India Cements, the largest cement maker in South India, said its results for the September quarter were hit by GST, sand scarcity in Tamil Nadu and the impact of tougher regulation on the real estate sector. The company reported today a 62% decline in its standalone net profit to Rs 23.67 crore for the September […]
Bharat Heavy Electricals Limited said it won its most valuable contract to set up a 765 kilovolt sub station. The Rs 350 cr contract was won from Powergrid as part of its Medinipur-Jeerat Transmission project. “This is the largest value 765kV Substation project order for BHEL so far. With this, the company has maintained its […]
Larsen & Toubro said its construction arm won orders worth Rs 3,551 crores. The first is a Rs 1,123 crore order from the government. The contract is for design and construction of smart trunk infrastructure with roads, storm water drains, water supply network, sewerage network, utility ducts for power and telecom, reuse water line, pedestrian […]
Construction major Larsen & Toubro said it won a ₹ 1150 crore contract from Oil & Natural Gas Corporation (ONGC) for the transportation & installation of the oil company’s Daman Development Project. The Contract, won against international competitive bidding, encompasses total ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning for the project, the company said. […]
VA TECH WABAG, a construction company that focuses on water project, denied reports that it was insolvent and said it was appealing the recent order of the Chennai bench of National Company Law Tribunal. The bench, at its hearing held on 6th October 2017 has passed an order for initiation of Corporate Insolvency Resolution Process […]
Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited. In December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing […]
Adani Enterprises Limited said it will demerge Adani Green Energy Ltd by cancelling the shares it holds in the subsidiary and issuing new shares directly to the shareholders of the parent company. Shareholders will get 761 shares of the new company for every 1,000 shares they hold in the parent company. They do not have […]
Reliance Infrastructure said it disagreed with the decision by India Ratings, a unit of Fitch, to downgrade its debt over delays in equity infusion and monetization of assets. “The Company respectfully disagrees with the views of India Ratings,” it said today. “The Company has taken series of steps for asset monetization including inter alia filing […]
Kerala’s fourth international airport at Kannur is very close to completion, with 95% of the airside works and 90% of cityside work completed, the government said today. Airside refers to the runway, bays, traffic control tower and so on, while city-side works refer to civilian construction components such as the parking area, approach roads and […]
Reliance Defence and Engineering, controlled by Reliance Infrastructure, said it ‘launched’ the first two of its five patrol vessels being built for the Indian Navy at its shipyard in Pipavav, Gujarat. The ships are being constructed under the “P-21” project. The Company is also engaged in construction of one Training ship and fourteen Fast Petrol […]
Larsen & Toubro Deputy Managing Director and President S.N. Subrahmanyan has taken over as CEO and Managing Director with effect from today. He has been on the company’s board since 2011 and was named the new CEO in April this year. At the meeting on April 7, 2017, the company’s director board had also requested […]
Construction major Larsen & Toubro said its transportation infrastructure and water effluent treatment businesses have jointly bagged an engineering, procurement and construction order worth Rs 1,223 cr from Aurangabad Industrial Township Limited (ATL). The scope of work includes the construction of roads, drains, bridges, potable water network, sewage and common effluent treatment plants, sewerage and […]
GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd, said it won the contract to develop, operate and manage the new international airport of Heraklion at Crete in partnership with a Greek company. GMR Airports Limited will be the designated Airport Operator in the consortium for this project. Heraklion Airport, located in Crete, is the […]
Delhi Airport Metro Express Private Ltd, an associate company of Reliance Infrastructure, said it was awarded compensation of Rs 2,950 crore by a three member Arbitration Tribunal in a dispute with Delhi Metro Rail Corporation or DMRC. The tribunal was constituted from a panel nominated by DMRC. The Award to RInfra has been granted on […]
Airports Authority of India said it has identified eight airports where it intends to carry out commercial real estate development once the government relaxes the relevant rule. The airports are Lucknow, Kolkata, Amritsar, Varanasi, Bhubaneshwar, Jaipur, Raipur and Tirupati, it said in a statement. Separately, the Airports Authority — which owns and operates most of […]
Maharashtra, home state of Nitin Gadkari, accounted for 50% of the new highway development projects sanctioned in the ongoing financial year, data from the ministry of road transport and highways showed. A total of 520 new projects — including expansions — worth Rs 53,264 cr was sanctioned by Gadkari’s ministry in the ongoing financial year. […]
KEC International Ltd, the infrastructure unit of RPG Group, reported a 22.5% rise in EBITDA to Rs 185 cr for its second quarter of FY17. EBITDA margin, which shows how profitable the company’s operations are, increased by 140 bps to 8.7% from 7.3%, reflecting a 28.11% growth in EBITDA to Rs 154.79 cr. “We have consistently […]
RPP Infra projects Ltd said it received a contract worth Rs 254 mln from Tamil Nadu Civil Supplies Corporation to construct scientific storage godown at Kodavasal village & taluk in Thiruvarur district. The godown is of 2500 MT and is to be completed within 24 months. R.P.P Infra Projects Ltd, founded in 1988, is a […]
Paynimo, an advanced retail payment platform from Techprocess, has tied up with Book Your Game, which allows users to discover workouts and group exercises near their location for a subscription fee. Paynimo’s big advantage, compared with other payment gateways, is that it supports sending users text messages with links for making their payment. “It has […]
Prime Minister Narendra Modi inaugurated three hydro-electric projects in Himachal Pradesh, representing 1,732 MW of generating capacity, to the nation today. The biggest of the three is NTPC’s Koldam, which has four generating units of 200 MW each. The second biggest was Parbati Stage-III, which comprises 4 units of 130 MW each and is operated […]
