Infra Projects

Smartworld Developers awards Rs 532 cr contract to Varindera Constructions

Real estate company Smartworld Developers has awarded Rs 532 crore contract to Varindera Constructions for its upcoming project in Gurugram. In a statement on Monday, the company said it has awarded contracts worth about Rs 1,400 crore for its various projects in just six months. "For its upcoming iconic project, Smartworld Sky Arc, the company has awarded the construction mandate to Varindera Constructions Limited for Rs 532 crore. "The project spans 6.9 acres and includes over 900 units in its first phase. Smartworld's total investment in the development of Sky Arc is approximately Rs 1,700 crore," it said. Varindera Construction has a good track record in the construction sector, Vivek Singhal, CEO of Smartworld Developers, said. Incorporated in 2021, Smartworld Developers, which is part of M3m India Group, is developing many projects in Gurugram. It aims to deliver possession of about 50 lakh square feet in the next few months.

HMPL to invest Rs 2,500 crore in 500 MW solar project in Andhra Pradesh

Infra-to-energy player Hazoor Multi Projects Limited (HMPL) has plans to set up a 500 megawatt solar project in Andhra Pradesh at an investment of Rs 2,500 crore. It has already submitted a proposal with the state government to set up the project in Prakasam district over an area of 2,000 acres, as per information shared by the company. The AP government in a communication said New & Renewable Energy Development Corporation (NREDCAP) will facilitate for successful execution of proposed solar park project. The state government has also asked the company to submit its detailed project report (DPR) for the project. HMPL is into renewable energy and building road projects on an engineering, procurement and construction (EPC) basis. Last week, the company made a foray into the domestic renewable energy sector with the development of 1.2 GW of clean energy projects spread across 4,200 acres land in Maharashtra.

Dy CM DK Shivakumar urges Sitharaman to fund Bengaluru infra projects

Karnataka Deputy Chief Minister D K Shivakumar has written to Union Finance Minister Nirmala Sitharaman, requesting the inclusion of more infrastructural projects in Bengaluru in the upcoming Union Budget 2025-26 to reflect its status as the 'Silicon Valley of India'. The letter dated January 23 emphasised that, as a Member of Parliament representing Karnataka, Sitharaman must be aware that Bengaluru, with nearly 1.5 crore residents, urgently requires major infrastructure projects to sustain its growth and maintain its status as a leading technological hub. In his letter, Shivakumar highlighted key infrastructure projects for Bengaluru proposed by the state government that require financial assistance from the Centre. According to him, one of the crucial projects for the city is an underground vehicular tunnel. He mentioned that the East-to-West corridor, spanning 28.5 km from K R Puram Circle to Nayandahalli Junction on Mysore Road and estimated to cost approximately Rs 25,000 cro

Bombay HC dismisses Seclink's plea challenging Dharavi revamp project award

The petitioner, SecLink Technologies Corporation, was the 'preferred bidder' in the first round of bidding, which was later scrapped

Emaar to invest Rs 1k cr in G'gram housing project, targets 2.5k cr revenue

Realty firm Emaar India will invest around Rs 1,000 crore to construct a new luxury housing project in Gurugram amid strong demand for premium residential properties. The company has launched a new project 'Amaris' at Sector 62 in Golf Course Extension Road, Gurugram. "We have launched a new housing project in Gurugram. We are getting a tremendous response from customers," Emaar India CEO Kalyan Chakrabarti told PTI. He said the company will develop 522 apartments in this 6.2-acre project, with a development potential of 15 lakh square feet. Asked about project cost, Chakrabarti said it will be around Rs 1,000 crore excluding land cost. The total revenue potential from this project is estimated at around Rs 2,500 crore, he said. "This project stands as a testament to Emaar's unwavering commitment to providing high-quality living spaces that align with our customers' needs and uphold the highest design standards," Chakrabarti said. He said the project will be completed in the nex

New projects in April-June down over 90% to lowest on record, shows data

Election quarter also marked by lower project completions

Despite 3-year low, project delays remain higher than pre-pandemic levels

Railways have incurred the highest cost overrun

449 infra projects hit by cost overrun of Rs 5.01 trillion in March: MoSPI

As many as 449 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by cost overrun of more than Rs 5.01 lakh crore in March 2024, an official report stated. According to Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,873 projects, 449 reported cost overrun and 779 projects were delayed. "Total original cost of implementation of the 1,873 projects was Rs 26,87,535.69 crore and their anticipated completion cost is likely to be Rs 31,88,859.02 crore, which reflects overall cost overrun of Rs 5,01,323.33 crore (18.65 per cent of original cost)," the ministry's latest report for March 2024 said. According to the report, the expenditure incurred on these projects till March 2024 is Rs 17,11,648.99 crore, which is 53.68 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 567 if delay is calculated on the basis o

443 infrastructure projects hit by cost overrun of Rs 4.92 trillion in Feb

As many as 443 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 4.92 lakh crore in February 2024, an official report stated. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,902 projects, 443 reported cost overruns and 764 projects were delayed. "Total original cost of implementation of the 1,902 projects was Rs 27,08,030.44 crore, and their anticipated completion cost is likely to be Rs 32,00,507.55 crore, which reflects overall cost overruns of Rs 4,92,477.11 crore (18.19 per cent of original cost)," the ministry's latest report for February 2024 said. According to the report, the expenditure incurred on these projects till February 2024 is Rs 16,76,739 crore, which is 52.39 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 568 if the delay is ...

Govt unlocks infrastructure blitz before 2024 Lok Sabha elections

PM launches projects worth Rs 2.3 trillion in a week; more lined up

Modi inaugurates projects worth Rs 4,000 cr in Kochi, lists work for ports

The projects he inaugurated include New Dry Dock at Cochin Shipyard Ltd, International Ship Repair Facility of CSL, and LPG Import Terminal of Indian Oil Corporation Ltd at Puthuvypeen, Kochi

421 infra projects hit by cost overrun of Rs 4.40 trn in Nov, says MoSPI

As many as 421 infrastructure projects, each entailing an investment of Rs 150 crore or more, were hit by cost overrun of more than Rs 4.40 lakh crore in November this year, an official report said. According to Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,831 projects, 421 reported cost overrun and 845 projects were delayed. "Total original cost of implementation of the 1,831 projects was Rs 25,10,577.59 crore and their anticipated completion cost was...Rs 29,50,997.33 crore, which reflects overall cost overruns of Rs 4,40,419.74 crore (17.54 per cent of original cost)," the ministry's latest report for November 2023 said. According to the report, the expenditure incurred on these projects till November 2023 was Rs 15,58,038.07 crore, which is 52.80 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreases to 629 if the delay is ...

Tejasvi Surya meets Shivakumar, requests key infra projects in B'luru South

Providing details on the meeting Surya said on 'X', "Met with the DyCM DK Shivakumar today and discussed important issues relating to Bengaluru city's infrastructure"

Bank of Baroda to raise Rs 10,000 cr to fund infra, housing projects

Bank of Baroda (BoB) on Wednesday said its board has approved a proposal to raise up to Rs 10,000 crore to fund infrastructure and affordable housing projects. The approval is for raising Long Term Bonds for Financing of Infrastructure and Affordable Housing aggregating to a total size of up to Rs 10,000 crore, in single or multiple tranches during 2023-24 and beyond, if found expedient, BoB said in a regulatory filing. The Reserve Bank of India on Tuesday barred state-owned BoB from onboarding new customers on its mobile app 'bob World' following material supervisory concerns. "The Reserve Bank of India has, in exercise of its power, under Section 35A of the Banking Regulation Act, 1949, directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the 'bob World' mobile application," the central bank had said in a statement. The action, the RBI had said was based on certain material supervisory concerns observed in the manner of onboard

B'desh PM Hasina inaugurates largest infra project built with Chinese loan

Bangladesh Prime Minister Sheikh Hasina on Tuesday inaugurated the 82-km Padma Bridge Rail Link, the country's largest infrastructure project built under China's Belt and Road Initiative. Hasina unveiled the Dhaka-Bhanga section of the rail route between Dhaka and Jashore through the Padma Bridge from Mawa Railway Station in Munshiganj. The remaining portion of the project linking Jessore is expected to be launched in June of next year, the Dhaka Tribune reported, quoting project officials. Chinese Ambassador to Bangladesh Yao Wen, who attended the inaugural ceremony, said the Padma Bridge Rail Link is a landmark project under the Belt and Road Initiative (BRI), and also the largest infrastructure project in Bangladesh using Chinese preferential loans. As one of the most important infrastructure projects in Bangladesh, it is estimated to directly benefit 80 million people and boost economic growth by 1.5 per cent, he claimed. The project is estimated to cost Tk 39,246.80 crore, wi

PM Gati Shakti: 6 infra projects worth Rs 52K cr recommended for approval

As many as six infrastructure projects of roads and railways worth Rs 52,000 crore have been recommended for approval under the PM Gati Shakti initiative, an official statement said on Thursday. This takes the total number of projects assessed by NPG to 112 with a total value of about Rs 11.53 lakh crore, since the launch of PM Gati Shakti, it said. These six projects were assessed in the 56th Network Planning Group (NPG) meeting on September 27. The "Group meeting under PM Gati Shakti six project proposals, including four projects of Ministry of Road Transport and Highways and two projects of Ministry of Railways with the total project cost of about Rs 52,000 crore were assessed," the commerce and industry ministry said. 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 location. The initiative was launched to develop an integrated infrastructur

As many as 388 infra projects show cost overruns of Rs 4.65 trn in July

As many as 388 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.65 lakh crore in July 2023, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,646 projects, 388 reported cost overruns and as many as 809 projects were delayed. "Total original cost of implementation of the 1,646 projects was Rs 23,92,837.89 crore and their anticipated completion cost is likely to be Rs 28,58,394.39 crore, which reflects overall cost overruns of Rs 4,65,556.50 crore (19.46 per cent of original cost)," the ministry's latest report for July 2023 said. According to the report, the expenditure incurred on these projects till July 2023 was Rs 15,21,550.38 crore, which was 53.23 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreases to 602 if delay is

Have sent project reports for proposals worth Rs 930 cr to Centre: Goa CM

The Goa government has sent detailed project reports for proposals worth Rs 930 crore to the Centre for funding, Chief Minister Pramod Sawant said. Talking to reporters after chairing a review meeting, Sawant on Tuesday said that Goa's financial situation was good amid various reforms. He said that Goa has submitted to the Centre detailed project reports for various proposals worth Rs 930 crore to be undertaken in the state. The CM said that the state has already submitted 90 per cent of the utilisation certificates for the projects that were approved in the past by the Centre. There are no bills pending (of any contractor by the state government). The State government is also reviewing the loans taken from the agencies like NABARD and SIDBI, he said.

Pradhan reviews progress of infra projects of 43 Education Institutions

Union Education Minister Dharmendra Pradhan on Friday chaired a high-level meeting to review the progress of ongoing infrastructure projects of 43 Higher Education Institutions (HEIs) including IITs, IIMs, IIITs, IISERs and central universities, officials said on Friday. "Ongoing projects of institutions under School Education such as Kendriya Vidyalayas, Jawahar Navodya Vidyalayas, across the country were also reviewed. During the meeting, Pradhan directed the HEIs to speed up and complete the infrastructure projects by the end of the year," a senior Ministry of Education official said. The completion of new projects comprises new academic blocks, labs, hostels and facilities for vocational activities for students of various IITs, IIITs, IIMs, IISERs and central universities.

76 big infra projects worth Rs 5.14 trn evaluated under PM Gati Shakti

As many as 76 key infrastructure projects worth about Rs 5.14 lakh crore of different ministries have been evaluated under the PM Gati Shakti initiative in the last one year, a senior official said on Monday. These projects have been recommended by the Network Planning Group (NPG) constituted under the PM Gati Shakti initiative launched in October 2021. Special secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra said that the usage of the PM Gati Shakti - National Master Plan has increased by the central ministers and states also. On October 13, 2021, the plan was launched with the aim to develop an integrated infrastructure to reduce logistic costs. All logistics and connectivity infrastructure projects, entailing investments of over Rs 500 crore, are routed through NPG. These projects include Gurdaspur-Jammu-Srinagar natural gas pipeline worth Rs 6,931 crore; the Chennai-Trichy-Tuticorin Exp project worth Rs 30,502 crore, and Indo-Nepal .