HCC-Tata Projects JV bags ₹2,470 crore pumped storage project in Maharashtra

The project includes constructing the Bhivpuri Off-Stream OpenLoop Pumped Storage Project (PSP) in Karjat, Maharashtra. It will be a 1000 MW (2x333 MW + 2x167 MW) PSP project, HCC said in a regulatory filing.

“The scope of the construction work extends to civil and hardware and material (H&M) components of the project. This includes a coffer dam, an intake structure including gates and screen at the existing upper reservoir of Thokerwadi, head race tunnels, a penstock, a surge shaft, a pressure Shaft, a powerhouse, a tail race tunnel, lower intake structures comprising gate and screens, a new lower reservoir with GFRD Dam, adits, roads and drains, various BOP foundation and building structures,” the company said.

It will also include other appurtenant works required for completing the project and infrastructure works with a review and interface of electro-mechanical works, HCC said.

“HCC has served the nation in the development of nearly 26% of installed hydropower capacity and is currently executing five hydroelectric power projects, including the 1000 MW Tehri Pumped Storage System in Uttarakhand. This latest win by HCC further cements its position as a leading partner in the development of hydropower projects for the country,” it further commented.

HCC share performance

Shares of HCC settled at ₹24.55 apiece, down 2.31% on the National Stock Exchange (NSE) on Thursday. However, it announced the project acquisition after the market had closed.

The stock gained 8.66% over the week and 4.11% since the beginning of March. It lost 35.03% on a year-to-date basis.

The scrip hit its 52-week low of ₹21.97 on March 3, 2025, and a high of ₹57.50 on July 26, 2024.

Hindustan Construction Company has a total market capitalisation of ₹4,466.59 as of March 20, 2025, on the NSE.

Hindustan Construction Company Limited (HCC), the flagship company of the Hindustan Construction Company Group is involved in engineering and construction infrastructure projects. It constructed 60% of India’s nuclear power generation capacities, over 4,036 km of Expressways and Highways and more.