Top Indian Infrastructure Industry News & Updates - 25 April 2024,Thursday
🏘 Real Estate
PM Awas Yojana 2024: Big update! Now these categories of people will also be covered under Centre’s flagship scheme! Details here
PM Awas Yojana Update: The Centre is reportedly planning to widen the scope and size of its flagship scheme Pradhan Mantri Awas Yojana (PMAY). Now shopkeepers, traders and self-employed will also be brought under the ambit of the scheme, part of the ‘Housing for All’ mission of the central government, CNBC-TV18 reported citing sources.
Home interior solutions brand DesignCafe aims to expand presence to 20 cities
New Delhi: Home interior solutions brand, DesignCafe has turned EBITDA profitable in March on the back of focus on improving gross margins and bringing in operational efficiencies. The brand, which has 15 experience centres across 10 cities currently, will next focus on foray into the Delhi-NCR region this year. Overall, the company aims to expand to 20 cities over the next two years.
SKA Group to develop Rs 592-cr luxury housing project in Greater Noida
NCR-based SKA Group has announced its foray into the luxury segment and launched SKA Destiny One, its maiden luxury residential project located in Sector Zeta 1 in Greater Noida. The company plans to invest Rs 592 crore in the project.
Macrotech’s net profit goes up 21%
Macrotech Developers, which develops properties under the ‘Lodha’ brand, posted a 21% jump in its profit after tax (PAT) at Rs 670 crore in Q4FY24, a tad higher than analyst estimates. Analysts had estimated a profit of Rs 630 crore.
Eldeco scales up platform with HDFC Capital to Rs 850 crore
Eldeco & HDFC Capital announce fresh funding to develop residential projects across India
The Financial Express
64% HNI investors prefer fractional ownership investment model in CRE: Neo-realty survey
📝 Buyer sentiment strong in housing segment, says Magicbricks survey
📝 SKA Group to invest Rs 592 crore to develop a luxury residential project in Greater Noida
📝 High Net Worth Individuals bets on fractional ownership of commercial real estate
📝 Lodha Q4 Results: Net profit jumps 21% YoY to Rs 670 crore; co reports best-ever quarterly, annual presales
📝 Growth in housing prices may moderate this fiscal to five per cent annually: India Ratings
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🛍 Cement
Dalmia Bharat's Q4 profit falls 46.5% y-o-y to ₹315 cr on decline in cement prices
New Delhi: Dalmia Bharat Ltd on Wednesday said its consolidated net profit declined 46.5% year-on-year in January-March to ₹315 crore, hurt by a drop in cement prices that eroded margin.
Kesoram Industries Q4 Results Live : loss rise by 835.4% YOY
Kesoram Industries Q4 Results Live : Kesoram Industries declared their Q4 results on 22 Apr, 2024. The topline increased by 1.72% & the loss increased by 835.4% YoY. As compared to the previous quarter the revenue grew by 11.75% and the loss increased by 400.25%.
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🚃 Railways
Mumbai-Ahmedabad Bullet Train Project: Ashwini Vaishnaw shares major insights on progress of India’s first bullet train – Here’s the latest
Union Railway Minister Ashwini Vaishnaw has confirmed the significant progress of India’s first bullet train, expected to commence operation on the Ahmedabad-Mumbai route by 2026. Over the span of six years, more than 290 km of track out of the total 508 km, including bridges over 8 rivers and construction of 12 stations, have been completed. Minister Vaishnaw expressed confidence, stating, “The work is nearing completion.”
Railways takes over RINL’s forged wheel plant in Raebareli
New Delhi: The Indian Railways has taken over operations of the forged wheel plant of debt-laden RINL (Rashtriya Ispat Nigam Ltd) at Raebareli in Uttar Pradesh., officials in the know told businessline. The take over terms include part payment of cash to the steelmaker -- pegged at ₹800-900 crore -- and a transfer of ₹1000 crore of RINL’s debt to the forged wheel unit.
📝 Indian Railways targets raking in Rs 5,400 crore from scrap sale
📝 Bullet Train: Completion date depends on award of all tenders, says Railways in RTI reply
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