HCC - Hindustan Construction Co. Ltd. Share Price

Construction

₹25.94-0.47(-1.78%)

Market Closed as of Dec 4, 2025, 15:30 IST

Valuation
Market Cap	4.72 kCr
Price/Earnings (Trailing)	32.02
Price/Sales (Trailing)	1.03
EV/EBITDA	4.24
Price/Free Cashflow	43.81
MarketCap/EBT	6.57
Enterprise Value	5.86 kCr

Fundamentals
Revenue (TTM)	4.56 kCr
Rev. Growth (Yr)	-31.4%
Earnings (TTM)	149.67 Cr
Earnings Growth (Yr)	-25.3%

Profitability
Operating Margin	4%
EBT Margin	16%
Return on Equity	13.7%
Return on Assets	1.75%
Free Cashflow Yield	2.28%

Price to Sales Ratio

Latest reported: 1

Revenue (Last 12 mths)

Latest reported: 4.6 kCr

Net Income (Last 12 mths)

Latest reported: 149.7 Cr

Growth & Returns
Price Change 1W	7.8%
Price Change 1M	-6.4%
Price Change 6M	-25.5%
Price Change 1Y	-43.1%
3Y Cumulative Return	10.6%
5Y Cumulative Return	30.7%
7Y Cumulative Return	13.1%
10Y Cumulative Return	1.3%

Cash Flow & Liquidity
Cash Flow from Investing (TTM)	-35.45 Cr
Cash Flow from Operations (TTM)	133.62 Cr
Cash Flow from Financing (TTM)	73.14 Cr
Cash & Equivalents	467.21 Cr
Free Cash Flow (TTM)	115.77 Cr
Free Cash Flow/Share (TTM)	0.64

Balance Sheet
Total Assets	8.54 kCr
Total Liabilities	7.44 kCr
Shareholder Equity	1.09 kCr
Current Assets	5.26 kCr
Current Liabilities	5.11 kCr
Net PPE	180.84 Cr
Inventory	149 Cr
Goodwill	0.00

Capital Structure & Leverage
Debt Ratio	0.19
Debt/Equity	1.47
Interest Coverage	0.34
Interest/Cashflow Ops	1.23

Dividend & Shareholder Returns
Dividend Yield	1.41%
Shares Dilution (1Y)	8.3%
Shares Dilution (3Y)	20.3%

Pros

Technicals: Bullish SharesGuru indicator.

Cons

Growth: Declining Revenues! Trailing 12m revenue has fallen by -30.8% in past one year. In past three years, revenues have changed by -56.1%.

Dilution: Company has a tendency to dilute it's stock investors.

Smart Money: Smart money is losing interest in the stock.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Investor Care
Dividend Yield	1.41%
Shares Dilution (1Y)	8.3%
Earnings/Share (TTM)	0.81

Financial Health
Current Ratio	1.03
Debt/Equity	1.47

Technical Indicators
RSI (14d)	57.7
RSI (5d)	92.05
RSI (21d)	39.45
MACD Signal	Buy
Stochastic Oscillator Signal	Hold
Grufity Signal	Buy
RSI Signal	Hold
RSI5 Signal	Sell
RSI21 Signal	Hold
SMA 5 Signal	Buy
SMA 10 Signal	Buy
SMA 20 Signal	Buy
SMA 50 Signal	Sell
SMA 100 Signal	Sell

Earnings Outlook

Last updated:

Q&A Session

Last updated:

Revenue

Last Updated: Jun 30, 2025

Description	Share	Value
Engineering and construction	96.1%	1.1 kCr
Infrastructure	3.9%	42.9 Cr
Total		1.1 kCr

Share Holdings

Understand Hindustan Construction Co. ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

Shareholder Name	Holding %
Hincon Holdings Ltd	11.89%
Hincon Finance Limited	3.49%
Canara Bank-Mumbai	1.61%
Export- Import Bank Of India	1.33%
India Insight Value Fund	1.27%
Maharani Holdings Private Limited	1.15%
Vanguard Total International Stock Index Fund	1.14%
Vanguard Emerging Markets Stock Index Fund, A Series Of Vanguard International Equity Index Funds	1.01%
Ajit Gulabchand	0.12%
Shalaka Investment Pvt Ltd	0.03%
Anjani Ashwin Parekh	0.01%
Shalaka Gulabchand Dhawan	0.01%
Arya Capital Management Private Limited	0%
Western Securities Ltd	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LT	Larsen & Toubro	5.48 LCr	2.76 LCr	+1.50%	+5.10%	33.41	1.99	-	-
IRB	IRB Infrastructure Developers	25.97 kCr	8.27 kCr	-3.70%	-23.80%	3.95	3.14	-	-
KEC	KEC International	19 kCr	23.37 kCr	-11.80%	-42.50%	27.8	0.81	-	-
NCC	NCC	10.64 kCr	21.37 kCr	-17.60%	-45.70%	13.41	0.5	-	-
PATELENG	Patel Engineering	2.79 kCr	5.41 kCr	-9.50%	-41.80%	10.48	0.52	-	-

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	-20%	5,603	7,007	9,857	10,670	8,248	9,437
Other Income	-7.6%	123	133	56	152	87	85
Total Income	-19.8%	5,727	7,139	9,912	10,822	8,335	9,522
Cost of Materials	-34.6%	564	862	1,010	865	526	691
Employee Expense	-23%	493	640	837	932	955	983
Finance costs	-26.2%	600	813	1,012	1,030	1,001	817
Depreciation and Amortization	56.7%	164	105	129	138	136	152
Other expenses	-29.2%	3,416	4,823	7,445	7,698	6,393	6,767
Total Expenses	-23.2%	5,573	7,254	10,421	10,646	8,994	9,569
Profit Before exceptional items and Tax	231.6%	153	-114.51	-508.41	176	-658.76	-47.01
Exceptional items before tax	-37.8%	530	851	410	106	-274.03	221
Total profit before tax	-7.2%	683	736	-98.67	282	-932.79	174
Current tax	-116.7%	-13.89	90	8.3	47	8.96	13
Deferred tax	167.7%	424	159	-70.79	40	-266.29	152
Total tax	66%	411	248	-62.49	86	-257.33	165
Total profit (loss) for period	-76.5%	113	478	-27.84	400	-610.02	197
Other comp. income net of taxes	-25.4%	51	68	-25.76	85	59	-46
Total Comprehensive Income	-70.1%	164	546	-53.6	485	-551.09	151
Earnings Per Share, Basic	-115.7%	0.66	3.159	-0.19	2.69	-4.03	1.3
Earnings Per Share, Diluted	-115.7%	0.66	3.159	-0.19	2.69	-4.03	1.3
Debt equity ratio	-	0.0194	-	-	-0.0603	-	-
Debt service coverage ratio	-	057	-	-	074	-	-
Interest service coverage ratio	-	0.0134	-	-	0.023	-	-

Description	(%) Q/Q	Sep-2025	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024
Revenue From Operations	-11.9%	961	1,091	1,374	1,007	1,407	1,816
Other Income	-15.4%	23	27	18	59	26	20
Total Income	-12.2%	983	1,119	1,392	1,066	1,432	1,836
Cost of Materials	12.1%	131	117	130	137	114	183
Employee Expense	-2.4%	84	86	76	131	140	145
Finance costs	-1.7%	120	122	111	183	159	146
Depreciation and Amortization	-55.9%	5.85	12	22	90	26	26
Other expenses	-15.8%	598	710	738	464	879	1,335
Total Expenses	-10.2%	939	1,045	1,078	1,310	1,350	1,835
Profit Before exceptional items and Tax	-38.9%	45	73	314	-243.73	82	0.39
Exceptional items before tax	-	0	0	0	530	0	0
Total profit before tax	-38.9%	45	73	314	286	82	0.39
Current tax	-232.2%	-13.54	12	1.53	-40.44	16	8.86
Deferred tax	-21.6%	8.06	10	82	313	22	7.42
Total tax	-129.5%	-5.48	23	83	273	39	16
Total profit (loss) for period	-6%	48	51	90	-38.92	64	-2.46
Other comp. income net of taxes	-100.2%	0.81	87	23	-5.46	16	18
Total Comprehensive Income	-65%	49	138	113	-44.38	79	16
Earnings Per Share, Basic	-2.8%	0.26	0.28	0.5	-0.23	0.38	-0.01
Earnings Per Share, Diluted	-2.8%	0.26	0.28	0.5	-0.23	0.38	-0.01
Debt equity ratio	-0.1%	0.0153	0.0164	0.0194	0.03	0	0.1508
Debt service coverage ratio	-0.2%	057	072	0.0114	0	0.01	066
Interest service coverage ratio	-0.4%	0.0153	0.0194	0.0298	0	0.02	0.014

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	-4.8%	4,801	5,043	5,222	4,666	2,590	3,644
Other Income	-21.8%	98	125	61	80	53	32
Total Income	-5.2%	4,899	5,168	5,283	4,747	2,642	3,676
Cost of Materials	-34.6%	564	862	1,010	865	526	691
Employee Expense	-2.2%	317	324	324	346	324	414
Finance costs	-6.8%	506	543	664	949	830	746
Depreciation and Amortization	-4.5%	65	68	78	94	91	109
Other expenses	-5.8%	2,987	3,170	3,176	2,666	1,441	2,077
Total Expenses	-10.6%	4,439	4,966	5,252	4,920	3,211	4,037
Profit Before exceptional items and Tax	129.5%	460	201	32	-173.28	-568.69	-360.92
Exceptional items before tax	-100.6%	0	169	223	0	-274.03	320
Total profit before tax	24.4%	460	370	255	-173.28	-842.72	-40.97
Current tax	-176.7%	-45.78	62	1.66	5.96	3.34	0.09
Deferred tax	228.1%	421	129	-0.19	26	-279.61	128
Total tax	96.8%	375	191	1.47	32	-276.27	128
Total profit (loss) for period	-52.8%	85	179	253	-205.38	-566.45	-168.72
Other comp. income net of taxes	-140.5%	-7.1	21	0.66	7.86	6.89	-13.87
Total Comprehensive Income	-61.3%	78	200	254	-197.52	-559.56	-182.59
Earnings Per Share, Basic	-383.3%	0.49	1.18	1.675	-1.01	-3.74	-1.12
Earnings Per Share, Diluted	-383.3%	0.49	1.18	1.675	-1.01	-3.74	-1.12
Debt equity ratio	-1.2%	079	0.0192	0.0277	0.0837	-	0.0244
Debt service coverage ratio	0.1%	0.0108	0.0102	091	039	-	-0.0162
Interest service coverage ratio	0.7%	0.024	0.0169	0.0123	087	-	-0.0275

Description	(%) Q/Q	Sep-2025	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024
Revenue From Operations	-10.4%	958	1,069	1,330	1,002	1,203	1,266
Other Income	-15%	18	21	28	26	23	21
Total Income	-10.5%	976	1,090	1,358	1,028	1,226	1,286
Cost of Materials	12.1%	131	117	130	137	114	183
Employee Expense	-2.4%	82	84	74	79	80	83
Finance costs	-2.6%	112	115	109	138	134	125
Depreciation and Amortization	-59.6%	4.64	10	15	16	16	16
Other expenses	-16.9%	590	710	714	639	795	840
Total Expenses	-11.1%	920	1,035	1,041	1,010	1,140	1,248
Profit Before exceptional items and Tax	0%	55	55	317	18	86	38
Exceptional items before tax	-	0	0	0	0	0	0
Total profit before tax	0%	55	55	317	18	86	38
Current tax	49.3%	11	7.7	5.45	-73.63	14	7.97
Deferred tax	-18.5%	7.08	8.46	83	308	22	7.78
Total tax	13.3%	18	16	89	235	36	16
Total profit (loss) for period	-5.3%	37	39	228	-216.41	50	23
Other comp. income net of taxes	-243.9%	-3.26	3.96	-8.73	-4.08	-6.52	12
Total Comprehensive Income	-23.8%	33	43	220	-220.49	44	35
Earnings Per Share, Basic	-1.3%	0.2	0.21	1.26	-1.27	0.3	0.136
Earnings Per Share, Diluted	-1.3%	0.2	0.21	1.26	-1.27	0.3	0.136
Debt equity ratio	0%	071	075	079	0.01	0.01	0.0136
Debt service coverage ratio	0%	075	077	0.0203	0.01	0.01	095
Interest service coverage ratio	-0.1%	0.0172	0.0178	0.0445	0.01	0.02	0.016

Description	(%) Q/Q	Sep-2025	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023
Cash and cash equivalents	-18%	467	569	273	399	366	582
Current investments	216.3%	137	44	15	0.15	0.18	0.7
Loans, current	-	0	0	0	0	0	0
Total current financial assets	62.1%	5,114	3,155	3,291	6,393	2,472	3,432
Inventories	16.5%	149	128	401	436	464	491
Total current assets	-9.7%	5,263	5,827	7,076	6,829	6,979	7,628
Property, plant and equipment	-2.7%	181	186	332	378	483	605
Capital work-in-progress	44.2%	9.12	6.63	0.67	0.84	0.12	0.12
Investment property	0%	0.23	0.23	3.15	3.45	3.41	2.84
Goodwill	-	0	0	0	3.38	3.38	3.38
Non-current investments	5.9%	37	35	282	245	32	19
Loans, non-current	10.3%	87	79	40	37	21	42
Total non-current financial assets	61.7%	2,661	1,646	1,765	985	998	3,850
Total non-current assets	45%	3,263	2,251	2,932	2,231	2,663	5,550
Total assets	-	-	8,088	-	-	-	-
Total assets	5.6%	8,537	8,088	10,007	9,059	10,334	13,180
Borrowings, non-current	-4.2%	1,001	1,045	1,479	1,672	1,968	4,851
Total non-current financial liabilities	-0.8%	2,291	2,310	3,089	3,239	3,715	6,746
Provisions, non-current	0%	43	43	91	87	112	127
Total non-current liabilities	-0.8%	2,335	2,353	3,276	3,326	3,828	6,872
Borrowings, current	-3.9%	609	634	640	454	431	443
Total current financial liabilities	6.5%	3,999	3,755	4,933	3,944	3,788	4,323
Provisions, current	-5.6%	18	19	267	307	499	602
Current tax liabilities	-79.1%	6.63	28	0.7	0.21	11	8.97
Total current liabilities	5.8%	5,110	4,830	6,468	5,902	6,171	7,022
Total liabilities	-	-	7,183	-	-	-	-
Total liabilities	3.6%	7,445	7,183	9,744	9,228	10,989	13,894
Equity share capital	0%	182	182	168	151	151	151
Total equity	20.6%	1,092	906	264	-168.48	-655.41	-714.38
Total equity and liabilities	5.6%	8,537	8,088	10,007	9,059	10,334	13,180

Description	(%) Q/Q	Sep-2025	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023
Cash and cash equivalents	-19.9%	437	545	229	234	254	216
Current investments	-100.7%	0	135	0	0	205	220
Loans, current	-	0	0	0	0	0	0
Total current financial assets	-22.2%	2,626	3,377	2,963	2,359	2,450	2,773
Inventories	17.1%	145	124	123	126	141	170
Total current assets	-10.3%	5,259	5,862	5,360	4,685	4,889	5,027
Property, plant and equipment	-2.6%	152	156	196	229	265	300
Capital work-in-progress	44.2%	9.12	6.63	0.67	0.84	0.12	0.12
Non-current investments	0.1%	1,486	1,485	1,634	1,632	1,385	1,372
Loans, non-current	3.5%	265	256	251	250	225	223
Total non-current financial assets	33.4%	3,194	2,394	2,509	2,542	2,499	2,217
Total non-current assets	27.5%	3,672	2,881	3,374	3,453	3,609	3,357
Total assets	-	-	8,743	-	-	-	-
Total assets	2.2%	8,932	8,743	8,734	8,138	8,501	8,386
Borrowings, non-current	-6.3%	979	1,045	1,479	1,479	1,755	1,785
Total non-current financial liabilities	-1.8%	2,269	2,310	3,089	2,949	3,291	3,185
Provisions, non-current	0%	42	42	36	26	26	21
Total non-current liabilities	-1.7%	2,311	2,352	3,125	2,975	3,317	3,206
Borrowings, current	-7.2%	428	461	252	258	157	171
Total current financial liabilities	6.6%	3,688	3,461	2,924	2,713	2,601	2,544
Provisions, current	-5.9%	17	18	212	282	438	495
Total current liabilities	3.4%	4,628	4,476	4,273	4,242	4,377	4,459
Total liabilities	-	-	6,827	-	-	-	-
Total liabilities	1.6%	6,939	6,827	7,398	7,217	7,694	7,665
Equity share capital	0%	182	182	168	151	151	151
Total equity	4%	1,992	1,916	1,337	921	806	721
Total equity and liabilities	2.2%	8,932	8,743	8,734	8,138	8,501	8,386

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	-26.2%	600	813	1,012	1,030	-	-
Change in inventories	477.4%	307	54	-5.68	-5.24	-	-
Depreciation	56.7%	164	105	129	138	-	-
Unrealised forex losses/gains	-187%	-18.15	23	-4.18	-3.92	-	-
Dividend income	6.5%	0	-0.07	0	0	-	-
Adjustments for interest income	234%	44	-31.1	0	0	-	-
Share-based payments	-	0.08	0	0	0	-	-
Net Cashflows from Operations	7%	139	130	47	766	-	-
Dividends received	-	0	0	-4.57	-1.14	-	-
Interest received	-	0	0	-20.95	-33.02	-	-
Income taxes paid (refund)	-	5.23	0	4.98	-20.73	-	-
Other inflows (outflows) of cash	97.5%	0	-38.9	0	193	-	-
Net Cashflows From Operating Activities	47.8%	134	91	17	946	-	-
Cash payment for investment in partnership firm or association of persons or LLP	-	0	0	30	0	-	-
Proceeds from sales of PPE	-76.5%	24	99	9.47	34	-	-
Purchase of property, plant and equipment	-5.6%	18	19	215	89	-	-
Proceeds from sales of investment property	-7970.3%	-58.72	0.26	5.69	0	-	-
Purchase of investment property	-	-15.51	0	0	0	-	-
Proceeds from sales of long-term assets	-100.2%	0	457	0	0	-	-
Dividends received	-7.5%	0	0.07	4.57	1.14	-	-
Interest received	0%	15	15	26	31	-	-
Other inflows (outflows) of cash	-	-24.79	0	250	-201.04	-	-
Net Cashflows From Investing Activities	-104.4%	-35.45	825	425	-224.25	-	-
Proceeds from changes in ownership interests in subsidiaries	99.7%	0	-313.96	0	0	-	-
Proceeds from issuing shares	-	906	0	0	0	-	-
Proceeds from issuing other equity instruments	-107.1%	0	15	0	0	-	-
Repayments of borrowings	-2.7%	321	330	201	215	-	-
Payments of lease liabilities	-15.6%	28	33	9.77	0	-	-
Interest paid	-	448	0	392	426	-	-
Other inflows (outflows) of cash	91.9%	-36.31	-462.03	0	0	-	-
Net Cashflows from Financing Activities	106.4%	73	-1,123.8	-603.1	-659.85	-	-
Effect of exchange rate on cash eq.	-106.5%	-0.55	25	22	17	-	-
Net change in cash and cash eq.	192.3%	171	-183.18	-139.06	79	-	-

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	-6.8%	506	543	664	949	-	-
Change in inventories	-95.9%	2.77	44	5.4	12	-	-
Depreciation	-4.5%	65	68	78	94	-	-
Impairment loss / reversal	98.8%	0	-80.63	0	0	-	-
Unrealised forex losses/gains	44.4%	0	-0.8	0	-1.39	-	-
Dividend income	4.8%	0	-0.05	0	0	-	-
Adjustments for interest income	97.5%	0	-39.18	0	0	-	-
Share-based payments	-15%	0.08	0.2	0	0	-	-
Net Cashflows from Operations	-68.7%	132	420	103	640	-	-
Dividends received	-	0	0	0	-0.04	-	-
Interest received	-	-53.07	0	-27.42	-32.15	-	-
Income taxes paid (refund)	-87.2%	4.85	31	-1.91	-37.16	-	-
Net Cashflows From Operating Activities	-81%	75	390	78	645	-	-
Cashflows used in obtaining control of subsidiaries	-104.2%	0	25	0.05	0	-	-
Proceeds from sales of PPE	-79.6%	22	104	9.47	34	-	-
Purchase of property, plant and equipment	14.3%	17	15	14	9.19	-	-
Cash receipts from repayment of advances and loans made to other parties	77.3%	0	-3.4	257	7	-	-
Dividends received	-5.3%	0	0.05	0	0.04	-	-
Interest received	6.6%	7.33	6.94	19	20	-	-
Other inflows (outflows) of cash	-	-72.1	0	0	-208.95	-	-
Net Cashflows From Investing Activities	-124%	-48.64	208	402	-156.61	-	-
Proceeds from changes in ownership interests in subsidiaries	-104.2%	0	25	0	0	-	-
Proceeds from issuing shares	-	906	0	0	0	-	-
Repayments of borrowings	-4.5%	232	243	210	131	-	-
Payments of lease liabilities	-69.5%	0	0.41	0	0	-	-
Interest paid	6.9%	387	362	291	346	-	-
Other inflows (outflows) of cash	-	0	0	-1.28	0	-	-
Net Cashflows from Financing Activities	149%	286	-580.51	-501.75	-478.27	-	-
Effect of exchange rate on cash eq.	-222.9%	-0.55	0.52	0.51	-0.13	-	-
Net change in cash and cash eq.	1729.4%	312	18	-21.56	9.69	-	-

Hindustan Construction Company Limited provides engineering and construction services in India and internationally. The company constructs roads, highways, expressways, bridges, elevated corridors, railways, metro rails, ports, and marine structures; dams, barrages, tunnels, powerhouses, shafts, and various underground works; and reactors, auxiliary buildings, spent fuel buildings, safety pump houses, and control buildings. It constructs integrated water supply systems, bulk water transmission projects, dams, barrages, irrigation, water treatment and sewage treatment plants, and aqueducts; and hydrocarbon, metals and process plants and factories, residential and commercial buildings, institutional buildings, and station buildings. In addition, the company offers toll management, insurance auxiliary, real estate development, and information technology consulting, as well as services related to recovering, assessing, managing claims, awards, etc. Hindustan Construction Company Limited was incorporated in 1926 and is based in Mumbai, India.

Industry Group:Construction

Employees:4,001

Website:www.hccindia.com

HCC - Hindustan Construction Co. Ltd. Share Price

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Growth & Returns

Cash Flow & Liquidity

Balance Sheet

Capital Structure & Leverage

Dividend & Shareholder Returns

Investor Care

Financial Health

Technical Indicators

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

What does Hindustan Construction Co. Ltd. do?

HCC - Hindustan Construction Co. Ltd. Share Price

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Growth & Returns

Cash Flow & Liquidity

Balance Sheet

Capital Structure & Leverage

Dividend & Shareholder Returns

Investor Care

Financial Health

Technical Indicators

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

What does Hindustan Construction Co. Ltd. do?