Page 17 - Infrastructure

Govt's infra push to spur growth of heating, ventilation, AC sector: ISHRAE

The heating, ventilation, and air-conditioning (HVAC) sector is poised for an unprecedented growth due to increased demand in the coming years on the back of the government's focus on infrastructure investment, say industry players. Finance Minister Nirmala Sitharaman in the annual budget for the 2024-25 financial year has allocated Rs 11.11 lakh crore for infrastructure. Industry stakeholders shared their views during the 23rd edition of ACREX India. The three-day event, being held at Greater Noida, has been organised by industry body ISHRAE and Informa Markets India. "As we observe the remarkable growth trajectory of theC industry and the significant strides achieved through initiatives like the Atal Community Innovation Centre (ACIC) programme, ACREX India emerges as a symbol of opportunity and progress," ISHRAE President Yogesh Thakkar said. "With the substantial government investment of USD 1.45 trillion in infrastructure projects over the next five years, we stand on the brin

Gadkari launches 28 national highway projects worth Rs 6,600 cr in Odisha

Union Road Transport and Highways Minister Nitin Gadkari inaugurated and laid the foundation stones for 28 national highway (NH) projects worth Rs 6,600 crore in Odisha. Though his visit to Odisha was cancelled at the last minute, Gadkari launched these projects virtually. Among the inaugurated projects were a 79km four-lane road between Baharagora and Singhara on NH-49, valued at Rs 1,203 crore, and a 78km six-lane road from Chandikhol to Bhadrak on NH-16, costing Rs 2,035 crore. Additionally, the minister laid the foundation stones for 26 other road infrastructure projects in the state. During the event, Gadkari highlighted the significant progress in national highway development in Odisha since 2014. The total length of national highways in the state has increased from 4,639 km to 5,753 km during this period. The ministry has allocated nearly Rs 1.50 lakh-crore for highway development in Odisha, he added. From 2014 to 2024, around 4,250 km of roads were constructed in Odisha, w

Capacit'e Infraprojects Q3 results: Net profit grows 6% to Rs 30 crore

Capacit'e Infraprojects on Wednesday posted a 6 per rise in its consolidated net profit to Rs 30 crore during the third quarter ended December 2023, driven by higher income. It had clocked a net profit of Rs 23 crore in the October-December period of FY23, the company said in an exchange filing. The company's revenue from operations rose 8.57 per cent to Rs 481 crore against Rs 443 crore a year ago. The EBITDA (earnings before interest, taxes, depreciation, and amortisation) stood at Rs 89 crore compared to Rs 90 crore in the year-ago quarter. The company's order book stood at Rs 9,670 crore as of December 31, 2023, of which the public sector accounts for 65 per cent while the remaining came in from the private sector. The company's Executive Director Rohit Katyal said, "Over the past few years, while our order book size has expanded significantly, our project under execution has reduced, leading to higher revenue contribution per project, better management and improved margin ...

India's record pace in building roads slows down as bills rise, polls near

Terms for building expressways have been changed as the government seeks better utilisation of funds

Siemens results: Profit grows 9% to Rs 506 cr in Dec qtr, order book up 10%

Siemens Ltd on Tuesday posted a 9.2 per cent rise in net profit at Rs 505.7 crore in the first quarter ended December 31 due to higher revenues. The company follows the October to September fiscal year. It had reported a net profit of Rs 462.7 crore in the October-December period of the preceding financial year, Siemens Ltd said in an exchange filing. Its total income rose to Rs 4,989.3 crore over Rs 4,116.8 crore a year ago. Expenses stood at Rs 4,311 crore as against Rs 3,495.7 crore in the first quarter of last fiscal. In a separate statement, the company said it has received new orders of Rs 5,971 crore in the first quarter, a 10 per cent increase over the same period of last year. The first quarter (result) includes significant gain of Rs 103 crore due to positive effects of foreign exchange and commodities, the company said. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, "While strong revenues came in from our digital industries, smart

Public money and public policy

A policy recalibration is needed to reduce the need for continuous expansion of infrastructure in existing cities

Brookfield India Real Estate Trust to distribute Rs 209 cr to unitholders

Brookfield India Real Estate Trust on Monday reported an 89 per cent growth in net operating income to Rs 453.4 crore and declared distribution of Rs 208.56 crore for the December quarter. The distribution comprises Rs 97 crore at Rs 2.21 per unit in the form of interest payment on shareholder loan, Non-Convertible Debentures (NCDs) and Compulsory Convertible Debentures (CCDs), Rs 108.89 crore at Rs 2.48 per unit in the form of repayment of Special Purpose Vehicles (SPV) debt and NCD and the balance Rs 2.63 crore at Rs 0.06 per unit in the form of interest on fixed deposit. In a regulatory filing, the company said it will distribute Rs 208.56 crore at Rs 4.75 per unit to unit holders for the December quarter. The company's net profit declined to Rs 16.57 crore during the quarter from Rs 24.68 crore in the year-ago period. Total income, however, rose to Rs 561.13 crore during the October-December period from Rs 309.34 crore in the corresponding period of the previous year. On ...

Cabinet decision on railways will boost infra, reduce congestion: PM Modi

Prime Minister Narendra Modi on Thursday lauded a host of decisions taken by the Union Cabinet and said the approval of railway projects will boost infrastructure and reduce congestion on busy routes and improve commerce as well as connectivity. The Cabinet chaired by Modi approved six projects of the Ministry of Railways with an estimated cost of nearly Rs 12,343 crore with 100 per cent funding from the central government. The Cabinet's extension of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) will ensure improved credit access for those in the fisheries sector and boost the creation of related infrastructure, the prime minister said in a post on X. The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana, which has been approved by the Cabinet will boost the fisheries sector, especially MSMEs associated with the sector, he added. The government had earlier announced a Rs 6,000-crore scheme in order to formalise the unorganised fisheries sector, facilitate ...

3M India Q3 result: Profit up 8% at Rs 135 cr, smallest rise in 9 quarters

Consolidated profit after tax came increased more than 8% from a year earlier to 1.35 billion rupees (about $16 million) in the third quarter ended Dec 31

Tata Steel, South East Railway join hands to develop sustainable infra

Private steel major Tata Steel on Wednesday said it will jointly work with South Eastern Railway (SER) to develop sustainable rail infrastructure by utilising its slag-based aggregates. A deliberation on the project execution was held between officials of the SER and Tata Steel, the company said in a statement. Utilisation of sustainable alternatives is the need of the hour, and it will also help in conserving the ecology, SER General Manager Anil Kumar Mishra said at the event on Tuesday. Tata Aggreto, a greener substitute of natural aggregates used in road construction, and Tata Nirman, used as a raw material in manufacturing of fly ash bricks and cement making, will be used in construction of blanketing layers in railway tracks. During the deliberation, Rajeev Shrivastava, Chief Administrative Officer (Construction) apprised participants of the plan chalked out to strengthen the rail infrastructure by the Ministry of Railways. In the endeavour to transform steel slag into ...

Man Infraconstruction Q3 results: Net profit falls 4.5% to Rs 86.51 crore

Man Infraconstruction Ltd on Monday posted a fall of 4.5 per cent to Rs 86.51 crore in the December 2023 quarter due to lower income. It had clocked a net profit of Rs 90.60 in the October-December period of preceding 2022-23 financial year, the company said in an exchange filing. The company's total income fell to Rs 261.34 crore as against Rs 471.77 crore in the year-ago period. However, the company managed to trim its expenses to Rs 149.07 crore from Rs 346.21 crore in the third quarter of FY23. EPC firm Man Infraconstruction is into verticals like ports, infrastructure, commercial projects, institutions, IT projects and futuristic lifestyle houses.

Bill for NFIR almost ready; may be introduced in next session: DEA secy

Economic Affairs Secretary Ajay Seth has said that a draft Bill for setting up a National Financial Information Registry (NFIR) is almost ready and it may be introduced in the July session. The objective is to build a public infrastructure for credit-related information and the right information can be made available by the NFIR to lending agencies. A National Financial Information Registry will serve as the central repository of financial and ancillary information. This will facilitate efficient flow of credit, promote financial inclusion, and foster financial stability. "Stakeholder consultations on the draft bill are over now and it is almost ready. We will shortly take it to the Cabinet for its approval but introduction in this session will not be possible," Seth told PTI in an interview. However, he said, the Bill may be introduced in the July session. The July session would be the first session of the 18th Lok Sabha after the general elections in the next couple of months. .

Industry drives the next turn in India's plastic waste roads innovation

A chemistry professor's technology, developed more than 20 years ago, is being improved upon

BMC unveils highest ever Budget at Rs 59,954 cr with focus on health, infra

No new taxes were proposed on Friday in the Brihanmumbai Municipal Corporation's Rs 59,954.75-crore budget for 2024-25, the highest ever, as it made special provisions for the coastal road project and proposed four new schemes, one of them for providing medicines free to patients at civic hospitals for which Rs 1,200 crore was set aside. The expenditure on the health budget was hiked to Rs 7,191 crore from Rs 6,309 crore in 2023-24 and a provision of Rs 340 crore was made for upgradation of footpaths, lanes and bylanes. A sum of Rs 100 crore was allocated for implementation of a scheme for women's security. The budgetary estimates were 10.5 per cent more than the 2023-24 amount of Rs 54,256.07 crore. The administration of India's richest civic body presented the budget for the next fiscal to municipal commissioner-cum-administrator Iqbal Singh Chahal at the BMC headquarters in south Mumbai. Chahal, a senior IAS officer, was appointed the BMC administrator by the Maharashtra ...

Interim Budget: Focus on infrastructure growth sets stage for Viksit Bharat

The government's focus on governance, development, and performance, along with bilateral trade agreements that promote FDI, will prioritise domestic development

Infra Budget rises 16.9%, no big bang announcements for major sectors

Outlay for infrastructure has been increased to Rs 11.11 trillion in FY25, gets mixed reactions from the industry

Govt extends animal husbandry infra fund worth Rs 29,610 cr till 2025-26

The Union Cabinet on Thursday extended the Animal Husbandry Infrastructure Development Fund (AHIDF) till 2025-26. In June 2020, the government had approved setting up of AHIDF worth Rs 15,000 crore. According to an official statement on Thursday, the Cabinet approved the "continuation of Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under Infrastructure Development Fund (IDF) with an outlay of Rs 29,610.25 crore for another three years up to 2025-26." The scheme will incentivize investments for dairy processing and product diversification, meat processing and product diversification, animal feed plant, breed multiplication farm, animal waste to wealth management (Agri-waste management) and veterinary vaccine and drug production facilities. "Government of India will provide 3 per cent interest subvention for 8 years including two years of moratorium for loan up to 90 per cent from the scheduled bank and National Cooperative Development Corporation (NCDC)

Govt to add more medical colleges by utilising existing infra: Sitharaman

The government plans to set up more medical colleges by utilising existing hospital infrastructure and will set up a committee to examine the matter, Finance Minister Nirmala Sitharaman said while presenting the interim Budget for 2024-2025 on Thursday. The minister also said that the government will encourage vaccination for girls in the 9-14 year age group for the prevention of cervical cancer. Various schemes for maternal and child healthcare will be brought under one comprehensive programme for synergy in implementation, Sitharaman said in Parliament. "Several youth are ambitious to get qualified as doctors. They aim to serve our people through improved healthcare services. Our government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. "A committee for this purpose will be set up to examine the issues and make relevant recommendations," Sitharaman said. The newly designed U-WIN platform for managing immunisatio

Core sector growth hits 14-month low of 3.8% in Dec due to high base

Only fertilisers and cement sectors see acceleration in output

Jindal Steel and Power Q3 results: PAT jumps four-fold to Rs 1,928 cr

The company, which has steel, mining and infrastructure businesses, said its consolidated net profit after tax increased to Rs 1928 crore ($232 million) in the three months to Dec. 31, from Rs 518 cr