The Mumbai-based Ajit Gulabchand promoted Hindustan Construction Company (HCC) acquire a 66 percent stake in Karl Steiner AG (KSAG), a services contractor in the Swiss real estate market, for Swiss Franc 35 million (Rs. 150 crore). KSAG is a 95-year-old private company that specialises in turnkey development of new buildings and refurbishments, and offers services in all facets of real estate construction.