Page 4 - Construction Firms

India's construction sector levels up as housing demand spurs economy

The construction sector grew 13.3% in July-September from a year earlier, up from 7.9% in the previous quarter and its best performance in five quarters, the data released on Thursday showed

Rs 8.45 trillion & rising: Orders flood major capital goods firms

"This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector

Which sector should you bet on? Infra- linked sectors top Crisil upgrades

Infrastructure has benefited not just from high budgetary allocation, but also from better risk sharing among stakeholders and acceptance of investment vehicles such as InvITs, or infrastructure inves

Noida lift crash: 2nd manager of construction company held for negligence

The Noida Police on Sunday said it has arrested a general manager of a private construction company in connection with the lift crash that killed eight labourers, adding that the machine was operated "negligently" despite rain that morning. The responsibility of maintaining safety standards at the tower where the incident took place on Friday was with this accused general manager, who has been arrested, the police said. This is the second arrest in the case. The police have booked nine named people and some others over negligence with respect to the machinery and culpable homicide not amounting to murder. Eight workers died after the lift crashed from the 14th floor of an under-construction tower at the Amrapali Dream Valley project in Noida Extension, also known as Greater Noida (West). State-run NBCC is completing the long-delayed project started in 2011 by the now-beleaguered Amrapali Group. The NBCC had hired Giridhari Lal Construction Private Limited for the project. "Lovejee

Govt saved 12% cost in awarding Dwarka Experssway project: Report

The government saved over 12 per cent in construction cost against estimates in awarding contracts of Urban Extension Road-II or Dwarka Expressway, and CAG findings that the cost was exorbitant are misplaced as the auditor did not factor in the actual cost, top sources in the road transport ministry said. According to reports, the Comptroller and Auditor General (CAG) had found that the National Highways Authority of India's (NHAI) decision to go for an elevated carriageway on the Haryana portion of the Dwarka Expressway pushed up the construction cost to Rs 251 crore per kilometre from Rs 18.2 crore per km estimated earlier. The audit report on the implementation of Phase-I of the 'Bharatmala Pariyojana' highway projects, triggered a political row with the opposition parties alleging corruption in the process of awarding the project. The ministry sources explained that all four packages of Dwarka Expressway were put for tender at an average civil cost of Rs 206.39 crore per kilomet

HCC zooms 15% to hit over 5-year high on heavy volumes

For the June quarter (Q1FY24), HCC had reported a consolidated profit of Rs 52.70 crore, as compared to a loss of Rs 280.70 crore in a year ago quarter.

India's booming construction sector could add 30 mn jobs by 2030: Report

Improving business sentiment and conducive policy measures have boosted domestic and global investor interest in construction, India's second largest employer after farming

L&T bags order worth nearly Rs 7,000 cr for Mumbai-Ahmedabad rail project

With this package, L&T will execute 92% of the main line between Shilphata in Maharashtra and Ahmedabad in Gujarat

BCD Group's order book up 30% to cross Rs 1,000 crore in June quarter

Construction firm BCD Group said its order book has crossed Rs 1,000 crore in June quarter of this fiscal year, up 30 per cent from the year-ago period. The Bengaluru-based firm said in a statement that it has bagged residential and commercial projects from many real estate developers, including Assetz Group, Salarpuria Sattva, Puravankara and Century Group. The company in the first quarter of FY24 received project construction orders worth Rs 300 crore for civil construction of premium properties. Angad Singh Bedi, Managing Director, BCD Group, said the company has crossed the Rs 1,000 crore order book milestone in the first quarter. "We are quite bullish for the ongoing fiscal. Bengaluru has been one of the fastest-growing residential markets for us, and we have been at the forefront of developing the city by working with the largest developers in the country," Bedi said. BCD Group, established in 1952, is into construction of real estate projects, townships, steel plants, ...

90% in construction sector favour decarbonisation practices: KPMG report

84% of the respondents said they were optimistic about the direction of the construction market in India

Average apartment size rises 5% annually in Jan-Mar 2023: Anarock

Real estate developers are building bigger apartments to meet consumer demand, with the average size of flats launched in January-March this year rising 5 per cent annually across seven cities, according to property consultant Anarock. As per the data, the average size of flats across seven major cities rose to 1,225 square feet in January-March this year from 1,170 square feet in the year-ago period. Among seven cities, Delhi-NCR saw average flat size rising 50 per cent to 1,700 square feet in the first quarter of 2023 from 1,130 square feet in January-March last year. Developers in Delhi-NCR are closely tracking demand and launching bigger homes in this region, Anarock noted. Kolkata saw flat sizes increase by 44 per cent to 1,150 sq ft in Q1 2023 from 800 sq ft in the year-ago period. The average flat size in Hyderabad rose 29 per cent to 2,200 sq ft in January-March from 1,700 sq ft in Q1 of 2022. Pune witnessed a 16 per cent yearly increase to 1,013 square feet in Q1 2023 f

Construction firm involved in collapsed bridge working on Gujarat projects

The other project is the Dabhoi-Sinor-Malsar-S Road Narmada River Bridge, with a length of 900m and a project cost of Rs 165 crore

Bihar bridge collapse: Construction firm's guard missing, feared dead

A guard deployed at the four-lane bridge connecting Khagaria and Bhagalpur districts on the Ganga river that collapsed on Sunday, has gone missing, an official said here

Icra downgrades SPCPL's rating to BBB+ on delay in securing working capital

The delay has impacted the engineering, procurement, and construction (EPC) operations in FY23, resulting in modest profitability and muted debt coverage metrics compared with earlier estimates

Suraksha to infuse Rs 250 cr, arrange Rs 3k cr loan to finish 20,000 flats

Mumbai-based Suraksha Group, which recently got the NCLT approval to acquire Jaypee Infratech, will infuse Rs 250 crore in the debt ridden Jaypee Group firm and also arrange Rs 3,000 crore loan for completion of around 20,000 apartments in various stalled projects over the next four years. As per the resolution plan of Suraksha Group submitted in June 2021, Jaypee Infratech Ltd (JIL) will get delisted and public shareholders will be given an aggregate exit at a price of Rs 0.14 crore. On March 7, National Company Law Tribunal (NCLT), Principal Bench New Delhi approved the resolution plan of Suraksha Realty Ltd and Lakshdeep Investments and Finance Pvt Ltd to takeover JIL. A monitoring committee will be set up by Interim Resolution Professional (IRP) in seven days, and it will take all necessary steps for expeditious implementation of the resolution plan. In a regulatory filing on Wednesday, Jaypee Infratech shared specific features and details of the Resolution Plan as approved by t

PSP Projects hits record high as it emerges L1 bidder for a govt project

In the past one month, PSP Projects outperformed the market as shares surged 18 per cent, as against 3 per cent decline in the S&P BSE Sensex.

NGT extends stay on environment ministry's construction project notice

The National Green Tribunal has extended the stay on a Union Ministry of Environment, Forests and Climate Change notification modifying the Environmental Impact Assessment (EIA) conditions for certain construction projects. According to the notification dated November 14, 2018, the union government delegated the power to ensure compliance with environmental conditions to local bodies, including municipalities, development authorities and district panchayats, in respect of building or construction projects having built-up area from 20,000 square metres to 50,000 sq. metres. The notification also provided these local bodies with the power for according building permission and granting occupation or completion certificate with respect to industrial sheds, hospitals and educational institutions (including hostels) having built-up areas of more than 20,000 sq. metres to 1,50,000 sq. metres. The tribunal was hearing a petition which said the modified EIA regime, where the appraisal of ...

Vizhinjam protest against Adani port called off after 138 days

Govt has already told agitators that construction work won't be stopped, but is said to have accepted all their demands

China's Covid policy will hinder property recovery: Goldman Sachs

On the Covid policy, Goldman expects China to reopen the country -- which it defines as a period when authorities no longer lock down cities when cases surge -- in the first half of 2023

Hardeep Singh Puri NBCC to equip itself to maximise its opportunities

Puri has urged public sector construction company NBCC to equip itself to maximise its opportunities by building the appropriate capacities, and bidding and winning contracts on its own merit