Key infra sector growth rises to 14-month high of 12.1% in August
New Delhi: The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent.
 

India's manufacturing sector doubles its share in office leasing

The increased activity in India’s manufacturing sector is positively impacting the commercial real estate market, with its share increasing from 6% in 2018 to 15% in 2022, said CUshman and wakefield in its latest report.

Indian office market records 38 million sqft absorption between January-September 2023

The first three quarters of 2023 recorded 38 mn sq ft of gross absorption across top 6 cities, almost equivalent to the gross absorption of corresponding period in 2022; signaling sturdy momentum, despite ongoing global volatility.

NBCC likely to extend revenue target this year: Pawan Kumar Gupta
Pawan Kumar Gupta, CMD, NBCC, says the company follows a cost plus model. “The model is working very well because we get our margin and all costs are billed to the client. So even if there is inflation, that is built to the client. NBCC does not get affected. Financially, it is a very sound model.”

L&T Construction bags mega order for its heavy civil infrastructure business from MMRDA
L&T construction on Friday said that its Heavy Civil Infrastructure business vertical has bagged a mega order worth above Rs 7000 crore from Mumbai Metropolitan Region Development Authority (MMRDA), for the design and construction of an Underground Road tunnel Project between Orange gate, Eastern Free Way to Marine Drive Coastal Road at Mumbai, the company said in a regulatory filing. 

I have mapped out top L&T leadership till 2040: Naik
After a nearly six-decade-long career, Anil Manibhai Naik will end his innings as the non-executive chairman of Larsen and Toubro (L&T) on Saturday. He will, however, continue to be associated with the conglomerate in various capacities for the next two years. Naik, who hands over the reins to SN Subrahmanyan (popularly known as SNS), speaks to Rajesh Kurup and Joydeep Ghosh about his successes and some regrets as well. Excerpts:

Mumbai vs Hyderabad vs Bengaluru vs Delhi vs Pune: Property sale, supply and price trends in Q3 2023
The residential property segment in India remained unstoppable in Q3 2023, despite the usually slow monsoon quarter. According to the latest Anarock Research data, Q3 2023 saw housing sales across the top 7 cities create another new peak with approximately 1,20,280 units sold, against approximately 88,230 units in Q3 2022. Data shows that there has been a 36% annual sales growth in the residential housing segment.

Logistic major Allcargo subsidiaries buys land parcel worth Rs 231 crores in Gurgaon
Logistic major Allcargo Logistics Ltd’s two subsidiaries — Allcargo Inland Park and Jhajjhar Warehousing Private Ltd — have bought two land parcels in Gurgaon for a total consideration Rs 231 crore.

FourKites sets up Asia-Pacific headquarters office in Chennai
Chennai: Leading supply chain visibility platform FourKites has inaugurated its new Asia-Pacific headquarters in the city, the company said on Friday. The APAC headquarters is located at DLF Cybercity in Chennai and would strengthen the company's commitment to sustainable business practices, a company press release said.

UP RERA approves revival of Elegant Infracon stuck project in Greater Noida

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has authorised the developer of Elegant Infracon project in Greater Noida to complete the stuck project with the help of Floral Realtech, another real estate company.

Local office market in India resilient despite global uncertainty

The first three quarters of 2023 saw 38 million sq ft of office space taken up in the top six cities, nearly matching the absorption during the same period in 2022, indicating strong momentum despite global uncertainty, as per a Colliers study.

Schneider Electric India Leases 4.8 lakh square feet of office space in Outer Ring Road, Bengaluru

Schneider Electric India, a subsidiary of the French multinational company, has rented approximately 4.8 lakh square feet of office space in Outer Ring Road (ORR), Bengaluru, from real estate developer Bagmane as part of its expansion plans.

Godrej Properties acquires 109 acres in Nagpur, plans 2.2 mln sq ft residential development

Godrej Properties, the real estate development arm of the Godrej Group, has acquired nearly 109 acres of land parcel in Nagpur. The company is planning to develop primarily plotted residential units on this land parcel and estimates saleable area of 2.2 million sq ft.

Demand for homes with 3 BHK and more on the rise in big cities
In India’s big cities, new homeowners are not ready to settle for smaller houses. The demand is on the rise for big, premium and luxury houses, according to data.  Analysis of the data by real estate data analytics platform Propequity and real estate services company JLL shows that Indians in tier 1 cities like Delhi, Mumbai, Chennai, Kolkata, Pune, and Bengaluru increasingly prefer houses in the premium and luxury segments. Increasingly more of them prefer a house with three or more bedrooms.  

Major push to roadways in Maharashtra! Nitin Gadkari inaugurates NH projects worth Rs 3,695 crore in Washim
Union Minister for Road Transport and Highways Nitin Gadkari on Friday (September 29) inaugurated three significant National Highways (NH) projects worth Rs 3,695 crore in Washim in Maharashtra.

India may aim to monetise USD 24 bn worth of highways by 2027
The Indian government plans to generate revenue of approximately two trillion rupees (equivalent to USD 24.1 billion) by monetising highways in the coming years, said rating agency CareEdge.

NHAI can monetise Rs 2 trn from HAM assets during FY24-27: Report
The authority's roads hold significant potential for asset monetisation in the medium term, and this is expected to be realised through an expanded portfolio of HAM (hybrid annuity model) assets and EPC (engineering, procurement and construction) projects, which have a monetisation capacity -- ranging from Rs 1.75 lakh crore to Rs 2 lakh crore during FY24-27, according to an analysis by Care Edge.
 

L&T bags underground road tunnel project in Mumbai, shares up
Larsen and Toubro Ltd.’s shares were up by 0.19 per cent after the company’s division, L&T Construction, secured a contract from the Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of an Underground Road tunnel project in Mumbai. The project involves the design and construction of twin road tunnels utilising Tunnel Boring Machines (TBMs), connecting them to the existing elevated Eastern Freeway at Orange Gate and the Marine Drive Coastal Road.

Elevating India’s Rail Journey: The Evolution of Railway Station Redevelopment in India
The iconic image of a bustling railway station with its cacophony of announcements, the rhythmic chugging of trains, and the flurry of passengers have long been synonymous with India’s vibrant culture and dynamic transportation network. As the backbone of the country’s massive railway system, railway stations play a crucial role in connecting people, cultures, and businesses across vast distances. However, with the passage of time and the increasing demands of modern travellers, the need for comprehensive redevelopment of these stations has become apparent.

Gwalior Railway Station gets upgraded! Ashwini Vaishnaw shares progress report – Take a look here
Hundreds of railway stations across India are undergoing redevelopment in some way or other. The Amrit Bharat Station scheme has taken the redevelopment of thousands of Indian railway stations under its ambit.