Page 6 - India's Infrastructure

Sterlite Power gets stakeholders' nod to demerge its biz into 2 entities

Move to unlock funding avenues for the power equipment business: MD Pratik Agarwal

Optimism in real estate industry stakeholders highest in 10 years: Report

As many as 82% of the respondents expect residential prices to rise in the near future

NDA better on infra metrics than UPA tenure, says Nirmala Sitharaman

India saves Rs 4.8 trillion on logistics cost every year, said Sitharaman

Stable prices, lower fuel cost, moderated demand in FY25: Cement executives

…with hints of moderate demand growth in FY25

Contribute towards developing border areas: Defence secy to infra firms

Vibrant Villages Programme encourages border people to stay in border areas

Godrej Properties Q4FY24 results: Profit rises 14% to Rs 471.26 crore

Total income rose to Rs 1,914.82 crore in the fourth quarter of last fiscal from Rs 1,838.82 crore in the corresponding period of the previous year, the company informed in a regulatory filing

Needed: An underwater PM Gati Shakti

India's blue economy strategy hinges on developing robust underwater domain awareness, a critical yet overlooked aspect

Mahindra Lifespace FY24 results: Profits slip; sales at record Rs 2,328 cr

Mahindra Lifespace Developers Ltd has reported a marginal decline in consolidated net profit to Rs 97.89 crore during the last fiscal year on lower income. Its net profit stood at Rs 101.43 crore in the preceding year. According to a regulatory filing on Friday, the company's total income fell to Rs 279.12 crore last fiscal from Rs 659.56 crore in 2022-23. Mahindra Lifespace is the real estate and infrastructure development business of Mahindra Group. During the fourth quarter of last fiscal, the company's consolidated net profit surged to Rs 71.15 crore from just Rs 55 lakh in the year-ago period. Total income declined to Rs 54.60 crore in the quarter as against Rs 270.26 crore in the year-ago period. Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers, said, "We closed FY24 with our highest ever annual sales driven by successful launches throughout the year." Additionally, he said the company closed 2023-24 fiscal year with over Rs 4,400 crore of GDV (gross ...

World Bank, IT ministry to come up with state-level DPI adoption index

'The state-level DPI index will help analyse gaps to strengthen the digital economy, support financial inclusion and increase public-private innovation'

Railways on track to meet target of 100% electrification by FY25

Notably, the railways had electrified only 3,306 km of tracks in the previous financial year by February

UNGA Prez Francis lauds digitalisation, infrastructure investment in India

UN General Assembly President Dennis Francis has lauded India's use of digitalisation that has helped achieve financial inclusion and poverty reduction, underlining that this gives the country a comparative advantage and its lessons can be shared with the global community. Let me say first of all that since I've been to India, every time I think of India, I think Incredible India'. And I mean this in all earnest .And I saw it when I was there. The specific example to which I can refer is India's use of digitalisation, Francis, President of the 78th session of the UN General Assembly, told PTI in an exclusive interview here. He referred to the country's tourism tagline of 'Incredible India.' Francis was in India from January 22-26 this year on an official visit, during which he held a bilateral meeting with External Affairs Minister S Jaishankar in New Delhi and also travelled to Jaipur and Mumbai. During the visit, his interactions with government officials, civil society members a

Indiabulls Real Estate to raise Rs 3,911 cr from Blackstone Group, others

Indiabulls Real Estate said its board has approved raising Rs 3,911 crore through the issuance of shares and warrants to investors, including the Blackstone Group and Embassy Group. Global investment firm Blackstone will invest Rs 1,235 crore, while the Bengaluru-based Embassy Group will infuse Rs 1,160 crore. After the conversion of the warrants, the Embassy Group will hold 18.7 per cent while Blackstone will own 12.4 per cent. In a regulatory filing on Friday, IBREL (Indiabulls Real Estate Ltd.) informed that the board has approved "fund-raise via preferential issue of equity shares and convertible warrants, on a private placement basis, for cash consideration, aggregating to approx. Rs 3,910.93 crore". The move is aimed at recapitalising its balance sheet and positioning the company for organic and inorganic growth purposes. These include capital expenditure for the completion of existing projects and new launches as well as proposed acquisitions, other working capital requirem

Lapataganj of dropped govt and private sector projects hits a high

The previous high of projects for which there is no information was in March 2019, an election year

Homes priced above Rs 1 cr corner highest share ever in total sales: Report

Those priced below Rs 50 lakh record dip in sales in January-March quarter: Knight Frank

Assam secured over Rs 13,000-crore investments in last 14 months: CM Sarma

Assam has secured investments to the tune of Rs 13,364 crore with employment generation for more than 17,000 people in the last 14 months, Chief Minister Himanta Biswa Sarma said. The investments have been committed through 21 proposals, approved by the state cabinet, under the Industrial and Investment Policy of Assam (IIPA), 2019. The IIPA was amended in 2023 to attract mega investments of Rs 100 crore and more, with permanent jobs for 200 or more, he said in a post on X on Friday. While MoUs for 14 of these proposals were signed earlier, seven agreements were inked on Friday, he said. "In January 2023, we announced a policy to customise incentives for mega investors. Today, 7 more firms committed to create 6,500 jobs through Rs 2,000 cr of investment," Sarma said. In last 14 months, through this policy, Assam has secured investments of Rs 13,364 crore and 17,700 jobs, the chief minister said. Among the companies that have entered into MoUs so far are PepsiCo India, Star Cement

Godrej Properties buys 3 acres in Hyderabad for Rs 1,300 cr housing project

Realty firm Godrej Properties Ltd on Thursday said it has bought around 3-acre land in Hyderabad to develop a housing project with an estimated revenue potential of Rs 1,300 crore. Last month, Godrej Properties forayed into the Hyderabad property market by purchasing 12.5-acre land for Rs 350 crore to develop a housing project having Rs 3,500 crore revenue potential. In a regulatory filing, the company said this is the second land acquisition in Hyderabad. The total development potential on this land is around 1.2 million (12 lakh) square feet of saleable area comprising primarily premium residential apartments. The company expects to generate revenue worth Rs 1,300 crore from this upcoming new project. Godrej Properties did not name the seller and also the deal value of this new land acquisition. Godrej Properties said that this strategic acquisition is in line with its strategy of developing high-quality residential projects across India's leading real estate markets. The land

Property leasing by luxury brands in India jumped 170% in 2023: Report

Consumer preference will 'reshape retail landscape' in the country, it says

PM inaugurates, lays foundation stone of Rs 85,000 cr railway projects

Prime Minister Narendra Modi on Tuesday inaugurated and laid the foundation stone of Rs 85,000 crore railway projects, including the launch of 10 new Vande Bharat trains. The PM launched the projects from Sabarmati area of Ahmedabad in Gujarat after visiting the Dedicated Freight Corridor's (DFC) Operation Control Centre here. He laid the foundation stone of railway workshops, loco sheds, pit lines/ coaching depots, Phaltan-Baramati new line; electric traction system upgradation work and dedicated to the nation two new sections of the Dedicated Freight Corridor between New Khurja to Sahnewal (401 Rkm) section of the eastern DFC and New Makarpura to New Gholvad section (244 Rkm) of the western DFC; western DFC's Operation Control Centre (OCC), Ahmedabad. The PM flagged off 10 new Vande Bharat trains between Ahmedabad-Mumbai Central, Secunderabad-Visakhapatnam, Mysuru-Dr MGR Central (Chennai), Patna- Lucknow, New Jalpaiguri-Patna, Puri-Visakhapatnam, Lucknow-Dehradun, Kalaburagi-Sir M

PM unveils projects worth Rs 55,600 cr in Northeast, including Sela tunnel

Prime Minister Narendra Modi on Saturday unveiled projects worth Rs 55,600 crore in the Northeast, including the strategic Sela tunnel which will provide all-weather connectivity to Tawang in Arunachal Pradesh. The PM unveiled the projects spread across Manipur, Meghalaya, Nagaland, Sikkim, Tripura and Arunachal Pradesh at a programme in Itanagar. The Sela tunnel, constructed at a cost of about Rs 825 crore, is an engineering marvel. It will provide all-weather connectivity to Tawang across Sela pass on the Balipara-Chariduar-Tawang Road in Arunachal Pradesh, a statement said. The project, the foundation stone of which was laid by PM Modi in February 2019, will not only provide a faster and more efficient transport route in the region but is of strategic importance to the country as it is located near the frontier with China. The PM inaugurated the Sela tunnel by flagging off an Arunachal Pradesh State Transport bus that went through it. In all, the PM unveiled development project

Highlights: Interest rate on small savings scheme to remain unchanged

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