Construction
Reliance Infra shareholder approve ₹6,000 crore fund-raising plan
Reliance Infrastructure's shareholders approved a plan to raise Rs 6,000 crore through preferential issue and QIP. The first phase involves Rs 3,014 crore, with major investments from promoters and two Mumbai-based firms. This enhances the company's net worth and supports growth in high-growth sectors.
Reliance Infrastructure's Rs 6,000-cr fundraising plan gets shareholders' nod
Reliance Infrastructure shareholders have approved a plan to raise Rs 6,000 crore through a preferential issue of shares and qualified institutional placement. The first phase will involve raising Rs 3,014 crore, with significant investments coming from the company's promoters and major financial entities.
Roadways Solutions India Infra gets projects worth Rs 4,700 crore in Maharashtra
Roadways Solutions India Infra Ltd secures Rs 4,700 crore worth of projects from MSRDC for the Pune Ring Road and Jalna-Nanded Expressway. This boosts RSIIL's order book beyond Rs 10,000 crore, aiming to enhance connectivity, reduce travel time, and promote economic development in Maharashtra.
Bombay HC quashes Bank of India's 'fraud' tag on Pune Buildtech, orders removal from wilful defaulters list
The Bombay High Court has invalidated Bank of India’s decision to declare Pune Buildtech Pvt Ltd ‘fraud’ and 'wilful defaulter,' directing the bank to remove the company's name from related lists. The court noted the firm had settled its dues as per consent terms.
Peak office rent at Nariman Point rises 52 pc since 2018 to Rs 569/sq ft: Knight Frank
Nariman Point in Mumbai has seen a 52% increase in maximum office rent, reaching Rs 569 per square foot since 2018. Knight Frank India projects a 90% growth in rentals by 2030 due to strong demand. Ongoing infrastructure improvements are expected to further boost the area’s appeal for businesses and investors.
Kalpataru Projects International to sell stake in Vindhyachal Expressway for Rs 775 cr
Kalpataru Projects International Ltd signed an agreement to sell its entire stake in Vindhyachal Expressway to Actis Atlantic Holdings. The deal is valued at Rs 775 crore. The sale will finalise upon necessary approvals, expected within 15 months. Kalpataru is specialized in power transmission, water supply, railways, and more.
MMRDA grants two-month extension on ₹14,000 crore road projects after L&T challenge in Bombay HC
Larsen & Toubro Ltd gains a significant win as the Mumbai Metropolitan Region Development Authority extends the deadline by 60 days for bidders to conduct geotechnical investigations for two major road projects worth over Rs 14,000 crore. This decision follows the company's request for more time to assess the project's viability and costs.
IRB Infrastructure toll revenue collection grows 19 pc to Rs 502 cr in September
IRB Infrastructure's toll revenue rose by 19% year-on-year in September, reaching Rs 502 crore. The major contributors were IRB MP Expressway in Maharashtra with Rs 136.8 crore and IRB Ahmedabad Vadodara Super Express Tollway with Rs 58.4 crore. The company remains optimistic about continued growth due to increased travel and economic activities.
Reliance Infra wins Rs 780 cr arbitration case against Damodar Valley Corp
The Calcutta High Court has upheld a Rs 780 crore arbitration award in favor of Reliance Infrastructure Ltd in a dispute with Damodar Valley Corporation. The award stems from a delayed 1,200 MW thermal power plant project in Purulia, West Bengal. The court dismissed DVC's challenge but made some adjustments to the interest and bank guarantee amounts.
NBCC arm bags Rs 1,261 cr contract to build AIIMS hospital in Darbhanga
NBCC's subsidiary, HSCC, has secured a Rs 1,261 crore contract to establish an AIIMS hospital in Darbhanga, Bihar, as announced in a regulatory filing. The contract was awarded by the union health ministry, highlighting NBCC's focus on project management consultancy and real estate.
Must Watch
Anil Ambani's Reliance Group starts transformation journey
Anil Ambani's Reliance Group has announced significant debt reduction and new fund-raising plans, signaling a potential transformation. Reliance Infrastructure and Reliance Power have both seen their market capitalizations surge. The group aims to strengthen its financial position and invest in high-growth sectors, boosting investor confidence.
DND flyover operator Noida Toll Bridge Company gets massive ₹21,000 crore tax relief
The Income Tax Appellate Tribunal has quashed a tax demand of around ₹21,000 crore against Noida Toll Bridge Company Limited. The tax claims spanned nine financial years and included alleged unpaid taxes and penalties. NTBCL operates the Delhi-Noida-Delhi flyover and contested the claims, questioning the jurisdiction of reassessment notices.
Mistry Store launches India's first credit program for building industry professionals
Mistry.Store has launched India's first credit program for building industry professionals, addressing the critical credit gap. The program offers higher credit limits and an interest-free period of up to 60 days, enhancing cash flow management. This initiative aims to boost business growth and profitability for architects, interior designers, and contractors.
JSW Infrastructure approves capex of Rs 2,359 crore for capacity expansion
JSW Infrastructure Limited has approved a capex of Rs 2,359 crore to expand capacity at Jaigarh and Dharamtar Ports. The expansion aims to increase overall capacity to 400 million tonnes per annum by FY2030. Construction is expected to be completed by March 2027, enhancing cargo handling volume significantly.
BCD Group appoints Ashwinder R. Singh as VC and CEO to drive strategic expansion
BCD Group has appointed Ashwinder R. Singh as Vice Chairman and CEO, elevating Angad Singh Bedi to Chairman and Managing Director. Singh brings 27 years of real estate expertise, including leadership roles at Bharti Urban and JLL. He will focus on residential and integrated township development along with reinforcing BCD Group's core competencies.
Road developers to see slower revenue growth of 5-7 pc next fiscal: Crisil
Road engineering, procurement, and construction (EPC) companies are expected to see a moderate revenue growth of 5-7 per cent next fiscal due to lower national highway awarding impacting their order books. Despite this, their credit profiles are expected to remain stable supported by steady operating profitability and strong balance sheets. The slowdown in growth is attributed to various factors including procedural issues and transition-related challenges as the government explores different project models. Prices of key raw materials have decreased, providing some relief.
