
CCTV network, power substations & cycle tracks: Gurgaon gets s 141cr infra push
Tired of too many ads? go ad free now
Nearly three years after completing Phase 1, GMDA finally received the green light to begin Phase 2 of the city-wide CCTV surveillance and adaptive traffic management system. GMDA officials said that work would begin shortly after allotting the work to the contracting agency.
The proposal was approved on Monday at a meeting of the high-powered purchase committee (HPPC) chaired by chief minister Nayab Singh Saini.
Phase 1, comprising 1,200 cameras at 218 locations, was completed in Aug 2022. However, the second phase — involving 2,722 cameras at 258 new locations — was awaiting HPPC clearance since GMDA floated tenders in March last year. A GMDA official said, "With approvals now in place, we will move swiftly to issue work orders and mobilise execution. The expanded network will strengthen real-time monitoring, public safety and traffic regulation.
"
The HPPC meeting also cleared two more city projects — a Rs 17.3 crore 66kV substation at Chandu Budhera WTP to power upcoming filtration units and a Rs 14.7 crore cycle track and footpath corridor along sectors 58–61 and 59–61.
The substation will be developed on a 15-acre site, with two 10 MVA 66/6.6kV transformers and two 3,000 kVA 6.6/0.415kV transformers, among other infrastructure. It is expected to be completed within 12 months of allotment.
Tired of too many ads? go ad free now
This is aimed at ensuring uninterrupted power to three new filtration units — one of which is partially operational, another under construction and the third still at the tendering stage. Though the substation will take a year to commission, until then, the new filtration unit at the plant will continue operating on temporary power drawn from an 11kV feeder from the Daultabad substation.
Similarly, 4km of cycle track and footpaths will be constructed along master roads between sectors 58–61 and 59–61, near Golf Course Extension Road.
The project aims to encourage the use of non-motorised vehicles by creating dedicated cycling lanes and improving pedestrian walkways. GMDA has set a nine-month timeline for completion once work begins.
However, two sewerage projects, which are meant to fix overburdened and damaged master lines along Sohna Road and from sectors 33–34 to Hero Honda Chowk and near Basai Chowk, were not approved as the bids quoted were over 50% above estimates. Officials now say that fresh tenders will be issued shortly after revising the estimates.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Economic Times
11 minutes ago
- Economic Times
RBL Bank shares rally 3% as Dubai-based Emirates NBD Bank eyes up to 20% stake
Shares of RBL Bank rose 2.7% to Rs 266.95 on Wednesday after reports said Dubai government-owned Emirates NBD Bank is in talks to acquire up to a 20% stake in the private lender through a significant capital infusion. ADVERTISEMENT The stock, which has rallied more than 21% in the past month and over 64% in the past six, rose for an eighth time in nine sessions. It closed Tuesday at Rs 259.95, up 4.6%, with a market value of Rs 15,831.21 crore. The Emirates NBD Bank PJSC is in advanced discussions to acquire a minority stake in RBL Bank through a preferential allotment. This would mark a primary capital infusion into RBL and help the Dubai-government-owned lender deepen its Asia strategy. The deal, still under negotiation, could be similar in structure to the recent SMBC-Yes Bank investment. Emirates NBD may end up holding around 15–20% of RBL's expanded capital base, just below the open offer threshold, pending regulatory approval. That would translate to an investment of approximately Rs 3,166.24 crore. 'However, the deal is likely to take place at a premium to the current price,' people familiar with the matter told The Economic Times. RBL Bank is entirely publicly owned, with several domestic institutions holding modest stakes. Quant Mutual Fund owns 6.65%, Nippon Life India 3.11%, ICICI Prudential Life 1.06% and LIC 1.19%. Mahindra and Mahindra acquired a 3.48% stake in 2023, while Zerodha holds 1.24%. British International Investment exited its 3.82% holding in April. ADVERTISEMENT The Reserve Bank of India in May granted in-principle approval to Emirates NBD to convert its existing Indian branches in Chennai, Gurugram and Mumbai into a wholly owned subsidiary. The Dubai-based bank also recently launched investment banking operations in India.'There is a deep connect between UAE and India, both diplomatic and commercial. The bank has been eyeing opportunities but has not been very keen to buy into NBFCs (non-banking finance companies) unlike some of their peers,' an industry executive told The Economic Times. 'There is also a lot of synergy in wealth and other product distribution.' ADVERTISEMENT RBL Bank, originally set up 70 years ago in Maharashtra, transformed itself into a national player beginning in 2010, focusing on credit cards and microfinance. However, its differentiated asset strategy is considered cyclical and exposed to stress in unsecured the March quarter, RBL Bank's net profit fell 80% sequentially to Rs 68.7 crore, despite a rise in other income to Rs 1,000 crore. Net interest income dropped 2.3% year-on-year to Rs 1,563 crore. ADVERTISEMENT 'Business growth is gaining traction and slippages are expected to normalise by 2QFY26,' Nitin Aggarwal, analyst at Motilal Oswal told The Economic Times. 'Margins will be flattish to lower before it will claw back up. The trajectory is expected to improve starting FY26. The cards business is expected to grow in the mid-single digits.' Despite the stock's recent rally, analysts say it still trades below book value and remains among the most affordable banking stocks in India, with a P/E ratio of over 21. However, sources caution that talks may not result in a deal. The lender is also exploring a capital raise from institutional investors as a fallback. ADVERTISEMENT If successful, Emirates NBD's move will mark the second major investment from West Asia into an Indian bank this quarter. In April, Abu Dhabi Investment Authority and Warburg Pincus committed Rs 7,500 crore to IDFC First Bank. Also read | Emirates NBD eyes RBL Bank stake for India, Asia play (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)


Hans India
17 minutes ago
- Hans India
MF exposure in NBFCs grow 32.5 pc to reach Rs 2.77 lakh crore in May
New Delhi: The mutual fund exposure in the non-banking financial companies (NBFCs) grow 32.5 per cent to reach Rs 2.77 lakh crore in May, according to a new report. This year-on-year growth was driven by commercial papers (CPs) and corporate debt, which remained over Rs 2 lakh crore for 14 consecutive months, according to a CareEdge Ratings report. The previous records were Rs 2.69 lakh crore in April this year and Rs 2.64 lakh crore in July 2018. However, the share of NBFC credit in total bank credit decreased from 9.3 per cent in May 2024 to 8.5 per cent in May this year, the data showed. The mutual fund industry's total assets under management (AUM) rose to Rs 72.2 lakh crore in May from Rs 70 lakh crore in April. The industry witnessed net inflows of Rs 29,108 crore during the month, with 65 per cent flows from the equity category, according to the latest AMFI data. AUM of equity funds rose 4.83 per cent on-month to Rs 32.05 lakh crore, driven by positive flows and mark-to-market (MTM) gains. Flexi caps witnessed inflows of Rs 3,841 crore, the highest in the equity category for the third straight month. Hybrid fund assets grew 4.43 per cent to Rs 9.55 lakh crore, driven by highest monthly net inflows for the category worth Rs 20,765 crore and MTM gains. Arbitrage funds witnessed the highest inflows within the category, amounting to Rs 15,702 crore. Passive funds category witnessed net inflows of Rs 5,525 crore during the month, marking the 55th consecutive month of net inflows. Gold exchange-traded funds (ETFs) witnessed net inflows during the month, compared with outflows in the previous two months, driven by geopolitical tensions, market volatility and rate cut expectations.


Business Standard
27 minutes ago
- Business Standard
Afcons Infrastructure bags LoC from Reliance Industries for civil work at Jamnagar
Afcons Infrastructure said that it has received a letter of commitment (LoC) from Reliance Industries (RIL) for undertaking civil and structural erection work at RIL's facility in Jamnagar, Gujarat. Shares of Reliance Industries shed 0.35% to Rs 1,522.90 on the BSE. The estimated contract value stands at Rs 175 crore (excluding GST), based on the bill of quantities (BOQ). The tentative completion timeline will be mutually agreed upon by both parties. This project forms part of RILs ongoing infrastructure development at its flagship Jamnagar complex. Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate. It has a legacy of over six decades, with a strong track record of executing numerous technologically complex EPC projects both within India and internationally. Reliance Industries (RIL) is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.