Page 2 - Construction Sector

Increased construction activity to balance cement demand: India Cements

The Centre and southern states were expected to retain their thrust in giving a push to housing and infrastructure projects leading to cement demand to remain on track, The India Cements Ltd Vice-Chairman and Managing Director N Srinivasan said on Thursday. Increased house building and construction activity in metros, semi-urban and urban centres would boost cement demand although cost pressure is expected to remain with higher cost of fuel, power tariff, he said. "As in the last two years, the good rainfall reported this year from South -West monsoon season augurs well for improved prospects of rural economy," he told the shareholders at the 76th annual general body meeting held through virtual mode. During 2021-22, he said a revival was witnessed in the construction sector which led to the cement demand picking up and it sustained due to increased infrastructure spending by the Centre and States. The industry suffered from steep increase in the cost of production due to ...

HCC's shares jump nearly 20% on completing debt resolution plan

Co to hive off part of debt, receivables to a SPV; to hold 49% stake in SPV

Govt orders, private capex fuel KEC's order book by Rs 6,000 crore

The company reported Rs 23,716 crore of orderbook in the fiscal year ended March 2022, up by 18% over the previous year and plans to bid for Rs 1.1 trillion of orders, which are in the pipeline

At 19 km/day, FY23 highway construction way short of Gadkari's target: Data

While the ministry of road transport and highways aims for a record 50 km/day construction target, it has only been able to execute 19 kilometres (kms)/day till August

Construction management start-up Powerplay raises $7.14 mn in funding

The company will use the funds to expand its business in India and abroad. Powerplay said the value of construction managed on its platform from January to June 2022 is worth Rs 7,500 crore

Tier-II Indian cities emerge as major realty growth engines: PropEquity

Report by the firm cites surge in absorption and supply of quality residential properties across price brackets in Ahmedabad, Vadodara, Nashik, Gandhi Nagar and Jaipur

Explosives in Supertech's illegal towers will be placed from Tue: Officials

The process to place explosives within the Supertech's illegal twin towers is scheduled to begin from Tuesday under heavy security cover, according to officials.

Delhi construction workers' woes continue despite uptick in registration

Delhi construction workers welfare board has registered around 6,400% increase in registrations but many remain aloof

L&T Q1FY23 results: How the company performed in the last four quarters

Larsen & Toubro has seen a steady rise in net profits over the previous four quarters

Infra.market raises Rs 390 crore funding from Liquidity Group's arm

The construction market is a USD 140 billion opportunity, the company said, adding that it will also benefit from the USD 2 trillion national infrastructure pipeline announced by the government

Employment gains

Employment increased from 402.9 million in April to 404 million in May

Fall in rural wage, labour crunch in urban areas hit construction sector

Corporate players are expecting construction activity to pick up during the current quarter

Dilip Buildcon hits 52-week low, stock slumps 30% in 5 weeks

In the past three months, the stock has declined 43 per cent on weak executions in the July-September quarter (Q2FY22).

L&T Construction bags significant order from reputed developer

Larsen & Toubro (L&T) on Wednesday said its construction arm has bagged a significant order for its buildings and factories business from a reputed developer. The scope of work includes design and construction of entire civil structure, including waterproofing, masonry, plastering and electrical conduiting, L&T said in a statement. The residential business of buildings and factories has secured this order to construct one of the largest residential townships in Bengaluru. "The project involves construction of 6,768 apartments spread across 39 towers... Additionally, the development entails 149 villas along with club houses, swimming pools and other amenity structures. The total built-up area will be 13.43 million sq ft," the statement said. The project is scheduled to be completed in 42 months, it added. Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

Larsen & Toubro second quarter profit declines 67% to Rs 1,819 crore

Larsen & Toubro (L&T) on Wednesday reported 67 per cent drop in consolidated net profit at Rs 1,819.45 crore for the quarter ended September 30, 2021. The company had posted a net profit of Rs 5,520.27 crore in the year-ago period, L&T said in a filing to BSE. However, the total income during July-September increased to Rs 35,305.04 crore over Rs 31,593.77 crore in the year-ago period, the filing said. "The consolidated net profit after tax (including exceptional items and discontinued operations) for the quarter at Rs 1,819 crore includes Rs 144 crore gain on divestment of stake in hydel power plant in Uttarakhand (a part of the Development Projects Segment) and tax expense of Rs 47 crore arising on transfer of the NxT Digital Business from the Parent to Mindtree Ltd," it said.

Larger cement companies better placed despite higher valuations

Investors appear to have paid heed to the negative aspects in the recent past

Organised sector weathers second Covid wave on job front: Labour survey

Among industries, employment generated by the construction sector rose by 42% and the manufacturing sector by 22%

Follow 14-point rules to avoid pollution: Delhi govt to construction sites

The Delhi government has asked all private construction sites to follow its 14-point guidelines to prevent dust pollution in the city, Environment Minister Gopal Rai said on Friday. The AAP-led government had conducted a review meeting with all state-run agencies engaged in construction work in Delhi and they were told to submit their action plans to prevent dust pollution by September 21. Many private agencies are also involved in construction work in the city. We conducted a meeting with over 50 such companies, including L&T, Shapoorji, among others. "These private construction sites have been asked to comply with the 14-point guidelines to prevent dust pollution within 15 days," Rai said. The minister further said the government also discussed about the problems faced in the construction work last year. Under the 14-point guidelines, construction sites should be covered from all sides using tin sheds. The sites measuring more than 20,000 square metres will have to deploy ...

India adds 16 mn jobs in July mostly in agri, construction sectors: CMIE

India witnessed an addition of 16 million jobs in July mainly in the agriculture and construction sectors, however, the number of salaried jobs fell by 3.2 million in the same month, according to CMIE

Story in numbers: From agriculture to construction, where do Indians work?

Currently, 43% of India's total workforce is employed in agriculture