Page 3 - Infrastructure Projects

What are investors betting on? Infrastructure leads thematic fund category

Infrastructure thematic funds are mutual fund schemes that primarily invest in companies operating in the infrastructure sector.

Group taxation regime for infrastructure

Tax consolidation for special purpose vehicles is desirable

Himachal CM Sukhu announces projects worth Rs 696 cr to boost tourism

Chief Minister Sukhvinder Singh Sukhu has said that 11 projects with an outlay of Rs 696.47 crore are underway to give a fillip to the tourism sector in Himachal Pradesh. Presiding over a meeting of the tourism department here last evening, he said tenders have been invited for all these projects, aiming to enhance the influx of tourists in the state, a statement issued here on Wednesday said. "It was essential to enhance the overall tourism experiences in the state and create new infrastructure as tourism is a key sector for our economy supporting the livelihood of thousands of families directly or indirectly," he said. As per the statement, the 11 projects include a convention centre at Dharamshala (Rs 161.91 crore); beautification of Palampur and Nagrota Bagwan (Rs 95.50 crore); wellness centre at Nadaun (Rs 91.42 crore); ice skating rink cum roller skating rink at Dharamshala (Rs 39.51 crore), among others. The chief minister directed the officers to expedite the projects and .

DMRC to prepare project report for Indore-Ujjain, Pithampur metro corridors

The estimated distance for these corridors is 84 km. Phase 1 of the Indore metro line is expected to begin operations later this year

Macrotech Developers Q1 results: Profit jumps to Rs 475 cr on higher income

Realty firm Macrotech Developers on Tuesday reported a 2.7-fold jump in its consolidated net profit to Rs 475.3 crore for the June 2024 quarter on higher income. Its net profit stood at Rs 178.4 crore in the year-ago period. Total income grew to Rs 2,918.3 crore during the April-June period of this fiscal year from Rs 1,671.8 crore in the corresponding period of the preceding year. Abhishek Lodha, MD & CEO of Macrotech Developers Ltd, said, "Q1, FY'25 was our best ever 1st quarter with Rs 4,030 crore of pre-sales our 2nd consecutive quarter of over Rs 4,000 crore pre-sales. The icing on the cake is that these strong pre-sales have come alongside robust embedded EBITDA margins of 33 per cent." "Delivery of strong pre-sales from a diverse portfolio of projects with strong margins showcases the predictability and consistency of our business model," he added. Lodha highlighted that the company's pre-sales in Pune stood at more than Rs 1,000 crore in Q1 (more than 50 per cent of its .

Research, infra allocation will boost innovation in steel sector: ISA

The increased funding for R&D announced in the Budget and the support extended to startups and MSMEs will foster innovation in steel manufacturing, the apex industry association said on Wednesday. Further, the allocation of Rs 11.11 lakh crore is set to enhance national infrastructure, create millions of jobs, and directly benefit the steel industry, the Indian Steel Association (ISA) said in a statement. In her Budget speech on Tuesday, Finance Minister Nirmala Sitharaman announced a slew of measures for sectors, including infrastructure, manufacturing, healthcare, education, startups, and green energy, among others. The Budget's strong emphasis on roads, railways, ports, and urban development will not only generate employment but also improve overall productivity. The increased funding for R&D and the support extended to startups and MSMEs will foster innovation in steel manufacturing, the ISA said. Jindal Steel and Power Ltd (JSPL) Chairman Naveen Jindal said, "The ...

Budget 2024 Updates: Finance Minister Nirmala Sitharaman to present the Union Budget on Tuesday

Union Budget 2024: As Finance Minister Nirmala Sitharaman presents the Union Budget on Tuesday, markets expect tax cuts, infra spending, and a boost to rural demand. Stay with us for all updates

China's June new home prices rise at slowest pace in five months: Survey

The value of new home sales at China's top 100 real estate companies slid 41.6% in January-June from the same period a year ago

Budget 2024: Will recent infrastructure failures attract prompt actions?

Several cases have raised concerns about ongoing roadway projects in India, highlighting frequent delays in their completion

Budget 2024-25 to focus on infra expansion, fiscal consolidation: EY India

EY India said India's economy has shown 'resilience' with GDP expanding by 8.2 per cent in 2023-24 after 9.7 per cent and 7 per cent in the previous two years

SBI raises Rs 10,000 cr via infrastructure bond issuance to fund projects

State Bank of India (SBI) on Wednesday raised Rs 10,000 crore through its fifth infrastructure bond issuance. The country's largest lender raised the funds at a coupon rate of 7.36 per cent. The issue attracted overwhelming response from investors with bids in excess of Rs 19,884 crore and was oversubscribed by around four times against the base issue size of Rs 5,000 crore, SBI said in a regulatory filing. The total number of bids received was 143, indicating wider participation with heterogeneity of bids, it said. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc, it said. The proceeds of bonds will be utilized in enhancing long-term resources for funding infrastructure and affordable housing segments, it said. "Based on the response, the bank has decided to accept Rs 10,000 crore at a coupon rate of 7.36 per cent payable annually. This represents a spread of 21 bps over the corresponding FBIL G-Sec par curve," it said.

Saudi Arabia to become world's biggest construction mkt with large inflows

Aimed at overhauling and diversifying the economy, the kingdom is making large investments in infrastructure

NBCC gets Rs 70 cr contract from Grid-India for interior works in office

State-owned NBCC (India) Ltd has bagged a Rs 70 crore project from Grid Controller of India for executing interior works in new corporate office in the national capital. In a statement, NBCC said it has inked a memorandum of understanding with Grid Controller of India Ltd (Grid-India) for execution of interior, fit outs and other associated infrastructure works for their new corporate office at Ayurvigyan Nagar, New Delhi. "The tentative value of works to be executed under this MoU is approximately Rs 70 crore," it added. The MoU was signed by Alok Kumar, Senior General Manager, Grid-India and Mudit Bhatnagar, CGM (Engg), NBCC in the presence of S R Narasimhan, CMD, Grid-India; K P Mahadevaswamy, CMD, NBCC; B K Sokhey, Director (Finance), NBCC; Saleem Ahmad, Director (Projects), NBCC and other senior officials from both organizations. Earlier, Grid-India, which is responsible for National Load Dispatch, had purchased this new office of around 61,000 sq ft from NBCC at approximatel

New home prices in China decline at fastest pace in nearly 10 years

In annual terms, new home prices were down 3.9% from a year earlier, compared with a 3.1% slide in April

Modi 3.0: Continued capex push for infra, bullet train among priorities

The new railway minister will oversee the execution of several important initiatives in the Centre's 100-day agenda planned before the elections

Domestic commercial vehicle sales likely to dip 4-7% in FY25: ICRA

In February 2024, the industry saw a slight 0.7 per cent year-on-year decline in wholesale volumes, although it managed a 5.1 per cent sequential growth

Market regulator Sebi specifies norms on subordinate units in InvITs

These units will be issued to sponsors or associates upon acquisition of an infrastructure project. Just like mutual funds, which are pooled investments, InvITs too issue units

Vulnerable population: Rising heat on public health infrastructure

Heat preparedness Measures for health care sector

RBI's draft project funding norms may create funding challenge: CareEdge

Reducing debt by 20% is seen as positive for demand-based projects, lowering risks from large repayments and refinancing

448 infra projects hit by cost overrun of Rs 5.55 trillion in Oct-Dec: Govt

As many as 448 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by cost overrun of more than Rs 5.55 lakh crore during December quarter 2023, an official report stated. The Quarterly Project Implementation Status Report (QPISR) on Central Sector Projects (costing Rs 150 crore and above) for the third quarter of 2023-24, contains detailed information on 1,897 projects. The QPISR is prepared by Ministry of Statistics and Programme Implementation. Out of 1,897 projects, 448 projects were having cost overrun of Rs 5,55,352.41 crore, which is 65.2 per cent of their sanctioned cost. However, it stated that with regard to the latest approved cost, 292 projects had reported cost overrun of Rs 2,89,699.46 crore. Further, 276 projects are having both time and cost overruns. Out of 1,897 projects, 56 projects were ahead of schedule, 632 projects were on schedule, 902 projects were delayed with respect to the original schedule of completion. Further,