Construction Sector

L&T extends gains, up 3% in three days on securing orders worth Rs 9,500 cr

The hydrocarbon business of L&T on Tuesday has secured major (ranging from Rs 5,000 crore to Rs 7,000 crore) contracts for multiple offshore packages from a prestigious overseas client.

Construction & infra firms among biggest wealth destroyers in past 20 years

They first reported a surge in stock prices and then all went downhill

E&C sector on solid ground; FY24 likely to see outperformance

Despite outperformance, sector stocks have a potential upside of 15-25% in the next 12 months

Five builders booked in Thane due to MahaRERA norm irregularities

Five builders were booked for alleged irregularities to obtain MahaRERA registration for their projects in Kalyan Dombivali in Maharashtra's Thane district, a police official said on Thursday. They are accused of forging documents and submitting bogus ones to obtain permission from MahaRERA and local bodies, the Khadakpada police station official said. "The five were booked on Wednesday for forgery and other offences. This takes the total number of developers booked to 70. Earlier, 65 developers were booked for similar offences by Manpada and Ram Nagar police," he said.

Lodged 6,900 consumer complaints, disposed of 9,300 in 2022: UP RERA

The Uttar Pradesh Real Estate Regulatory Authority (RERA) on Thursday said it disposed of roughly 9,300 consumer complaints in 2022, on an average 25 cases daily. The UP RERA was established in 2017 to regulate the fast-growing real estate sector, bring transparency, protect the interest of homebuyers and ensure speedy resolutions of disputes of consumers and builders. In a statement, the UP RERA said it lodged approximately 6,900 complaints in 2022 and disposed of almost 9,300 complaints of aggrieved allottees. "Maximum complaints had been registered in the month of March 2022 - 695. In the month of December 2022 only 320 complaints have been registered, the lowest in 2022," it added. The authority said it has received approximately 47,000 consumer complaints, which is about 38 per cent of the total complaints filed across the country. Functioning with three members, one secretary and one chairman, the UP RERA said it has disposed of more than 42,000 complaints, which is about 41

Vizhinjam protest against Adani port called off after 138 days

Govt has already told agitators that construction work won't be stopped, but is said to have accepted all their demands

Listed real estate majors home in on market-share gains, price hikes

The sector has been able to offset interest rates, input cost pressures

Sonear Industries to set up 2 units in Haryana, UP for about Rs 150 cr

Company that provides interior design solutions entering laminated boards business

Construction tech key for India to achieve zero emissions by 2070: H S Puri

The minister notes that the built environment generates significant carbon emissions accounting for almost 39% of gross carbon emissions worldwide

Price hikes may not stall cement companies' profit dip: CareEdge

Operating profit margins likely to contract by 320-380 basis points to 16.3-16.8 per cent in FY23, says CareEdge Ratings, as input cost pressures remain

Keystone Realtors shares climb over 3% in stock market debut trade

Shares of Keystone Realtors, which sells properties under brand 'Rustomjee', ended over 3 per cent higher in its debut trade on Thursday against the issue price of Rs 541. The stock listed at Rs 555, reflecting a gain of 2.58 per cent from the issue price on the BSE. It further rallied 5 per cent to Rs 568.25. Shares of the firm ended at Rs 557.80 apiece, higher by 3.10 per cent. At the NSE also, it made its debut at Rs 555. It later ended at Rs 556.80, a gain of 2.92 per cent. The company commanded a market valuation of Rs 6,352.08 crore on the BSE. In volume terms, 4.16 lakh shares of the firm were traded at the BSE and over 58.63 lakh shares on the NSE during the day. The initial public offering of Keystone Realtors received 2 times subscription on the last day of the offer on November 16. The IPO had a fresh issue of up to Rs 560 crore and an offer-for-sale of up to Rs 75 crore. Price range for the IPO was at Rs 514-541 a share. Founded in 1995, Keystone Realtors has 32 com

Trident Realty to invest Rs 3,000 crore over 7-8 years in Haryana

Trident Realty will invest about Rs 3,000 crore to build a 200-acre luxury housing township at Panchkula in Haryana as part of expansion plan, its Chairman S K Narvar said. It has acquired this land parcel through insolvency process and invested around Rs 400 crore to settle the loans of financial institutions. It has also provided plots to around 450 stuck homebuyers in this project. The Delhi-based company has presence in Delhi-NCR, Mumbai Metropolitan Region (MMR) and is now making a foray into Chandigarh tri-city through this new project. "We have launched our new luxury residential project Trident Hills in Panchkula. This 200-acre land parcel is located in the foothills of the Shivaliks. We will be developing around 60 lakh square feet area in this township, including villas, group housing, independent floors and plots," Narvar told PTI. The project will be developed over the next 7-8 years. "We will be investing about Rs 3,000 crore to develop this township project," Narvar

Greenfield construction cost for developers up 5-7% in Q3 2022: Report

Labour cost increased 8-10% and reinforcement steel prices went up about 20%, says study scanning cities

Highway construction pace in Oct falls 20% YoY in another month of decline

Dip in October has severely dented prospects of road ministry meeting its target of constructing 12,000-14,000 km of highways in 2022-23

CO2 emissions from buildings, construction sector hit new high: Report

The sector's operational energy-related CO2 emissions reached 10 gigatonnes of CO2 equivalent -- 5 per cent over 2020 levels and 2 per cent over the pre-pandemic peak in 2019.

Delhi CM announces Rs 5,000 aid to workers amid ban on construction work

Delhi Chief Minister Arvind Kejriwal on Wednesday directed Labour Minister Manish Sisodia to provide Rs 5,000 each as financial aid to labourers due to pollution-related ban on construction activities in the city. With pollution levels worsening, the Centre's air quality panel had on Saturday directed authorities to impose a ban on construction and demolition activities in Delhi-NCR, except in essential projects, and other curbs under the GRAP III. "Construction activities have been stopped across Delhi in view of pollution. I have directed Labour Minister, Sh Manish Sisodia, to give Rs 5000 pm as financial support to each construction worker during this period, when construction activities are not permitted," Kejriwal tweeted. The AAP government had also in the past provided financial help to registered construction workers in Delhi during the COVID-19 pandemic.

Anti-dust campaign: Fines of Rs 32.4 lakh imposed at construction sites

Delhi Environment Minister Gopal Rai chaired a review meeting with Delhi Pollution Control Committee (DPCC) and Environment Department officers to take stock of the Anti-Dust Campaign on Wednesday

Air quality-driven construction ban may delay realty projects in Delhi-NCR

568,000 housing units are under various stages of completion. Periodic bans by NGT, govt, or apex court in response to poor air quality have serious consequences, say experts

Odisha AAR says separate registration must for construction work in state

The ruling is in conflict with position taken by other AARs; industry wants CBIC clarification

TARC Ltd to invest Rs 500 cr to develop its luxury hsg project by 2025 end

The new three-acre project, TARC Tripundra, will have 190 apartments. It is the first under the TARC brand name, although the Anant Raj Group has been into real estate the past four decades