Page 4 - Construction

Signature Global gives Rs 320 cr contract to ACC to build housing project

Realty firm Signature Global has given Rs 320 crore contract to ACC India for construction of its luxury housing project in Gurugram. The company has appointed ACC India Pvt Ltd for civil, structure and part MEP work for all the towers, basements and other ancillary buildings for its group housing project 'Twin Towers DXP' in Sector 84, Gurugram, Haryana. The total contract value is Rs 320 crore, the company said in a statement. Signature Global has not launched this project for sales. Lalit Aggarwal, Vice Chairman, Signature Global, said, "This is going to be one of the finest projects that we will be executing and will be a crowning jewel in our portfolio." "It will be one of the tallest in the area and Arabian Construction Company, along with their Indian subsidiary ACC India, is known for constructing many prominent towers in the Middle East and India, showcasing their proven expertise in delivering this project," Aggarwal said. Ani Ray, Managing Director of ACC India Pvt Ltd

Cement makers may end H1FY25 with higher raw material costs, weak pricing

In a judgement passed in August, the Supreme Court upheld states' authority to impose additional taxes on minerals, including limestone, with effect from April 2005

Ram Temple complex construction to be concluded by June 2025: Officials

Ram Temple Construction Committee chairperson Nripendra Misra on Friday said that the work on Ram Temple complex will be concluded by June 30, 2025. Friday was the second day of the three-day meeting of the Ram Temple Construction Committee being held in Ayodhya. In a statement issued, Misra said, "It is estimated that the construction of the (temple's) 'Shikhar' (spire) will take about 120 days. Our target was December, but it is not possible." "The construction of the spire will be completed by February 2025. The idols of the Sapta Mandir being built in the complex are being made in Jaipur. The idols of sages and saints would be installed here. This work will be completed by December 2024. The work of the Ram Mandir complex will be completed by June 30, 2025," Misra said. Meanwhile, a member of Shri Ram Janmabhoomi Teerth Kshetra Trust Anil Mishra on Thursday said that the trust is working to ensure that the supplies of essential stones required for the construction are unloaded

Israel to carry out recruitment drive in India for 10k construction workers

Israel has approached India recently to carry out a recruitment drive again for 10,000 construction workers and 5,000 caregivers simultaneously to plug the skill gap in infrastructure and health sectors, the National Skill Development Corporation said. This comes on the back of a similar request made by Israel earlier this year, the NSDC said. The statement assumes significance as a media report on Tuesday claimed faulty selection under a bilateral jobs scheme, under which Indians would be taken to Israel to work in the construction sector, after over 1 lakh Palestinian workers were banned in the wake of the Hamas attack of October 7 last year. Citing data from the Israeli Embassy, the report claimed that around 5,000 workers each have been recruited through two "pathways": Government-to-Government (G2G) handled by National Skill Development Corporation (NSDC) and Business-to-Business (B2B) through private agencies overseen by the Ministry of External Affairs. According to NSDC, th

DMRC redesigns Phase-4 construction plans to avoid felling 69 trees

The Delhi Metro Rail Corporation (DMRC) has redesigned its Phase-4 construction plan to save 69 trees on the Janakpuri West-RK Ashram Marg Corridor, officials said on Monday. They said that permission was received for felling overall 15,508 trees across Delhi for this phase, and approval was awaited for cutting 71 more on the Majlis ParkMaujpur Corridor. "The DMRC has redesigned its construction plans to avoid felling of 69 trees on the Janakpuri West to RK Ashram Marg corridor. Earlier, permission was sought for these trees as well. "For Phase-4 works overall, permission has been received for the cutting of 15,508 trees across Delhi. Out of these, 5,003 trees have been cut and over 7,000 have been transplanted," the official stated. The DMRC makes provisions for the plantation of 10 trees for each tree cut or transplanted for construction. All efforts are made to either avoid areas with trees while planning the alignment or transplantation, they said. However, delays in receiving

Cement sector to invest Rs 1.25 trillion as capex by FY27: CRISIL

The agency said an analysis of 20 cement makers, accounting for over 80 per cent of the industry's installed cement grinding capacity as of March, indicates the stated capex combined

Labour ministry launches centralised portal for construction workers

Preparedness of states/UTs with respect to harmonisation and finalisation of draft rules under the four new labour codes also reviewed

Local manufacturing will offer 25K cr annual opportunity for vendors: ICRA

Currently, India imports nearly 50 per cent of its component requirement (by value) from suppliers based out of China, Japan, and South Korea, among others

Construction equipment sales rise 5% to 28,902 units in Q1 FY25: ICEMA

India's construction equipment industry witnessed a 5 per cent rise in sales to 28,902 units during the April-June quarter of 2024-25, a report said on Friday. As per the data released by the Indian Construction Equipment Manufacturers' Association (ICEMA), the construction equipment (CE) industry had sold 27,577 units in the same period of the previous fiscal. "The first quarter sales of construction equipment in FY2024-25 grew 5 per cent on a year-on-year basis from 27,577 units in Q1 FY2023-24 to 28,902 units in Q1 FY2024-25," it said. The report further said the growth was a result of increasing year-on-year sales in three of the five main equipment segments of the CE industry in the April-June 2024 period. "These were earthmoving equipment with a 5 per cent increase, road construction equipment with a 9 per cent increase, and concrete equipment with a growth of 11 per cent. "Material handling equipment and material processing equipment, on the other hand, clocked 3 per cent a

India Cements posts consolidated net profit of Rs 58.5 crore in Q1

Capacity utilisation for the company was adversely affected due to the free fall in cement prices, resulting in a suboptimal operating performance for the quarter

DLF's growth potential anchors market confidence, brick by brick

Constructing value: With fortified finances, real estate major builds on sector consolidation

Bhutani Group acquires stake in WTC Noida to complete stalled projects

World Trade Centers Association has licences in 40 cities in India. Currently, 5 World Trade Center projects are stalled that require at least Rs 3,000 crore for completion

Sterling and Wilson Renewable Energy reports Rs 4.8 cr profit in Q1 profits

Sterling and Wilson Renewable Energy Ltd on Thursday posted a net profit of Rs 4.83 crore for the June quarter. It had clocked a net loss of Rs 95.32 crore in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 927.89 crore from Rs 522.35 crore in the same quarter a year ago. The expenses stood at Rs 913.23 crore during the quarter as against Rs 617.68 a year earlier. In a statement, Sterling and Wilson Renewable Energy Group Global CEO Amit Jain said, "We are well-positioned to continue this upward trajectory and deliver enhanced value to all our stakeholders." The company's current order book stands at Rs 2,170 crore, while net debt was at Rs 97 crore. Sterling and Wilson Renewable Energy Ltd is an end-to-end renewable engineering, procurement, and construction solutions provider for utility-scale solar, floating solar and hybrid and energy storage solutions.

BCD group bags order worth Rs 184 cr for housing project in Bengaluru

Construction firm BCD Group has bagged Rs 184 crore worth of work order in Bengaluru to construct a residential project in Bengaluru. In a statement on Monday, BCD Group said it has bagged construction work for a residential project from Ramsons Trendsquares in Bengaluru. The housing project 'Ramsons Trendsqure East Park Residences' has a 1.5 million square feet area. The scope of the work for BCD is a general civil contract. The project will need close to 700 skilled workers during the peak operations. The "Bengaluru real estate market is increasingly growing premium with home buyers looking for high-end projects from trusted developers. "As developers' preferred partners, we are at the forefront of bringing innovation and new construction technology to design, develop and market the project among the target customers," Angad Singh Bedi, Managing Director at BCD Group, said. BCD Group, established in 1952, is one of the leading players in the Indian construction and design ...

Noida Film City to create 50,000 jobs, benefit millions indirectly: UP govt

The construction on the Noida International Film City project is expected to start within six months and it will create 50,000 jobs while benefitting up to seven lakh people indirectly, the Uttar Pradesh government said on Friday. Bayview Projects, a consortium backed by filmmaker Boney Kapoor and real estate developer Ashish Bhutani, on Thursday signed an agreement to develop the film city with the Yamuna Expressway Industrial Development Authority (YEIDA), an undertaking of the UP government. "...the construction of the Film City will provide employment opportunities to 50,000 people from the state and neighbouring states, while indirectly benefiting five to seven lakh people with job opportunities," the state government said in a statement issued in Lucknow. It said the construction on the Uttar Pradesh Chief Minister Yogi Adityanath's dream project will commence within six months, and within three years film shooting and related activities will begin here. The government furthe

Cracks seen on Atal Setu bridge months after inauguration, alleges Congress

Maharashtra Congress president Nana Patole on Friday alleged corruption in the construction of the Atul Setu sea bridge connecting south Mumbai to Navi Mumbai, saying that cracks have appeared on it within months of inauguration, posing a threat to people's lives. Patole, who inspected the bridge during the day, claimed that the construction quality of the bridge was poor and that a portion of the road has caved in by one foot. However, the ruling BJP as well as the Mumbai Metropolitan Region Development Authority (MMRDA), which is the nodal agency for the project, said that the cracks were not on the bridge itself but on the approach road from Ulwe in Navi Mumbai. The 'Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu', also known as the Mumbai Trans-Harbour Link (MTHL), that connects south Mumbai with the satellite city of Navi Mumbai, was inaugurated in January this year. Built at a cost of Rs 17,840 crore, this six-lane bridge is 21.8 km long with a 16.5 km sea-link. Talking to

Planning to double market share in country, says Volvo CE India MD

Volvo CE India, a subsidiary of the Swedish Volvo group, aims to double market share in the segments it operates in the country, a top company official said on Wednesday. "We are present in 40 per cent of the earth moving and construction equipment (CE) segment in India. The company has a market share of 6.5 per cent and we plan to double this in the coming years, Managing Director Dimitrov Krishnan said here. Krishnan was speaking to reporters on the sidelines of the launch of its 20-tonne class hydraulic excavator. He said the CE sector in India is growing fast with the development of infrastructure. Quoting figures compiled by the Indian Construction Equipment Manufacturers' Association (ICEMA), Krishnan said in 2023-24, the size of the CE industry in India in volume terms was 1,36,000 units with a value of around Rs 85,000 crore. "This, according to ICEMA, is going to double by 2030, he said. Krishnan said India's CE market is the most competitive with the presence of several

India will need to build 100 mn homes this decade amid rising incomes

In 2023 about 600,000 primary homes were built in India and even a fast pace of growth in the construction sector would struggle to meet the demand for 100 million homes

Kalpataru Projects Board to meet on June 10 to mull fund raise; stock up 6%

The surge came after the company announced that its board will meet on June 10 to approve raising of funds by way of issuance of Non Convertible Debentures (NCDs) on private placement basis

Realty major Prestige Estates aims for 30% increase in sales in FY25

The management said it has about Rs 60,000 crore worth of launches in the pipeline, and these projects have been designed and locked in for approval