Construction
Anil Ambani's Reliance Infra to raise USD 350 mn FCCB to repay rupee debt, expansion
The company has debt facilities in form of term loans on non-convertible debentures of Rs 2253 crore and Rs 703 crore respectively, according to a Care Rating report dated February 26 this year.
CFI elects Tata Projects MD & CEO Vinayak Pai as President of national council
Tata Projects MD & CEO Vinayak Pai elected as President of Construction Federation of India's National Council for a two-year term (FY25-FY26). The council includes industry leaders like Akhil Gupta, Priti Patel, Ajit Bhate, Arjun Dhawan, Hardik Agrawal, M V Satish, Nalin Gupta, Krishnam Raju P, Vimal Kejriwal, and Yogen Lal.
India ranked among the top five in the Asia-Pacific region for developmental assets
India emerges as a top global capital destination in Asia Pacific for land and development sites, with significant foreign investments. Colliers's Asia Pacific Global Capital Flows report highlights 73% of foreign investments directed towards ready assets in Q1 2024.
Realty developer TARC reports highest ever pre sale and collection in FY24
Realty developer TARC Ltd achieved record pre sales of Rs 1,612 crore and collections of Rs 415 crore for FY24. The revenue was driven by strong demand in luxury residential properties, especially in Delhi and Gurugram. TARC Kailasa in Central West Delhi, with a revenue potential of Rs 4,000 crore, has seen positive response, with Phase I already sold out. TARC Tripundra, with a revenue potential of over Rs 1,000 crore. The company plans to launch a new project in Gurugram with a total revenue potential of Rs 2,600 crore.
RSIIL bags two projects worth Rs 4,900 crore from MSRDC to develop connecting Pune
Roadway Solutions India Infra Ltd has won two infrastructure projects totaling Rs 4,900 crore from MSRDC. The projects are to enhance connectivity around Pune. The company is the lowest bidder for the Access Controlled Pune Ring Road project valued at Rs 2,251 crore, and the Expressway Connector project from Jalna to Nanded. These contracts have boosted the company's order book to over Rs 11,000 crore, expanding on the ongoing work on the Vadodara Mumbai Expressway.
Corner Office Conversation with Abhishek Lodha, CEO of Macrotech Developers
Macrotech Developers, led by MD Abhishek Lodha, is aiming to be more than just a sales-topping builder. Lodha wants the company to be a consumer goods firm, focusing on accessibility and desired locations for homebuyers. This comes with a boom in India's luxury housing market and a predicted threefold growth in the realty sector by 2034. Listen to Hosts Anirban Chowdhury and Kailash Babar on The Morning Brief podcast for the full interview where Lodha discusses the potential of India's real estate market, challenges of urbanization, and sustainability in the sector. Tune in!
Efkon-Strabag join hands with leading IITs
Efkon-Strabag, a prominent provider of smart infrastructure solutions in India, has formed partnerships with renowned institutions including IIT Bombay, IIT Mandi, and IIT Roorkee to spearhead advancements in transportation systems, landslide management, and road safety awareness. Collaborating with IIT Bombay, the focus is on enhancing knowledge management, joint projects, and engagement activities, with an emphasis on innovation in transportation systems through research on Intelligent Transportation Systems (ITS) and skill-building programs for students.
Buyers want bigger, better homes and are willing to pay for them: Aakash Ohri, Joint managing director, DLF Home Developers
DLF plans to launch 90% of its 11.6 million sq ft projects in FY25 in the super luxury segment, with a revenue potential of Rs 36,000 crore. Concerns arise over projects selling out rapidly, but DLF assures low cancellation rates and high end-user demand. DLF emphasizes timely delivery and a cautious business approach amidst cyclical market trends.
India's infra push to raise demand for TMT bars: Industry players
India consumed 50.3 million tonnes (MT) of TMT bars in FY23, up from 46 MT in the previous fiscal. Domestic manufacturers collectively produced 51 MT TMT bars in FY23 compared with 47.2 MT in FY22.
Must Watch
Construction equipment sales rise 26% to 1,35,650 units in FY24: ICEMA
India's construction equipment industry saw a 26% increase in sales to 1,35,650 units in the 2023-24 fiscal, thanks to the government's infrastructure-led growth agenda. The Indian Construction Equipment Manufacturers' Association (ICEMA) reported that the industry sold 1,07,779 units in the previous fiscal year. The government's infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments.
Shubhashish Homes and Gurnani Group's premium villa project at Ajmer Road, Jaipur marks a strategic alliance between two real estate majors
Developing a premium villa project on Ajmer Road, Jaipur
IRB Infrastructure Trust SPVs make payment of Rs 6,111 crs to NHAI for TOT projects
IRB Infrastructure Trust, an affiliate of IRB Infrastructure Ltd, announced on Monday that its special purpose vehicles (SPVs) have made an upfront payment of Rs 6,111 crore to the National Highways Authority of India (NHAI) for toll operate transfer (TOT) projects. This payment includes Rs 4,428 crore for TOT12 and Rs 1,683 crore for TOT13.
Megha Engineering electoral bond purchases close to bagging contracts for major projects
Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) has emerged as the second-biggest buyer of electoral bonds worth Rs 966 crore, according to data released by the Election Commission of India (ECI) on Thursday.
NCLT admits NCR Rail Infrastructure for insolvency resolution
The National Company Law Tribunal in Mumbai has admitted an insolvency resolution application against NCR Rail Infrastructure due to a default on payment of Rs 71 crore. Lenders including Kalindee Rail Nirman, IDBI Capital Markets & Securities Ltd, and Union Bank of India have also filed insolvency resolution applications.
