AJIT GULABCHAND, CHAIRMAN & MANAGING DIRECTOR, HINDUSTAN CONSTRUCTION CO. LTD.

Ajit Gulabchand has over the past 25 years transformed the company from a construction major into a business group of global scale, developing and building responsible infrastructure through next practices. With a group turnover of US $ 1.6 billion, its businesses span the sectors of Engineering & Construction,

Real Estate, Infrastructure, Urban development & Management.

A graduate of Mumbai University, Mr. Gulabchand previously served as Chief Executive Officer of Indian Hume Pipe Co. and as Managing Director of Ravalgaon Sugar Farm. He became Managing Director of HCC in 1985, and Chairman in 1993.

Mr. Gulabchand hails from a family of nation-builders who have contributed much to the development of modern India. Over the years, the Hindustan Construction Company has been instrumental in executing a majority of India's landmark infrastructure projects, having constructed over 25% of India's hydro-power and over 50% of India's nuclear power generation capacities, over 3,300 lane km of expressways and highways, more than 204 km of complex tunneling - and over 324 bridges.

Under Mr. Ajit Gulabchand, HCC continues with the illustrious tradition set by his predecessors. His enterprising outlook has steered HCC to exceptional growth. The ability to spot opportunities and predict changing customer requirements has been central to his vision for the company. He has made long-term investments and built a business able to capture those emerging opportunities. His vision led to the early adoption of advanced engineering equipment, new and innovative technology and internationally accredited management systems. HCC today has a knowledge asset of more than 3,000 officers, including 1,715 engineers. It employs more than 32,000 workers at its 50 plus project sites across India.

The result is a business meeting the huge infrastructure needs of India using systems and equipment comparable to those of international peers. Those systems include corporate governance policies which went beyond statutory requirements. By building, not just a business but a brand rooted in a clear vision, he has successfully been able to diversify and in doing so, enhanced the company's reputation and significantly increased its valuation.

As a result of Mr. Gulabchand's leadership, HCC Ltd. has built an extraordinary construction portfolio and recorded an impressive financial performance. In March 2011, the company had an order book of US$ 4.1 billion. HCC Ltd. has achieved double digit annual growth at an average of 15 per cent CAGR for the past five years. Its recent market capitalisation was about US$ 400 million and with revenues of US$ 929 million in 2010-11.

The HCC Group of companies now comprises of HCC Ltd, HCC Infrastructure Co. Ltd, HCC Real Estate Ltd, Lavasa Corporation Ltd and Steiner AG in Switzerland.

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As Chairman - Lavasa Corporation Ltd, Mr. Gulabchand is the visionary behind the concept of free India's planned Hill City, Lavasa. The master plan of the city, which is being built to the highest environmental standards, has won international awards for sustainable urbanism. Lavasa is seen as the blueprint for the many future cities India will need as it responds to massive rural-to-urban migration. In fact, the states of Gujarat and Karnataka already have concrete plans to develop Lavasa-like cities in Dholera near Ahmedabad and also on the outskirts of Bangalore, respectively.

Alongside his responsibilities at HCC, Mr. Gulabchand has been a vocal advocate of sustainable development, and he is regarded as a spokesperson for India's infrastructure sector in global forums. A regular participant at the World Economic Forum, Davos, for almost two decades, Mr. Gulabchand was Co-Chair of the WEF's India Economic Summit, 2010 and has Chaired the Governor's steering board of the Engineering & Construction Community at the WEF's Annual Meeting 2011 in Davos. He is also the only Indian business leader honored to actively participate on panels at the United Nation's Annual Summit on Climate Change, as well on the United Nation's Global Compact Summit. He is also an Executive Committee member of The Energy and Resources Institute (TERI) - Business Council for Sustainable Development.

Holding leadership positions in several key industry bodies Mr. Gulabchand is a member of the National Council of the Confederation of Indian Industry, President of the Construction Federation of India; and Past President and Patron Member of the Governing Council of the Builders Association of India (BAI).

Corporate social responsibility is intrinsic to Mr. Gulabchand's vision for the HCC group. Its initiatives encompass Disaster Management, Water Sustainability, Education and HIV/AIDS awareness. In fact, HCC's Sustainability Report for 2010-11, in its very first submission received a Level Check A+ certification from the Global Reporting Initiative, Netherlands.

Disaster management forms a significant area of focus under the aegis of Mr. Gulabchand's sustainability canvas. He was the founder member and Chairman of the Geneva-based Disaster Resource Network, formed in collaboration with the World Economic Forum, the United Nations and the International Red Cross. He is also the founder member and Chairman of Disaster Resource Network India, wherein he has steered emergency response teams and rehabilitation to a number of locations struck by natural disasters in India and abroad. He is also a member of the United Nations Disaster Risk Reduction - Private Sector Partnership.

Recognizing the emerging water crisis and with a view to make water sustainability a corporate priority, Mr. Gulabchand has been the first Indian signatory as well as amongst the first few globally, to endorse the United Nations CEO Water Mandate. The Mandate attempts to mobilize businesses globally toward water sustainability. Spurred on by Mr. Gulabchand, HCC has demonstrated its water consciousness and commitment to water conservation by implementing a series of rigorous and improved water management practices at its project sites.

Mr. Gulabchand has invested in education and training and is patron to several technical institutions. He is Chairman of the Board of Governors of the National Institute of Construction Management and Research (NICMAR) and Chairman of the Administrative Council of the Walchand College of Engineering. In recognition of his contributions, Mr. Gulabchand was conferred the 'Infrastructure Leader of the Year' Award by CNBC TV18 in 2009.

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