Page 2 - Construction Sector

Ashoka Buildcon soars 9%, hits all-time high on order win worth Rs 2,152 cr

The surge came after the company bagged two orders worth Rs 2,150 crore from Maharashtra State Road Development Corporation Ltd (MSRDC)

KNR Constructions stock soars 28% in 3 weeks, nears record high; here's why

The brokerage firm MOFSL said the tender pipeline remains robust with strong order flows expected post elections.

Designer of the tallest building wants to turn skyscrapers into batteries

The concept is similar to widely used pumped hydroelectric plants

This construction company's stock has climbed 229% in one year; here's why

The State-owned company's profit rose 24.6 per cent on a year-on-year (Y-o-Y) basis to Rs 141.5 crore in the March quarter of financial year 2024 (Q4FY24)

Seepage detected in Mumbai's undersea tunnel just 2 months after opening

Maharashtra Chief Minister Eknath Shinde, however, said the water was seeping through the pre-determined expansion joints and the tunnel was safe

NCC shares surge 7% on strong Q4 performance

The industrial building construction company's net profit increased 25.2 per cent in the fourth quarter of financial year 2024 (Q4FY24) to Rs 239.2 crore

Rawlplug and Saketh Seven Star Industries Ltd. Join Forces to Revolutionize India's Construction Landscape

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Construction sector firms' revenues to see 12-15% growth this fiscal: ICRA

India's construction sector entities' revenues are likely to grow by 12-15 per cent in the current financial year, while margins will expand by 25-50 bps, rating agency ICRA said on Monday. It further said that the government's infrastructure push will result in double-digit revenue growth for the construction industry in FY2025. The rating agency said it maintains a stable outlook on the sector with steady growth in operating income, moderate leverage, and healthy coverage metrics. "The aggregate order book-to-sales ratio of ICRA's sample set of companies stood at around 3.9x as of December 2023 (compared to 3.4 times during March-2023), thereby indicating a healthy revenue growth prospect over the medium term," ICRA vice president and co-group head - corporate ratings Ashish Modani said. He said, ICRA expects the revenue growth in FY2025 to remain healthy at 12-15 per cent on a year-on-year basis, albeit slightly lower than the 18-20 per cent revenue expansion assessed for FY2024

What sets Alpha Sand apart, as the best construction material manufacturer and supplier

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Construction growth in Assam created large-scale job opportunities: Sarma

Ongoing construction activities across Assam have created large-scale employment opportunities in the state, Chief Minister Himanta Biswa Sarma said. He also said that youths, in search of employment, were migrating to other states owing to lack of requisite skills, and taking up low-paying jobs there. The chief minister was speaking at the inauguration of a skill training centre at Gogamukh in Dhemaji district on Wednesday. He stressed on the need for the state's youths to get trained in new-age and modern technical work, so that they can equip themselves for remunerative job opportunities available across the country as well as abroad. The Assam government has joined hands with Larsen and Toubro (L&T) to set up the centre with the objective of enhancing the skills of registered construction workers, aligning trained resources in the construction industry, and connecting trainees with future skills and modern technology. Sarma also appealed to the youths to get themselves trained

This state-owned civil construction stock has zoomed over 100% in 1 month

Thus far in the financial year FY24, the stock price of NBCC (India|) has skyrocketed by 375 per cent.

Delhi pollution crisis: Informal sector workers grapple with job loss

Saroj, a 55-year-old construction worker residing near the Bakkarwala landfill site, embodies the challenges faced by informal sector workers amid the escalating air pollution crisis in Delhi. In the wake of frequent construction bans to combat air pollution, Saroj found herself periodically unemployed for the past three months, grappling to make ends meet. For people like her, whose primary income source is construction work, the shutdown presents a formidable financial setback. "There has been no stable construction work since October (Diwali) and we have been sitting at home for three months now. The contractor informs us that work will only resume in a few months when the air pollution situation improves," she said. Working in the construction industry, despite its polluting nature, has become an unavoidable necessity for these workers, exposing them to some of the most severe health repercussions. "Fever, cough and cold and stomach issues are very common for us living close t

Grap-3 restrictions reimposed in Delhi-NCR as AQI dips to 'severe' category

The central government on Sunday ordered a ban on non-essential construction work and plying of BS-III petrol and BS-IV diesel four-wheelers in Delhi-NCR amid worsening air quality in the region. The Commission for Air Quality Management, a statutory body responsible for forming air pollution reduction strategies for the region and their implementation, noted a significant rise in Delhi's AQI (458 and 457 at 10 am and 11 am) due to unfavourable climatic conditions and local pollution sources. Anticipating a prolonged period of severe air quality, the committee decided to implement GRAP Stage-III curbs ('severe' air quality index (AQI) range) immediately to prevent further deterioration. The curbs include a ban on non-essential construction work and the plying of BS III petrol and BS IV deisel four-wheelers in the region. Construction work related to national security or defence, projects of national importance, healthcare, railways, metro rail, airports, inter-state bus terminals,

SJVN secures Rs 10,000 cr construction finance facility from banks

State-owned SJVN Ltd has secured Rs 10,000 crore construction finance facility to fund its upcoming renewable energy projects from a group of leading domestic and international lenders. The construction finance facility is a unique and first-of-its-kind transaction undertaken by a PSU entity and Public Sector Banks, a company statement said on Friday. According to the statement, SJVN has secured Rs 10,000 crore (USD 1.2 billion) construction finance facility to fund its upcoming renewable power projects from a group of leading domestic and international lenders. SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN Ltd, undertook this initiative in association with SBI Capital Markets Ltd (SBI CAPS). SBI CAPS acted as the sole advisor and arranger for the transaction on behalf of SGEL. Construction finance attracted a tremendous response from lenders and was over-subscribed. After detailed discussions and deliberations, proposals from five banks -- Deutsche Bank, Sta

Kalpataru bags orders worth Rs 3,244 cr, forays into metro tunnel segment

Engineering and construction firm Kalpataru Projects International said the company along with overseas subsidiaries and joint ventures bagged new orders worth Rs 3,244 crore and also announced its foray into underground metro rail tunnelling segment. The company said it secured an order for design and construction of an underground metro rail project, marking its foray into electric mobility business with TBM (tunnel boring machine) tunnelling scope. According to a statement, Kalpataru Projects International Ltd (KPIL) along with its joint ventures (JVs) and overseas subsidiaries has secured new orders/notification of awards of Rs 3,244 crore. It has also got orders in the buildings & factories (B&F) business, including KPIL's largest ever design and building contract for a residential project in south India with a built-up area of approximately 13 million square feet from a reputed developer. Besides, the company got orders in the Transmission & Distribution (T&D) ...

UltraTech eyeing Volume expansion in south, unlikely to disturb prices

Deal with Kesoram Industries likely to add 10.75 million tonnes capacity under UltraTech Cement's fold

Germany-based Fischer aims to treble India catch in next 5-7 years

In the last three years, its India business had clocked a compound annual growth rate (CAGR) of nearly 41 per cent, nearly trebling its business size to over Rs 200 crore

Vascon Engineers zooms 8% on Rs 357 cr order win; up 240% so far in FY24

The company received a Letter of Intent worth Rs 356.78 crore from Municipal Secretary's Department of Pimpri-Chinchwad for construction of General Hospital Building in Pune.

Construction ban: Credai asks members to take anti-pollution measures

Amid a ban on non-essential construction in Delhi-NCR due to pollution, real estate developers' body Naredco on Friday extended support to the government but flagged concerns over delay in completing projects while builders' association Credai asked members to take anti-pollution measures at sites. Naredco National President G Hari Babu said pollution concerns everyone and conscious corporate, real estate developers are actively taking measures to curb the menace. The fraternity is with the government in fighting this menace, he said. "But we should understand that stopping construction for one month delays the project by at least three months. Besides, it also impacts livelihood. Since the sector is one of the largest employers of unskilled labour in the country, the ramifications are huge," Babu said in a statement. "Further, the developers also have obligations to financial institutions and to its customers for timely delivery, which, in case of delay leads to extra monetary bur

Escorts Kubota Q2 results: Net profit rises two-fold to Rs 223 crore

Farm and construction equipment manufacturer Escorts Kubota on Friday said its consolidated net profit rose over two-fold to Rs 223 crore for the second quarter ended September, driven by brisk sales in the construction and railway equipment segments. The company had reported a net profit of Rs 99 crore in the July-September period of the last fiscal. The total income increased to Rs 2,154 crore in the second quarter of the current fiscal from Rs 1,969 crore in the year-ago period, Escorts Kubota said in a regulatory filing. The company said tractor sales declined to 22,024 units in the second quarter as against 23,703 units in the corresponding period last year. On the other hand, construction equipment volume went up 72 per cent to 1,577 units in the September quarter as compared to 917 units in the corresponding period last year. The company's revenue from railway equipment rose 29 per cent to Rs 234 crore as against Rs 182 crore in the corresponding period last year. Shares o