Thursday, September 29, 2022

Table of Contents for Ticker Tape

Ticker Tape- Construction

Nuvoco launches corrosion-resistant concrete


Nuvoco Vistas Corp. Ltd., a cement manufacturing company, launched Concreto CorroSafe – a corrosion-resistant concrete that extends the life of buildings. The advanced concrete mix design is reinforced with corrosion-resistant admixtures that act as inhibitors towards water seepage and rusting, protecting the lifespan of the structures. It is specially designed to increase the density and durability of the concrete mix.


Corrosion is one of the single most leading causes for deterioration of concrete structures as it compromises the serviceability of the structure. Concreto CorroSafe is a differentiated solution developed at Construction Development and Innovation Centre (CDIC) to expand product basket addressing durability challenges of the structures which are severely exposed to aggressive environmental conditions. Premium version CorroSafe+ is offered with specialized mix design, corrosion inhibiting additives and service life prediction for a better performance thus creating value for the customers.


The durability of concrete is an important parameter for the long service life of structures. The special admix of Concreto CorroSafe protects steel and other metal alloys used in construction against water-induced carbonation, and penetration by sulphate and chloride ions. Carbonation occurs when carbon dioxide penetrates the concrete and reacts with water. The resultant reaction reduces the Ph value of the concrete, causing corrosion. Sulphate ions react with concrete, causing it to expand and crack, while chloride ions cause corrosion. Concreto CorroSafe allows the concrete cover to remain intact for longer duration. It makes the structure durable and minimises the repair and maintenance cost by increasing the service life of structures. Initially the product will be available in Mumbai, Goa, Vizag and Bhubaneshwar and later on it will be rolled out in other parts of the country as well. With a strong and durable finish, Concreto CorroSafe is especially suitable for construction in moisture-density areas, industrial buildings, coastal buildings, as well as marine constructions like jetty and dolphin structures. As a strong foundation material, it is recommended for pile, pile caps, or any other substructures. The sturdy and dense concrete is also ideal for load-bearing constructions, such as bridges and metro stations.




Inspire Co-Spaces leases 20,000 sq ft in Ahmedabad to open co-working centre


Flexible office space provider Inspire Co-Spaces has entered into an agreement to lease 20,000 sq ft space in commercial real estate project Westgate on Ahmedabad’s SG highway to start a co working centre.


The proposed hub will be a 300-seater co-working hub in addition to Inspire Co-Spaces’ existing four centers in Mumbai with over 5,000 seats. The company plans to double the seats by 2022 in different cities in India.


The company plans to invest over five crores to build the first flagship center in Ahmedabad city. It further plans to expand to tier 2 cities like Kochi, Indore, Lucknow, etc., in the next 3 to 6 months’ timeframe. The company sees a good traction in the workspace and is excited to see the rapid economic advancement in the coming years. The co-working company has earlier received an investment of $4 million from an angel investor, Ashish Chandna, which they are using strategically to expand their footprint in all tier 1 and tier 2 cities.


Ahmedabad is in the top 10 industrial corridors for co-working spaces. Underlining the potential in Ahmedabad, post-Covid many companies, organizations, and entrepreneurs prefer co-working spaces; hence the company is confident that this launch will meet the demand for co-working space. Before going live, more than 50% of seats have been occupied. This workspace is designed to maintain recommended safety and hygiene standards to enable a healthy and safe work environment. This first center in Ahmedabad will be operational by mid-June. Post-Covid, many SMEs, corporates, and entrepreneurs are looking for hybrid workspace arrangements with less risk and minimum investment.




Adani Enterprises incorporates new subsidiary for cement business


Adani Enterprises Ltd revently incorporated a wholly-owned subsidiary, Adani Cement Industries Limited (ACIL), to manufacture all types of cements. The new company will carry on business as manufacturers, producers, processors of all types of cements. ACIL is yet to commence its business operations.



Ashiana Housing Ltd acquires 22.1 acres in Gurgaon for group housing project


Ashiana Housing Ltd. has acquired certain land admeasuring approximately 22.1 acres situated in the revenue estate of village Wazirpur, in Sector-93, Gurgaon Manesar Urban Complex, Gurgaon, Haryana.

Group housing project is planned on this land with potential saleable area of approximately 21 Lakhs square feet, with a floor space index of approximately 17 Lakhs square feet.




Kimberly-Clark launches project to recycle single-use plastic to build houses


Kimberly-Clark India has launched ‘Project Ghar’ in partnership with the Plastics for Change India Foundation, an initiative to deliver sustainable housing facilities to on-ground waste collectors in India.


Over a period of six months, a total of 30 tons of single-use and multi-layered plastic will be recycled to construct 15 houses in the Hubli - Dharwad region in Karnataka. Apart from directly reducing plastic waste, ‘Project Ghar’ is a step towards advancing the well-being of an underserved and underrepresented community. Once successful, the project will be extended to several other parts of the country as well. Kimberly-Clark, fulfilling its extended producer responsibility (EPR), plans to connect with stakeholders across the value chain – from waste collectors to recyclers and waste processors. Over the years, Kimberly-Clark has launched several such initiatives and partnerships to reduce the environmental footprint and make lives better through purpose-driven actions.




Indian warehousing and logistics sector on a higher growth path: Report


Indian cities are among the many least costly markets by way of leases for warehousing and logistic facility, in response to a report by worldwide property advisor Cushman & Wakefield.


Hyderabad and Ahmedabad high the least costly markets listing, together with six different Indian cities. Delhi NCR is on the fifth spot, whereas Chennai and Kolkata occupy the sixth and eighth spots respectively, within the 2021 world logistic outlook.


The Indian warehousing and logistics sector has been on a better progress path over the previous 3-Four years. COVID-19 and the following provide chain disruptions coupled with continued progress in e-commerce have put this sector firmly on the centre stage.


Given that the market, until date, has been largely unorganized, the scope for progress in giant, funding grade warehousing developments stays large. Demand has been sturdy during the last 18-24 months with leases firming up throughout main Tier I market.




IHCL signs deal with BACL for a 775-room hotel at Bangalore airport


Indian Hotels Company (IHCL), South Asia’s largest hospitality company, signed an agreement with Bengaluru Airport City Limited (BACL) for a 775-room hotel at Kempegowda International Airport, Bengaluru (BLR Airport). The hotel will be a combination of a 450-room Vivanta and a 325-room Ginger hotel. This will be a management contract with BACL to operate another hotel at BLR Airport where IHCL already operates Taj Bangalore.


Kempegowda International Airport, Bengaluru is one of the fastest growing airports in the world. This new upcoming hotel complex, along with Taj Bangalore, will offer a combined inventory of 1,150 rooms catering to the needs of this dynamic and evolving market.”


The proposed hotel will be strategically located in close proximity to the concert arena that is currently under development, and will be part of the sustainable Airport City being developed by BACL. The Vivanta and Ginger branded hotels will have extensive banqueting facilities to capture the growing potential of the MICE demand. It is slated to open in 2025. With the addition of this hotel, IHCL will have 12 hotels in Bengaluru. IHCL has a portfolio of 221 hotels including 55 under development globally across 4 continents, 12 countries and in over 100 locations.




JSW Cement enters construction chemical segment with green product category


JSW Cement has entered the construction chemical sector with the launch of a unique green product range in the category.


The sector offers new opportunities for JSW Cement to combine innovation in concrete mix products with responsible construction as the product range consumes less water during application.


Also, it replaces use of river sand during concreting with screen slag, thereby conserving natural resources and contributing to prevention of landslides, floods and air pollution.


This makes JSW Cement’s construction chemical products, one of the most environment-friendly range currently available in the market.


Currently, there exists a critical need in the market for consistent quality and regular supply of raw materials for making concrete. An unorganized market for the same also restricts the choice of credible supplies for contractors and individual home builders. All these issues are being addressed by JSW Cement’s Construction chemicals products, which offer consistent and credible quality and availability throughout the year.


The manufacturing unit located a Vijaynagar, in Karnataka will use in-house raw material thereby allowing us greater control over Quality and consistency during the manufacturing process.


The construction chemicals & drymix industry sector is roughly Rs.12000 Cr with an expected CAGR of 10% over the next few years. With advances in green product technologies, this sector will see a dynamic shift from conventional construction mix ratios to extracted by-product engineered compositions. These product segments are expected to grow four-folds by FY25.


The company’s product range comprises Enduro Plast readymix plaster, Krysta Leakproof integral crystalline waterproofing compound and Duraflor floor hardner. With the exponential growth seen over the years in the construction chemicals category, JSW’s focus on dry-mix mortar market is expected to reach a contribution of 10 percent for JSW Cement’s consolidated revenues within the next 4-5 years.




ITC to expand Welcomhotel brand to 25 hotels


Amid COVID-19 pandemic and slump in the hospitality industry owing to lockdown and travel restrictions, ITC Hotels is optimistic about domestic tourism prospects and planning to increase the number of properties under the brand Welcomhotel. The Rs.45,000 crore hospitality arm of ITC, said it was planning to increase the number of properties under the brand Welcomhotel to 25 in a year’s time from 19 now. The brand opened two properties in a span of six months. Welcomhotel Tavleen Chail was unveiled on Thursday and Welcomhotel Shimla about six months ago. And Welcomhotel Ahmedabad and Welcomhotel Port Blair were relaunched in March quarter.


With the addition of the premier mountain resort at Chail, a managed property of Welcomhotel brand, the brand currently boasts a portfolio of around 19 properties across India.




Macrotech Developers forms 2 JVs to build realty projects worth Rs.1,500 crore


Aiming to strengthen its presence in the Mumbai Metropolitan Region and Pune, realty firm Macrotech Developers has formed two joint ventures to build projects with sales value of Rs.1,500 crore and is looking for more such partnerships to grow business. Mumbai-based Macrotech Developer, earlier known as Lodha Developers, got listed on the stock exchange last month after successful launch of its Rs.2,500-crore initial public offering (IPO).


The company has entered into two Joint Development Agreements (JDAs) in Mumbai Metropolitan Region (MMR) and Pune with two real estate companies. The company has huge land bank in MMR and Pune, but not in all micro-markets of these two cities.


The company wants to focus on MMR and Pune for the next 2-3 years. We have land in certain parts of these two cities but not everywhere. In an investor presentation, Macrotech Developers informed that it has entered into two JDAs, first at Western Suburbs (Malad) having an estimated GDV (Gross Development Value) of around Rs.600 crore and second at Pune (NIBM) with estimated GDV of around Rs.900 crore.




Lodha expects to add several other such joint development projects over the next 12-24 months.


Lodha expects that joint ventures will contribute in the range of Rs.3,000 to Rs.4,000 crore of annual sales in 2023-24. Macrotech Developers is targeting to bring down its net debt to zero over the next three years from the current borrowing level of around Rs.16,000 crore. Macrotech Developers sold properties worth Rs.5,968 crore during the financial year 2020-21 as against Rs.6,570 crore in the previous year.


To speed up the pace of construction, Lodhas will double its investment on construction to Rs.2,800 crore in this fiscal. The company’s construction spend stood at around Rs.1,400 crore during the last fiscal year. It delivered 2.7 million sq ft area last fiscal year as against 15.7 million sq ft in 2019-20.



Real estate sector needs quick assistance to stay afloat: Developers


RBI’s restructuring circular, where a borrower can approach the lender and request a loan restructure will help in maintaining confidence in the market, according to real estate developers. The second wave of the Covid-19 outbreaks has affected the individual borrowers immensely. Many of the borrowers will not be able to begin paying their EMIs on schedule. Now they can approach the lender and request a loan restructure without affecting their credit rating based on the RBI’s restructuring 2.0 circular. Real estate developers are expecting a sector specific relief from the government.


The sector needs quick assistance to stay afloat.



JSW Steel’s May 2021 crude steel production grows by 10% to 13.67 lakh tonnes


Steelmaker JSW Steel recently reported a 10% year-on-year growth in May crude steel production at 13.67 lakh tonnes as against 12.48 lakh tonnes in the same period last year. The capacity utilization remained at 91% in May’21 as the Liquid Oxygen supplies were over 30,000 tonnes for medical purposes in May’21 from the Steel Complexes of the Company across India, as against over 20,000 tonnes in April’21. The company’s rolled products’ production grew by 10% year-on-year to 9.99 lakh tonnes as against 9.05 lakh tonnes. The long products’ production grew by 55% year-on-year to 3.09 lakh tonnes indicating growing a better growth in demand for construction and infrastructure.


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