15 October 2019

Table of Contents for Ticker Tapes





Ticker Tape- Construction

KURNOOL CITY TO BE BEAUTIFIED

Rs.166.77 crore has been sanctioned for the beautification of Kurnool City by the Andhra Pradesh Government. The government sanctioned Rs.10 crore for deepening borewells, flushing and pipeline repairs and 486 works were taken up to ensure efficient water distribution and clean drinking water. They also intend to provide drinking water and buttermilk for labourers working in humid climates.  Water was being supplied to 354 habitations facing acute drinking water scarcity. Ten thousand borewells were sanctioned in command areas under NTR Jalasri scheme. Two lakh mandays of work was being provided under NREGS and one lakh farm ponds would be dug by July and 5,389 checkdams were sanctioned to the district.

 

KKR FUNDS PURANIK BUILDERS

To fund two of its residential projects in Pune namely, Abitante and Aldea Esponola, Puranik builders has signed a definitive agreement with  global private equity firm KKR according to which the developer will receive Rs.300 crores. KKR which finances projects from its real estate-focused non-bank finance company (NBFC), a vehicle which counts GIC of Singapore among its partners is looking forward tap opportunities in the Pune residential market and hopes this Rs.3000 crore funding as capital will facilitate Puranik to attain exponential growth.

 

RUNWAL GROUP GIVES MULUND RUNWAL GREENS

Spread over a sprawling 22-acre campus in Mulund, Runwal Group launched its luxury residential project called Runwal Greens which comprises of 1,636 apartments across eight towers. Each tower has 36 to 40 floors and offers the buyer options of premium 3BHK residences with 1,690 sq ft area, 3.5 BHK with 2160 sq area priced at Rs.3.72 crore and a 4 BHK with 3,010 sq ft area priced at Rs.5.17 crore. The project is designed to give customers a product with luxurious living and the amenities offered are large green open space running into 7 acres, open spaces, banquet halls, indoor game areas, card rooms, recreation and sit outs, a cricket ground, badminton, tennis and squash courts, three swimming pools, including separate ones for ladies and kids, a yoga deck and dedicated children’s play area apart from a well-equipped gymnasium with sauna, steam and Jacuzzi.

 

PIRAMAL FUND MANAGEMENT INVESTS IN LODHA GROUP

A Central Mumbai project being developed by Lodha Group has found an investor in Piramal Fund Management who has invested Rs.425 crore. Lodha Developers Pvt. Ltd, a 100 per cent subsidiary of the Lodha Group has invested in the construction of premium residences with more than 5 lakh sq.ft. of saleable area. The deal has been structured as a fixed return debt investment with periodic coupon payments and has an appropriate security mechanism in place, including hard asset cover as well as escrow of receivables. 40 per cent of the project has been sold already during its construction.

 

2 NHAI PROJECTS FOR SADBHAV INFRASTRUCTURE

Sadbhav Infra has been declared the bidder who will undertake the project of four-laning of about 43 km of Rampur-Kathgodam section of NH 87 (New NH 9) in Uttar Pradesh and widening of another about 50 km stretch of the Rampur-Kathgodam section of NH-87 (New NH 9,109) in Uttarakhand. Awarded under the hybrid annuity mode, the government will provide 40 per cent of the project cost to the developer to start work while the remaining investment has to be made by the developer. The cost of the project will be Rs.615 crore and the bid project will cost Rs.738 crore. NHAI will contribute Rs.571 crore for the Uttar Pradesh package and Rs.657 crore will be contributed by the bidder. The construction period for both the projects has been fixed at 730 days.

 

UK BASED RED RIBBON ASSET MANAGEMENT PARTNERS WITH ORBIS

To tap into the NRI real estate market,  Red Ribbon has incubated two projects namely Modulex; a full fit-out steel modular buildings and Eco Hotels; world’s first carbon neutral hotel brand. Red Ribbon plans to raise Rs.60 crores collectively for these two projects. Orbis will be responsible for end-to-end transaction and settlement of funds making it easier for NRIs to carry out investment in India. Red Ribbon promotes scalable projects that are incubated by investing its own capital in specifically chosen projects that meet their stringent selection criteria for incubation.

 

 

Rs.15K CR PROJECTS IN NORTH-EAST INDIA

A total of Rs.15,000 crore is the budget to boost road connectivity in the North-east. Rs.6,000 crore of roads projects would be developed in Arunachal Pradesh and Rs.2,000 crore worth of projects each in Meghalaya and Nagaland. The remaining projects would be spread across other states. The National Highways Authority of India (NHAI) is also in the process of completing four-laning of Jorabat-Barapani highway to improve road connectivity between Guwahati and Shillong. The project length is 61.80 km which includes the Umsning Bypass (5.82 km). The NHAI intends to dedicate the 48.76 km Shillong Bypass connecting Umiam in Ri-Bhoi district and Mawryngkneng in East Khasi Hills District and the four-lane Jorabat-Barapani highway to the nation. The cost of road construction in the North-east is four times that in other parts of the country. To ensure local participation, the central government has decided to identify small projects of up to Rs.50 crore and will pay in advance 20 per cent of the cost so that local youth can become involved in developmental works.

 

IT-SEZ IN PUNE AT Rs.1000 CRORE

With an investment of Rs.1,000 crore, Realty firms K Raheja Corp and Gera Developments have partnered for the development and operation of the prime 30-acre land parcel in Pune’s IT hotbed Kharadi. The land parcel will be developed into an ultra-modern IT-SEZ under the Gera Commerzone banner and will yield 3.5 million sq ft of leasable space. After the development both the companies would be co-owning this project and the to start by August and would take about 4 years for completion.

 

AN EXPANSION WORTH Rs.500 CRORES FOR BURNPUR CEMENT

Burnpur Cement plans to invest Rs.500 crore for expansion of its production capacity to 3 million tonnes per annum (mtpa) in the next 3-4 years and the investment for capacity expansion would be around Rs.500 crores which will be spent in the next 3-4 years. The company has two plants, one in Asansol in West Bengal and the other in Patratu district in Jharkhand. Each plant has 0.3 mtpa installed capacity. The company also aims to increase its sales revenue to Rs.250 crore in the next year from Rs.100 crore in the last fiscal. The company has already bagged two limestone mines through auction mode and plans to bag 5-6 limestone mines. They also intend to increase the capacity of their Jharkhand plant to 1 mtpa having raw materials reserve for minimum 50 years.

 

BANYAN HOUSE BY APPASWAMY IN CHENNAI

Property developer Appaswamy Real Estates from Chennai, has announced the launch of its latest residential apartment project at Alandur. The residential hub is close to the airport in south Chennai. It is located close to the Chennai Metro rail network, suburban rail network ,the MRTS extension, the GST Road, the international airport, Guindy as well as Velachery, thereby providing easy access to IT, industrial and commercial hubs. The project will be developed across four blocks with three residential towers of 6-9 floors, and one block fully dedicated for the clubhouse and other amenities. One residential tower is completely dedicated for studio apartments which will have 1BHK units ranging in sizes from 613 sq ft to 623 sq ft. The remaining residential towers will house 2BHK, 3BHK, 3.5BHK and 4BHK units sizes starting from 1,190 sq ft for a 2BHK unit and going up to 2,300 sq ft for a large 4BHK unit. The company has announced a launch price of Rs.7,200 per sq ft.
 

'SMART EXCHANGE FINANCE' LAUNCHED BY SEFL

Srei Equipment Finance Limited ("SEFL"), one of India's largest equipment solution providers, has introduced a unique equipment exchange finance platform which will allow construction equipment owners an opportunity to exchange their old equipment for new ones having higher productivity, better technology and improved fuel efficiency and avail attractive financing solutions. This financial assistance initiative will provide equipment buyers and sellers a market place on one single platform. SEFL in association with JCB India revealed the exchange finance platform in Jaipur, Rajasthan, to allow the owners of JCB equipment to exchange their old equipment for new ones. SEFL provided one-stop financing assistance to the seller and the buyer for their new and old equipment at attractive terms and conditions.

 

CEMENT FIRMS FORECAST DEMAND TO GROW 6-8 per cent IN FISCAL 2017

Ultratech Cement Ltd, ACC Ltd and Ambuja Cements Ltd having finished reporting their fourth quarter earnings, project a 6-8 per cent growth in cement demand this fiscal year, compared to about 3 per cent in the previous year. Improved demand from infrastructure and housing projects backed by the government are the major reasons for growth.  Early signs of a pickup in demand have been visible in the March-quarter earnings. However, pan India average cement prices remained lower at Rs.290 per bag for the March quarter compared to Rs.294 in the previous quarter due to a slump in the South and East markets. However this growth is considered as seasonal and not a trend is what India Ratings and Research, the local unit of Fitch Group Inc has to say.

 

TELANGANA GOVERNMENT TO CONSTRUCT 2,00,000 TWO BEDROOM HOUSES

The Telangana Government will embark on a welfare project which aims to construct 2,00,000 two bedroom houses in rural area which will cost Rs.5,04,000 and in the urban areas it will cost Rs.5,30,000 and Rs.7,00,000 in the urban areas of the Greater Hyderabad Municipal Corporation. The State has fixed the infrastructure cost of each house at Rs.1.25 lakh in rural areas and Rs.75,000 in urban areas of GHMC limits and nine other districts. This project seeks to address the housing needs of middle and lower income groups and it will be fully subsidised by the state. The programme in both rural and urban areas is to be implemented in all the districts by the District Collectors and by the Commissioner in the GHMC areas. The allocation and channelisation of funds is to be made by the Housing Department through the department’s specially constituted project monitoring group.

 

GERDAU STEELS TO INVEST Rs.1,000 CRORE IN AP PLANT
In order to add another two lakh tonne capacity in the next couple of years Brazilian steel major Gerdau Steel plans to invest up to Rs.1,000 crore in its existing plant in Andhra Pradesh. The company’s products are used to make camshafts, crankshafts and gears. The products are priced between Rs.40,000 per tonne and Rs.90,000 per tonne and Gerdau plans to move towards the higher priced bracket by offering improved products and bag more customers who need high-end steel. Gerdau Steel has a three-lakh-capacity steel plant in Tadipatri and it is the largest investment so far from Brazilian company in India. Globally, the company has a total of 20 million tonne capacity, including nine mt in its plants in Brazil. It has presence in 14 countries and has about 60 plants globally.




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