Page 20 - Infrastructure

CESC net profit rises to Rs 363 crore in Sep qtr on higher revenues

CESC Ltd on Wednesday posted a nearly 14 per cent rise in its consolidated net profit to Rs 363 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the company was Rs 319 crore in the quarter ended September last year, according to a regulatory filing. Total income of the company rose to Rs 4,414 crore in the quarter from Rs 3,977 crore in the same period a year ago. The company's board of directors has also considered exploring the possibilities of substantial investments in renewable energy generation space (up to 3 gigawatt) through its subsidiaries in more than one state in India to increase the company's renewable footprint and partially meet the renewables purchase obligations of its distribution business, the filing said.

Shree Cement beats profit view in Jul-Sep quarter on strong infra demand

According to a Jefferies' pre-earning note, cement prices during the quarter increased ~0.5-1% at the all-India level, with the rates rising the most in the country's eastern region

Mizoram to go for polls tomorrow; Mizo 'identity', infra key issues

The main contest in the state, with almost all its seats reserved for STs, is between the ruling MNF, Congress, and Zoram People's Movement with the BJP keen to emerge as "king maker"

Utility Sempra reports Q3 profit beat on infrastructure unit strength

The segment got a boost from increasing global interest in lower emissions fuels

India becoming favoured destination for FDI in infrastructure sector: Govt

Financial Services Secretary Vivek Joshi has said that India is becoming a favoured destination for Foreign Direct Investment (FDI) in the infrastructure sector as government has taken many supportive measures. Speaking at an event organised by the India Infrastructure Finance Company Ltd (IIFCL) in London, Joshi said flagship initiatives like the National Infrastructure Pipeline, Gati Shakti, Sagarmala, Bharatmala, UDAN and Maritime India Vision 2030, among others, have created a lot of opportunities in the infrastructure sector. The event, organised by IIFCL on October 30, saw participation of investors and other stakeholders from India and the UK. They also discussed potential avenues of investment in India's rapidly growing infrastructure sector. IIFCL Managing Director P R Jaishankar said the company is driving the government' goals for a robust all-round infrastructure development in the country covering all sub-sectors, including road, railways, energy (including renewable ..

PM Gati Shakti: 4 projects worth Rs 23,500 crore recommended for approval

Four infrastructure projects of roads and railways worth Rs 23,500 crore have been recommended for approval under the PM Gati Shakti initiative. These projects were assessed in the 58th Network Planning Group (NPG) meeting on October 17. "Road and railway projects for multimodal connectivity with project cost of more than Rs 23,500 crore were discussed in the NPG," the commerce and industry ministry said in a statement on Wednesday. The meeting was chaired by Special Secretary (Logistics), Department for Promotion of Industry and Internal Trade (DPIIT), Sumita Dawra. She requested the ministries to incorporate the area development planning approach in project planning and have the interactions with states, which should ensure identification of infrastructural gaps and promote integrated planning. The inter-ministerial NPG meets every fortnight and appraises infra projects to ensure multi-modality, synchronisation of efforts, and comprehensive development in and around the project

France announces 100 mn euro loan to support India's Smart Cities Mission

The loan supports India's innovative flagship Smart Cities Mission and builds on the CITIIS 1 programme, also supported by the European Union

Odisha CM Patnaik unveils projects worth Rs 1,200 crore in Kalahandi

Asserting that Kalahandi was the "transformation model" of Odisha, Chief Minister Naveen Patnaik Wednesday unveiled projects worth Rs 1,200 crore in the district. Patnaik inaugurated projects worth Rs 300 crore, which included the Saheed Rendo Majhi Medical College and Hospital and an affordable bus service that will connect the villages to block headquarters. He also laid the foundation stones for projects worth Rs 900 crore. "Kalahandi is our model. From education, health, communication and industry to agriculture, all the sectors have seen positive development, fulfilling the dreams of the people. Kalahandi has changed its history, and added new success stories. Kalahandi is providing rice to the whole country today," the chief minister said. He said that in Kalahandi, 63 buses will run under under the Location Accessible Multimodal Initiative (LAccMI), connecting villages to the block headquarters. Patnaik took a bus ride to Balrampur from the meeting venue in the Kalahandi ...

Core sector output slows to a four-month low of 8.1% in September

Experts say pickup in rainfall expectedly flattened the core sector expansion

Key infra sector growth slows down to 4-month low of 8.1% in September

The growth of eight key infrastructure sectors slowed down to 8.1 per cent in September 2023 against 8.3 per cent recorded a year ago, according to the official data released on Tuesday. Crude oil output dipped by 0.4 per cent in September as against a contraction of 2.3 per cent in the same month last year. The core sector growth in August was 12.5 per cent. The output growth of the eight sectors was also lower at 7.8 per cent in April-September 2023-24 against 9.8 per cent in the year-ago period.

PNC Infratech Q2 results: Net profit rises 11.9% to Rs 147.90 crore

PNC Infratech on Tuesday reported an 11.9 per cent increase in consolidated net profit at Rs 147.90 crore for the quarter ended September 30, 2023. The company had posted consolidated net profit (from continuing operations) of Rs 132.12 crore in the corresponding quarter of the previous financial year. The consolidated income of the company during the July-September period increased to Rs 1,932.35 crore, over Rs 1,819.15 crore in the year-ago period, PNC Infratech said in a regulatory filing. PNC Infratech is a domestic infrastructure company engaged in the execution of projects in core infrastructure sectors including expressways, highways, bridges, flyovers, airport runways, water supply, industrial area development and other infrastructure activities.

Odisha to spend Rs 2,000 cr to create disaster-resilient infrastructure

Odisha Chief Minister Naveen Patnaik on Sunday said his government has decided to spend more than Rs 2,000 crore to create disaster-resilient infrastructure in various parts of the state. Addressing a gathering virtually at a function at Rabindra Mandap here on the occasion of Odisha Disaster Preparedness Day 2023, he said the government was giving priority to resilient infrastructure and state-wide risk mapping would be undertaken for various disasters. Today, we assemble here to deliberate on our disaster preparedness. We remember the valuable human lives lost during the super cyclone 1999. Since then, we have made significant strides in making Odisha safer during disasters. Today, we are a model for other states and countries to follow, Patnaik said. Noting that the state's efforts for effective disaster management have received wide acclaim, the chief minister said Odisha has been bestowed with the prestigious 'Nataji Subash Chandra Bose Apadaa Prabandhan Puraskar' for 2023 by

Jogging on a treadmill: The tale of India's charging infrastructure

Bankability biggest hurdle for public charging stations over low usage, indefinite breakeven period

BAM Digital Realty appoints CB Velayuthan as Chief Executive Officer

BAM Digital Realty, a joint venture between Brookfield Infrastructure and Digital Realty, on Monday announced the appointment of C B Velayuthan as its chief executive officer. BAM Digital Realty in July had announced that Reliance Industries would be joining the entity as an equal partner to form a three-way joint venture. The deal is currently under regulatory approval. The new entity will operate under the brand name Digital Connexion: A Brookfield, Jio and Digital Realty Company when finalized. Velayuthan will lead the India team to deliver on the digital infrastructure needs of this rapidly growing market, becoming a full product spectrum digital infrastructure provider that can support the capacity and connectivity requirements of cloud service providers, hyperscalers and enterprise customers in India and across the world, BAM Digital Realty said in a statement. Velayuthan joins BAM Digital Realty from Equinix as their Global Managing Director of Strategic Alliances. Previousl

Genus Power Infrastructures arm bags order worth Rs 3,121.42 crore

Genus Power Infrastructures said that there is a possibility of seeing a "consistent and noteworthy surge" in order volumes over the upcoming quarters of the financial year 2023-24

IMF proposes Pakistan to adopt austerity in new development projects

The IMF suggested that Pakistan's caretaker government should allocate funds for ongoing projects, especially those near completion, instead of starting new ones, as per ARY News

Best of BS Opinion: Need for pragmatism, tackling urban poverty & more

Here is the best of Business Standard's opinion pieces for today

Infrastructure push

The ambition will need policy support

Jharkhand gives nod to ambitious Rs 16,320 cr housing project for needy

The Jharkhand government on Wednesday gave its nod to the ambitious Rs 16,320 crore project for building 8 lakh houses for the needy by March 31, 2026, as promised by Chief Minister Hemant Soren on August 15. Two lakh people will be provided houses in the ongoing fiscal, followed by 3.5 lakh in the next fiscal and 2.5 lakh in the financial year 2025-26 at an expenditure of Rs 4,107 crore, Rs 7,107 crore and Rs 5,107 crore respectively, an official said. "The Jharkhand Cabinet meeting chaired by Chief Minister Hemant Soren gave its nod to 'Abua Awas Yojna (AAY) under which 8 lakh houses will be built by March 31, 2026," the official said after the cabinet meeting. The state government has made a provision for a clean kitchen with three rooms under AAY at a total investment of Rs 16,320 crore, the official said. Hoisting the national flag at the Morabadi Ground here on the 77th Independence Day, Soren had announced: "I had promised three-room houses for all in the state. In the comin

India to spend Rs 143 trillion in infrastructure by 2030, says Crisil

Green investments will also see a five-fold rise from the past seven years to Rs 36.6 trillion