Page 4 - Construction

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

Patel Engineering Q4 results: PAT rises 78% to Rs 140 cr on higher revenues

Patel Engineering Ltd on Saturday reported a 78 per cent rise in its consolidated net profit after tax to Rs 140.35 crore for the March 2024 quarter on account of higher revenues. It had posted a Rs 78.83 crore "net profit after tax (PAT) from continuing operations" during the year-ago period, the company said in an exchange filing. The company's revenue from operations also rose by 11 per cent to Rs 1,343.18 crore from Rs 1,205.06 crore in the January-March quarter of the preceding 2022-23 fiscal. Its total order book was Rs 18,663 crore as of March 31, 2024. Its Whole Time Director and CFO Kavita Shirvaikar said, "The company has notched impressive milestones in the last quarter. Our robust financial strides underscore our disciplined cost management ethos and adeptness in capitalising on emergent prospects. Our vision remains bright, fuelled by a buoyant outlook on our company's potential, all while intensifying our fiscal strategies for greater resilience in the market". The .

Kalpataru Projects Q4 results: Net profit rises 21% to Rs 169 crore

Kalpataru Projects International on Wednesday posted about 21 per cent rise in its consolidated net profit to Rs 169 crore for the March quarter, mainly on the back of higher revenues. Its consolidated profit was Rs 140 crore in the year-ago quarter, a BSE filing showed. The total income of the company rose to Rs 5,991 crore in the fourth quarter from Rs 4,896 crore a year ago. For the fiscal 2023-24, its consolidated net profit rose to Rs 516 crore from Rs 435 crore in the year-ago period. In FY24, its total income increased to Rs 19,690 crore from Rs 16,401 crore in 2022-23. The company's board also recommended a final dividend of Rs 8 per equity share of the face value of Rs 2 each (ie 400 per cent) for the financial year ended March 2024, subject to approval by shareholders at the ensuing annual general meeting (AGM). The company will inform, in due course, the date on which it will hold the AGM for the year ended March 2024 and the date from which the dividend will be paid.

In FY23, investments in mining, construction and manufacturing fell

Low capacity utilisation meant firms had less incentive to invest: Economists

Construction equipment sales rise 26% to 135,650 units in FY24: ICEMA

India's construction equipment industry witnessed a 26 per cent rise in sales to 1,35,650 units in the 2023-24 fiscal on the back of the government's infrastructure-led growth agenda, a report said on Monday. As per the data released by the Indian Construction Equipment Manufacturers' Association (ICEMA), the construction equipment (CE) industry had sold 1,07,779 units in the previous fiscal year. "With total equipment sales crossing 1,35,650 units as against 1,07,779 lakh units in FY23, the Indian Construction Equipment industry has recorded a 26 per cent increase in overall sales volume for the financial year 2023-24, surpassing all projections," it said. The statement further said the government's infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments. "The industry's excellent annual performance has been a result of significant increase in demand for construction equipment observed

Realtors retool pricing strategies amid rising cost of construction

The higher costs in Mumbai can be attributed to the increased prices of essential construction materials like cement, reinforced steel, structural steel, and stones

Macrotech to invest Rs 5,000 cr on construction of realty projects: MD

Realty firm Macrotech Developers will step up its investment this fiscal year on construction of projects to over Rs 5,000 crore in line with growth in sales and new supply, its MD and CEO Abhishek Lodha said. Macrotech Developers, which sells properties under the Lodha brand, is targeting to deliver more than 10,000 apartments during 2024-25, he said. In an interview with PTI, Lodha highlighted that the company achieved all its major targets for 2023-24 related to pre-sales, new land acquisition and debt reduction amid strong housing demand. He noted that demand would sustain as India's housing sector is probably in the third year of a long-term upcycle, driven by high economic growth and rising consumer preference towards home ownership over renting. Lodha said the company would be launching more projects and also adding more land for future development to maintain "consistent and predictable" growth trajectory. Asked about guidance for construction spend, he said, "We spent aro

NBCC secures new work orders worth Rs 23,500 crore in 2023-24 fiscal

State-owned construction firm NBCC Ltd on Tuesday said it secured projects worth Rs 23,500 crore during the last fiscal year. In a statement, NBCC said it has secured significant business during 2023-24 financial year. The company "has secured record new works of Rs 23,500 crore on consolidated basis and Rs 18,400 crore on standalone basis, as compared to Rs 6,700 crore (consolidated basis) and Rs 4,225 crore (standalone basis) in preceding fiscal." Among the major orders received in 2023-24, NBCC said it has got additional FAR (floor area ratio) works in Amrapali worth about Rs 10,000 crore. NBCC Chairman and Managing Director K P Mahadevaswamy emphasised the company's strength in the construction and infrastructure domain, particularly in redevelopment and land monetisation endeavours. "With a robust order book and a strategic focus on redevelopment and land monetisation, NBCC is well-positioned to not only sustain but also incrementally elevate its growth trajectory, propelling

Saudi' Arabia's Neom hunts for more cash for $1.5 trillion desert city

Neom recently secured a 10 billion-riyals loan from a group of Saudi banks, according to two other people familiar with the deal

HMPL board approves Rs 486 cr fundraising plan through issuance of warrants

Infrastructure company Hazoor Multi Projects Ltd (HMPL) on Saturday said its board has approved a proposal to raise Rs 486 crore through the issuance of warrants. The plan was approved by the board of the company at a meeting on Friday, HMPL said in a regulatory filing. The board has approved fundraising of Rs 4,860 million through issuing and allotting up to 1.62 crore fully convertible warrants to the persons belonging to the 'non-promoter' and 'public' category on a preferential basis at an issue price of Rs 300 per warrant, the company said. The proposal is subject to the approval of shareholders and other regulatory authorities, HMPL added. "Upon issue of Warrants in accordance herewith, an amount equivalent to 25 per cent of the total issue size shall be called upfront from the proposed allottees," it noted. The company said it looks to utilise the proceeds to enhance financial resources to fund its growth. Besides, the constitution of a fundraising raising committee was am