Cover Story
- Over the last 15 years, as HCC diversified and took on bigger projects, it accumulated debt amounting to Rs 4,300 crore. Servicing it has taken a heavy toll on the balance sheet.
- Ajit Gulabchand spoke with Business Today Editor Chaitanya Kalbag in a candid conversation punctuated by the grizzled philosophising that comes with years of dealing with the government as a client.

Vikram Malhi, Country Head, Expedia India favourite things
Vikram Malhi, Country Head, Expedia India favourite thingsWhy you should have a date with the spa when it rains
Monsoon brings a welcome relief to the frenzied and sweltering city life, but the swatch of dark clouds can also get gloomy. Here's why you should have a date with the spa when it rains.Make your friends go green with envy with these cool home accessories
Up the style quotient in your pad with these spiffy accessories.Bobby Joseph helps you pick out right headphone
Bobby Joseph, Country Manager at Plantronics India, helps you pick out the right headphone.Foolproof formula to look and feel like a million bucks
There's more to an outfit than meets the eye. Success lies in the details, and we show you just how to get 'em right. Follow our foolproof formula to look and feel like a million bucks.
Pet boarding homes offers solution during holidays
Pets are loving and amusing companions. But they can also become a problem when you want a holiday. Here's a solution.Top Indian destinations to enjoy monsoon to the fullest
Let the cool monsoon breeze lull you into blissful inertia. Here's a list of destinations that experience the Great Indian Monsoon in its truest spirit.Travel getaway: Dhanachuli, a village steeped in mysticism of the Kumaon region
A few kilometres ahead of Mukteshwar stands Dhanachuli, a village steeped in the mysticism of the Kumaon region. To add to the effect, stay at Te Aroha, a fabulous hideaway in the hills.Gautam Chadha on making the most of this voyage
Gautam Chadha, Chief Executive of Turin Travel Marketing, on making the most of this voyage.
Chef choice: Enjoy the monsoon with these lip-smacking dishes
The monsoon brings with it a heady cocktail of traditional cooking, and festivities. Top chefs pick their favourite.Famous names share their best accessories choice for men
If you know how to accessorise right, making a style statement is simple. Four men who have excelled in their area of expertise share details about their favourite accessories.Prachi Agarwal shares a guide to the new age trend of healthcare on the web
Prachi Agarwal, founder of the online service Fitho Weight Management, shares a guide to the new age trend of healthcare on the web.MakeMyTrip.com founder lists out top travel destinations for monsoon
A travel industry insider shares his list of monsoon experiences you simply cannot miss.Ankit Negandhi shares tips on stocking up your personal bar
Ankit Negandhi, mixologist and owner of Mumbai-based Barwings Hospitality shares tips on stocking up your personal bar.
Look your best during monsoon with these fashionable accessories
The monsoon isn't just about jumping in and out of puddles and setting paper boats to sail. Look your best with these accessories.Fashion Designer Varun Bahl on his favourite shoe collection
He's been dressing the urbane man for quite some time now. Karan Johar's business partner in the fashion industry talks shoes. There are a lot of cosmetic ways out of baldness, fighting Mother Nature, as we all know, is in vain.
Eurozone crisis: Is recovery possible?
From the United States and Europe to China, a synchronised slowdown is underway and the outlook remains grim, says International Monetary Fund's 'World Economic Outlook Update'.Review: HTC One S and Nikon D3200
Nikon D3200 Pixel-packed camera and HTC One S another neat smartphoneTemasek Holdings remains bullish on India's infrastructure sector
In January, talking about future global trends, Temasek CEO Ho Ching had said that, by 2050, India would become the second-largest economy in the world on a purchasing power parity basis.Olympics 2012: How things work
The London Olympics flagged off on July 27. The 17-day event will be a grand spectacle involving 26 sports, 10,500 athletes and millions of spectators.On the spectre of drought: Who said what
The immediate fallout of scanty rains is rise in prices of pulses, vegetables, fodder, milk, and increase in edible oil imports at higher rates, says Ashok Gulati.Top 20 most watched ads June 2012
Top 20 most watched ads June 2012Why Maruti Suzuki will not leave Manesar despite labour worries
Almost 80 per cent of the components that go into making a Maruti car are sourced from some 200 vendors. About 70 per cent of these are based in the Gurgaon-Manesar belt.High growth not improbable, all India needs is critical reforms: HSBC
India's economic success since the 1980s has gone hand in hand with important economic reforms. India has the potential to grow even faster, but this requires further structural reforms and accelerated implementation.Roundup: Events of the fortnight
London's betting houses offer odds on almost anything, including a UFO disrupting the start of the Olympics.Govt's help to power distribution companies needs states support
A majority of the power distribution firms in India - owned mostly by state governments - are unable to recover costs and are saddled with mounting losses. The Centre has put its best foot forward to rescue the distribution companies, but it needs the support of the states.Camera megapixel counts are increasing manifold
Pushed by smartphones, camera megapixel counts are increasing manifold.
Poaching talent rampant among e-commerce companies
India's fledgling ecommerce industry talent poaching has acquired pandemic proportions. There is limited talent available - more so, of the tried and tested kind - and the plethora of ecommerce companies that have mushroomed all want as much of it as they can get.
Indians have the talent and attitude to become successful entrepreneurs
Gallup Organization's Daniela Yu and Yamini Arora say Indians have the talent and attitude to become successful entrepreneurs, but the external environment hardly helps them.
How to stay fit despite being too busy to exercise
Even walking up to the coffee machine for a cup of coffee rather than sending the office boy to fetch one, or walking around while speaking on the mobile phone, makes a difference.
New online fashion start-ups are promoting their own brands
Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} Unlike their predecessors, new online fashion start-ups are promoting their own brands instead of offering discounts on others' brands.Online advertising fast catching on at the expense of traditional media
With companies waking up to the potential of the digital medium, online advertising in India is on an upswing and growing at the cost of other media such as print, radio and cinema. The trend that began before the current economic downturn has only strengthened in recent times.Jaipur entrepreneur who makes paper from elephant dung
Most people Jaipur-based Vijendra Shekhawat shared the idea with thought he was insane, but he knew something they did not: elephant dung has high fibre content.ONGC Videsh's overseas woes: Could the problems have been avoided?
India's overseas oil and gas exploration has been floundering for a while. The latest in the litany of troubles involves the biggest player, ONGC Videsh Ltd, which has 30 assets in 15 countries. Could this have been avoided?
Roundup: People who made news last fortnight
Starring: Sharad Pawar, Jack Sim, Sandeep Goyal, Effendy Ibrahim and Ronnie Screwvala
Innovation in healthcare: How Abhay and Rani Bang beat infant mortality
With their scientific method for home-based medical care, the doctor couple have helped a backward area in Maharashtra beat the national average for infant mortality.Innovation in education: How to increase elementary education in a state
Five years ago its students were struggling. Today, innovative teaching methods based on activity-based learning have taken Tamil Nadu to the top of the elementary education charts.Remarkable innovations to solve India's pressing problems
Thousands of companies, governments, and regular men and women are working to address some of India's seemingly intractable problems. Business Today looks at some of them.How Sarvajal and Waterlife are supplying clean drinking water at affordable costs
Supplying clean drinking water to the masses can be a profitable and scalable business. Sarvajal and Waterlife show how.Innovation in energy: How Harish Hande's SELCO is lighting up homes
A SELCO system consists of a panel, a battery and a charge regulator. It can power low wattage appliances such as lights, fans, television sets, mobile chargers and radios. Its products are not subsidised in any manner but for those still without electricity they are a godsend.Innovation in agriculture: Precision farming can solve farm ills
Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} This farming technique focuses on utilising resources optimally to improve the quality and quantity of crops while lowering the cost of production.Innovations that are transforming the lives of thousands
We take a closer, 'photographic' look at the innovations that are transforming the lives of thousands.
Super Survivors
The cover story (How I Did It, August 5) showcased the mettle of leaders who have coasted with victory bringing their companies out of troubled waters.
Biggest deals in the past 30 days
Sony Pictures Television (SPT), a subsidiary of Sony Pictures Entertainment Inc, will buy an additional 32 per cent stake in its Indian arm Multi Screen Media Private Limited (MSM) for $271 million (Rs 1,479 crore).
'Business Today brings you the highest quality external perspective'
This fortnight we have two excellent columns. Leif Eskesen of HSBC paints a moderately optimistic picture of where India could go if it speeds up reforms, while Daniela Yu and Yamini Arora of Gallup do a sobering summary of a survey on the difficulties of Indian entrepreneurship.
Book review: Understanding Oil Prices
Oil pricing is complex, and bucks the usual demand and supply theory, says this book.
Adobe's Naresh Gupta shares his leadership style
Naresh Gupta, Sr VP, Adobe Systems, and MD, Adobe India shares his leadership style.
Sounds like you know about Ray Kurzweil
The American futurist applies Moore's law to technology and propagates the Law of Accelerating Returns, according to which an exponential growth of technologies like Artificial Intelligence will improve memory and increase life expectancy.