Page 3 - Infrastructure Projects

PM to launch metro line, lay foundation stones of infra projects in Maha

Prime Minister Narendra Modi will be on a visit to Maharashtra on Saturday, during which he will launch several development initiatives costing over Rs 56,000 crore, officials said. Modi will first visit Washim, where he will inaugurate the Banjara Virasat Museum, celebrating the rich heritage of the Banjara community, after offering prayers at Jagdamba Mata temple in Poharadevi and paying tribute at the 'samadhis' of Sant Sevalal Maharaj and Sant Ramrao Maharaj, an official release said. Later in the day, he will inaugurate and lay the foundation stone for various development projects worth over Rs 32,800 crore in Thane. In Mumbai, he will inaugurate the BKC to Aarey JVLR section of Mumbai Metro Line - 3 costing around Rs 14,120 crore, and will also take a ride in the metro between BKC and Santacruz stations. At 12 noon, Modi will launch various initiatives related to the agricultural and animal husbandry sector worth around Rs 23,300 crore in Washim. In line with his commitment

Kalpataru Projects International bags orders worth Rs 2,774 crore

Kalpataru Projects International on Thursday said the company and its arms secured orders worth Rs 2,774 crore. Kalpataru Projects International Ltd (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 2,774 crore, a company statement said. These include new orders in the Transmission & Distribution (T&D) business in overseas markets and the EPC project for Extension of Airport from Airports Authority of India (AAI). The new orders also include Design & Build project for residential buildings in India. Manish Mohnot, MD & CEO, KPIL, said in the statement, "We are pleased with the continuous ordering momentum, especially in our T&D and Buildings and Factories (B&F) business." The order from the AAI will mark our entry into the growing domestic airport sector and further diversify our clientele, he added. The orders in the T&D and ...

EIL bags Rs 4,681 crore orders in FY25 so far, surpasses FY24 total

A 37% rise in the value of orders compared to the whole FY24, driven by new projects in niche chemicals and gas storage

PM Modi chairs PRAGATI meet, reviews projects worth more than Rs 76,500 cr

Prime Minister Narendra Modi on Wednesday chaired a PRAGATI meeting to review the progress of seven key projects, spread across 11 states and Union Territories, having a cumulative worth of around Rs 76,500 crore, his office said. Prime Minister Modi emphasized the fact that every official in the government, at Central or State level, must be sensitized about the fact that delay in projects not only leads to cost escalation but also deprives the public of the intended benefits of the project, the Prime Minister's Office (PMO) said in a statement. Prime Minister Modi earlier today chaired the meeting of the 44th edition of PRAGATI, the ICT-based multi-modal platform for Pro-Active Governance and Timely Implementation, involving the Centre and state governments. This was the first meeting in the third term. Seven significant projects, including two projects relating to road connectivity, two rail projects and one project each of the Coal, Power and Water Resources sectors, were review

RBI mulls softer rollout of infra financing norms amid lender pushback

The central bank faced criticism claiming that the new norms may slow down important govt projects like highways and power plants, which are critical for India's economic growth

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