Page 12 - Infrastructure

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 .

Built to last

Infra spend must focus on climate change

Ceigall India to open Rs 1,253-crore IPO at Rs 380-401 per share price band

Ceigall India IPO details: Ceigall India's grey market premium (GMP) in the unlisted shares' market is Rs 140 as of July 29, 2024

Congress demands thorough impartial review of Great Nicobar infra project

The Congress on Sunday termed the proposed Great Nicobar infrastructure project an "environmental and humanitarian disaster" and called for its thorough impartial review, including by the parliamentary committees concerned. Congress general secretary Jairam Ramesh shared a media report on X which claimed that a high-powered committee (HPC), appointed by the National Green Tribunal (NGT) and tasked with revisiting the green clearance for the Great Nicobar infrastructure project, has concluded that a proposed transshipment port does not fall in the Island Coastal Regulation Zone-IA (ICRZ-IA), where ports are prohibited, but is in ICRZ-IB where these are permitted. In a post on X, Ramesh said, "These are simply games being played at the behest of the Sutradhar, who is pushing for this environmental and humanitarian disaster that the Great Nicobar Mega Infra Project is." "Several questions arise -- How can land categorisation change like this? Surely, some sanctity must be given to the

Budget 2024: Capex for infrastructure intact, ball now in states' court

The effective capital expenditure for the financial year is Rs 15 trillion, which includes close to Rs 3.9 trillion in grants to states for infrastructure creation

EPFO officers raise concern over inadequate IT infra, seeks intervention

Employees' Provident Fund Officers' Association has sought the Union Labour Minister's intervention to improve the information technology infrastructure of the retirement fund body. In a letter to the minister earlier this week, the EPF Officers' Association (EPFOA) said it has been regularly submitting requests for urgent interventions to upgrade the EPF IT systems software, hardware, IT manpower - which are causing acute strain on EPF manpower and adversely affecting EPFO services. The situation has now turned serious with officers and offices reporting significant system deficiencies on a daily basis, the association said. Severely inadequate EPFO IT systems and resultant service bottlenecks are adversely affecting EPF services, it added. The EPFO application software serves as the foundational component of its service delivery infrastructure. The body said it is the primary platform through which our regional offices process and adjudicate member claims. In recent times, the

Houses worth over Rs 4 cr record 27% growth in sales in Delhi-NCR: CBRE

The first half of 2024 witnessed a surge in the luxury housing market in the Delhi-NCR region, driven by affluent buyers, enhanced amenities, and major infrastructure projects, according to CBRE

Govt to overhaul nationwide weather monitoring infra for accurate forecasts

The Ministry of Earth Sciences gears up to harness advanced technologies and expand infrastructure for precise climate prediction and intervention

Public-sector banks make beeline for fundraise via infrastructure bonds

Canara Bank raises Rs 10,000 crore at 7.4% through 10-yr bonds

65% Grade A office space in India's top 7 cities green-certified: Vestian

Southern cities such as Bengaluru, Chennai, Hyderabad comprise 58% of India's total green building stock, says the consultancy

India pushes for plug-and-play DPI models to keep sovereignty: Report

DPI of countries should be universally applicable, says India's G20 task force report

Rays Power Infra receives projects worth Rs 833 cr in June quarter

Rays Power Infra on Monday said it has secured new projects worth Rs 833 crore during the first quarter of the current fiscal. Rays Power Infra is a turnkey solar engineering, procurement and construction (EPC) services player. These projects add over 680 MW to the company's existing portfolio, according to a statement. The company acquired new projects valued at Rs 833 crore in the April-June quarter, it said in a statement. "Securing these projects is a significant step towards our quarterly targets and long-term goals. We remain committed to delivering high-quality projects and maintaining our growth momentum to achieve our ambitious targets," Pawan Sharma, Whole-Time Director of Rays Power Infra, said. The company did not provide any further details related to the projects.

As bridges collapse; tendering, design and climate resilience questioned

Road ministry officials say central bridge projects perform better than state ones due to stricter checks and balances

Canara Bank plans to raise Rs 10K cr through infrastructure bonds in FY25

A Canara Bank official said it expects to raise part of this amount this quarter (Q2FY25) itself, subject to market conditions. It is part of the efforts to diversify sources of funding

Philippine's ex-Prez Duterte, aide accused of awarding contracts to cronies

A former Philippine opposition senator accused ex-President Rodrigo Duterte of plundering state coffers in a criminal complaint filed Friday, alleging that he conspired with an aide to award government infrastructure contracts worth millions of dollars to cronies. Filed with the Department of Justice in Manila, the accusation adds to the former president's legal worries, which include an investigation by the International Criminal Court into allegations of crimes against humanity over the widespread killings of suspects during Duterte's drugs crackdowns. Former Sen. Antonio Trillares IV said two construction companies, owned by the father and brother of longtime Duterte aide and now senator Christopher Lawrence Go, bagged more than 100 government construction contracts worth at least 6.6 billion pesos ($114 million) from 2007 to 2018 in the southern city of Davao, while Duterte was mayor. Neither company had the resources or manpower to handle large-scale infrastructure construction,

6th cyber dialogue: India, UK agree to deepen ties, build robust cyberspace

India and the United Kingdom have agreed to deepen cooperation between their cyber agencies in order to build a safe and robust cyberspace, the Ministry of External Affairs (MEA) said on Thursday. The Sixth Cyber Dialogue between the two sides was held here on Wednesday. "Discussions during the dialogue included cyber-threat assessment, internet governance, data protection, protection of critical infrastructure, capacity building and cooperation in multilateral fora, including the latest developments in the cyber realm at the United Nations," according to a statement issued by the MEA. "Both sides agreed to deepen cooperation between their respective cyber agencies in order to build a safe and robust cyberspace," the statement said. The dialogue was co-chaired by Amit A Shukla, Joint Secretary, Cyber Diplomacy Division, MEA, and Kat Jones, Head of Strategy and Engagement, Cyber Policy Department, The Foreign, Commonwealth and Development Office (FCDO) of the UK. The Indian delegat

New projects in April-June down over 90% to lowest on record, shows data

Election quarter also marked by lower project completions

Core sector growth slows to 6.3% in May due to output deceleration

For the first two months of this financial year, growth in the output of the core industries stood at 6.5%

NIIF-backed Aseem Infra Finance to raise Rs 1,000 crore in equity in FY25

At present, NIIF holds a 59% stake, followed by 31% held by the Government of India, and SMBC holds the remaining 10% stake

458 infra projects hit by cost overrun of Rs 5.71 trillion in May: MoSPI

As many as 458 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 5.71 lakh crore in May this year, according to an official report. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,817 projects, 458 reported cost overruns and 831 projects were delayed. The total original cost of implementation of 1,817 projects was Rs 27,58,567.23 crore, and their anticipated completion cost is likely to be Rs 33,29,647.99 crore, which reflects an overall cost overrun of over Rs 5,71,080.76 (20.70 per cent of original cost), the ministry's latest report for May 2024 showed. According to the report, the expenditure incurred on these projects till May 2024 is Rs 1,707,190.15 crore, which is 51.3 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 554, provided the delay is