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Business Standard
5 days ago
- Business
- Business Standard
Tata Projects eyes order book of over Rs 60,000 cr from infra biz by 2030
The Buildings and Infrastructure (B&I) division of Tata Projects, the engineering, procurement and construction (EPC) arm of the Tata Group, is eyeing an order book of Rs 60,000–70,000 crore by 2030, according to Raman Kapil, Chief Operating Officer, B&I, Tata Projects. The business's order book as of 31 March 2025 stood at around Rs 30,000 crore, featuring projects across segments such as transport infrastructure, residential, commercial and industrial real estate. 'We're targeting metro projects, mega bridges, renewable and nuclear power, and private real estate. We'll go deeper in select cities, particularly in the data centre, aviation and maintenance, repair and operations (MRO) segments,' Kapil said. The company aims to focus more on geographies such as Mumbai, Delhi, Bengaluru and Hyderabad. Meanwhile, the division's annual turnover stood at around Rs 9,500 crore in the financial year 2025 (FY25), against Tata Projects' total income of Rs 17,564.89 crore in FY25. The company's B&I arm aims to grow its turnover to Rs 15,000–16,000 crore by FY30. The B&I division contributes about 50 per cent to Tata Projects' overall revenue. The rest is contributed by the Energy and Industrial (E&I) division of the company. In FY25, Tata Projects incurred a loss of Rs 696.56 crore against a profit of Rs 81.96 crore in FY24. 'Growth comes with challenges. We also have our own share of those challenges. But we have mostly come out of it, and now our paths and our directions are very clear,' Kapil explained. Currently, 60 per cent of B&I's order book is third-party, while 40 per cent comes from Tata Group projects. Kapil stated that there would be more group projects going ahead (45 per cent), leveraging the synergy with group companies. 'We aim to shift to a 55:45 ratio, growing our share of group projects,' he added. Further, the division would prefer private sector projects over government ones. According to Kapil, government sector projects come with challenges—approvals, right of way (RoW) issues and fund flow. 'We focus on financially secured government projects while prioritising private sector opportunities.' The division has been working on government projects such as metro lines across top-tier cities worth over Rs 12,500 crore, the Mumbai Trans Harbour Link worth Rs 2,400 crore (40 per cent stake), and the BDD Chawl redevelopment project in Mumbai worth Rs 11,744 crore (through a consortium of Tata Projects, Capacit'e Infraprojects and CITIC Group). However, going ahead, the company is not very keen to work on redevelopment projects such as that of BDD. 'We aim to complete BDD before taking up similar redevelopment projects. Our focus remains on private sector building projects.' Kapil also emphasised that the company does not want to enter the public–private partnership (PPP) space for the next three to four years. Earlier, in March 2025, Tata Projects decided to raise Rs 2,500 crore through a rights issue. Kapil stated that the fund-raising was to support the company's investments in technology, precast solutions, fabrication facilities in Nagpur, and cleanroom infrastructure for the semiconductor space. 'Our vision is to become a technology-led EPC company—leveraging BIM, drones and AI tools—to enhance speed, quality and risk management—to deliver predictable and sustainable projects through innovation and technology,' Kapil said.
Indian Express
10-06-2025
- Business
- Indian Express
Coffee table book captures impact of infra projects in Maharashtra under Fadnavis
The Indian Express Group unveiled a special coffee table book capturing the scale, vision and impact of various mega infrastructure projects initiated or completed under the leadership of Chief Minister Devendra Fadnavis during his tenure as CM and Deputy CM (since 2014). Titled Mumbai Rising, the book outlines developments that have transformed connectivity, urban transport, public infrastructure and urban housing projects in Mumbai over the past decade. The 88-page book provides a look into transformative years of the state's infrastructure development — when the state received unprecedented investment after by implementation in sectors such as transport, highway, housing, urban transit and logistics. The projects cut across Fadnavis' stints as Chief Minister between 2014 and 2019, as Dy Chief Minister between June 2022 and November 2024 and then as Chief Minister from December 2024. From the recently fully-opened 701-km Samruddhi Mahamarg, which brings Nagpur and Mumbai closer by around 9 hours (from travel time of 17 hours), to the expanding Mumbai Metro network, the book documents projects undertaken by Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra State Road Development Corporation (MSRDC), Brihanmumbai Municipal Corporation (BMC), City and Industrial Development Corporation (CIDCO), Slum Rehabilitation Authority (SRA) and Mumbai Metro Rail Corporation (MMRC) and others. Some key projects featured include the coastal road, the Mumbai Trans Harbour Link (MTHL) also known as Atal Setu, the completed and future corridors of Mumbai Metro, the Thane Creek Bridge 3 and one of the the most-awaited Navi Mumbai International Airport (NMIA); each signifying a direction towards integrated, sustainable and future-ready urban growth. It also includes a section on urban infrastructure in the metropolitan region and road connectivity, covering the improvement of internal roads, expressway extensions, rural bridges and access corridors in Marathwada, Vidarbha and Konkan region. The book traces how infrastructure has been used as a tool of equitable development, bringing connectivity to regions that had long remained on the drawing board. The book is a visual documentation and a narrative of policy decisions and administrative reforms too. It also highlights how these infrastructure efforts were possible due to the synergy between Centre and the state. With Prime Minister Narendra Modi at the Centre, Maharashtra under Fadnavis' leadership was able to pursue its infrastructure ambitions aggressively. 'Mumbai Rising is a tribute to this undying spirit-a curated chronicle of how a city, always in motion, is reimagining itself for the future. In recent years, Mumbai has witnessed a transformative leap across the pillars that define a modern metropolis. The sweeping advances in urban infrastructure, transport, mobility and housing, and the thoughtful establishment of monuments and cultural symbols, convey an overwhelming message-one of vision, growth, and outstanding implementation,' an excerpt from the book's foreword states. With the coffee table book, The Indian Express aims to inform, inspire and preserve the state infrastructure achievement of over a decade — a resource for both today's and future readers to look back at one of Maharashtra's most transformative phases in urban development.
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Business Standard
10-06-2025
- Business
- Business Standard
The Arena by Hiranandani offers 2-4 BHK flats in Panvel from Rs 1.3-1.8 cr
Hiranandani Communities, led by real estate veteran Niranjan Hiranandani, on Monday unveiled its latest premium residential project, The Arena, inside the sprawling 588-acre Hiranandani Fortune City in Panvel. The project consists of over 1,700 luxury residences planned across eight towers, and Phase 1 would roll out three towers with 600 apartments. With homes starting at Rs 1.31 crore for 2 BHKs and Rs 1.77 crore for larger configurations, The Arena is a lifestyle-forward offering, blending luxury with wellness. Set within one of the largest integrated townships in the Mumbai Metropolitan Region (MMR), this development aims to capture the aspirations of upwardly mobile professionals, NRIs, and investors looking for long-term capital growth. Spread over 10+ acres within Hiranandani Fortune City, The Arena doesn't just offer residences—it offers a holistic lifestyle. Residents will have access to not just high-end apartments ranging from 730 sq. ft. to 1,900 sq. ft., but also a sports colosseum and world-class amenities promoting active, wellness-oriented living. Panvel's rise as Mumbai's new growth engine is underpinned by transformative infrastructure: the Mumbai Trans Harbour Link (MTHL), Navi Mumbai International Airport, multimodal freight corridors, and upgraded suburban connectivity. With these game-changing projects, Panvel has quickly turned into a magnet for high-value real estate and commercial investment. An Early-Mover Advantage for Homebuyers According to Dr. Niranjan Hiranandani, 'Panvel is now a fulcrum of economic and real estate growth. The Arena caters to aspirational buyers seeking high-quality, future-ready homes that offer not just comfort, but capital appreciation, rental income, and a strong community.' With over 2,200 apartments already delivered in the township and more than 3,000 residents, Hiranandani Fortune City has proven itself as a thriving self-sustained ecosystem. It houses Asia's largest data center (NM1 by Yotta), global-standard schooling (Hiranandani International), and upcoming healthcare and entertainment hubs. "Hiranandani Fortune City, Panvel, is a 588-acre integrated township designed to redefine elevated living. Comprising luxury residences, Asia's largest data centre NM1 Yotta, retail and commercial office spaces, international school, and plethora of recreational amenities, it is a self-sustainable township in Mumbai3.0. The township has delivered 2200 plus apartments with high occupancy towers and 3000 plus happy customers," the realtor said in a statement. Key Highlights: Location: Hiranandani Fortune City, Panvel Total Development: 10+ acres, 8 towers, 1,700+ homes Projected Phase 1 Revenue: ₹1,100 crore+
Time of India
30-05-2025
- Business
- Time of India
Relief to L&T: MMRDA scraps Rs 14,000-crore Thane-Bhayander tunnel project, SC told
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel In a relief to Larsen & Toubro, the Mumbai Metropolitan Region Development Authority ( MMRDA ) on Friday told the Supreme Court that it has decided to scrap the Rs 14,000-crore Thane-Ghodbunder to Bhayander tunnel and elevated road projects in the Mumbai Metropolitan Region.L&T, India's biggest engineering company by market capitalization, which was disqualified, had last week moved the SC seeking a stay on the opening of financial bids for the two infrastructure projects Senior counsel Mukul Rohatgi told a Bench led by Chief Justice BR Gavai that the entire tender process is being scrapped in the 'larger public interest .'Accepting the MMRDA's stand, the CJI disposed of the L&T's appeal as 'infructuous."The MMRDA had decided to scrap the tender after the Supreme Court had raised concerns over Monday, the CJI had wondered how L&T, which was chosen by the central government for the construction of the Central Vista project in the Capital, had failed to pass muster for the Mumbai projects. It had then asked the Authority whether a re-tender could be issued for the project. "This is thousands of crores of public money. Please take we will stay this order (of Bombay High Court)," the top court had two mega infrastructure projects undertaken by MMRDA will link Thane and Mira-Bhayandar through five-km twin tunnels of 14.6 metres diameter from Gaimukh to Fountain Hotel junction at Shilphata. This project is worth Rs 8000 elevated creek road bridge of 9.8 km worth Rs 6,000 crore will connect Bhayandar to Ghodbunder Road in Thane. The proposed bridge would be the second-longest in the MMR, after the Mumbai Trans Harbour Link, also known as Atal Setu.L&T, in its appeal, said it had not been informed about the status of its bids and it came to know about its disqualification only during the hearing of the petition on May 13. The company was one of the bidders for the project and had submitted its technical bid in December."The decision to open financial bids in the absence of the petitioner without intimating them of the outcome of the evaluation of its technical bid is discriminatory and arbitrary and in violation of the principles of natural justice," the appeal to the company, the MMRDA ought to have taken a 'fair' approach. The HC order 'fails to set aside the unlawful and arbitrary tender coming to a categorical finding that the tender conditions were prima facie in breach of the guidelines issued by the Public Works Department , Maharashtra, as well as the Central Vigilance Commission," L&T said in its appeal filed through counsel Raunak HC order 'fails to set aside the unlawful and arbitrary tender coming to a categorical finding that the tender conditions were prima facie in breach of the guidelines issued by the Public Works Department, Maharashtra, as well as the Central Vigilance Commission," Dhillon said.
Indian Express
30-05-2025
- Business
- Indian Express
After SC nudge, MMRDA scraps tender process for Thane-Bhayandar mega infra projects worth Rs 14,000 crore
The Mumbai Metropolitan Region Development Authority (MMRDA) has informed the Supreme Court that it has scrapped the two tenders issued for the Thane-Ghodbunder to Bhayandar tunnel and elevated road projects worth over Rs 14,000 crore in 'public interest'. 'We have decided to scrap the two tenders. The government will decide what they want to do,' Senior Advocate Mukul Rohatgi, appearing for MMRDA, told a bench of Chief Justice of India B R Gavai and Justices A G Masih and A S Chandurkar. Taking MMRDA's statement on record, the Supreme Court bench disposed of as 'infructuous' the pleas by Larsen & Toubro (L&T) Limited that challenged the Bombay High Court order of May 20. The high court's vacation bench had refused relief to L&T in its pleas challenging the opening of financial bids for the two projects. 'Solicitor General Tushar Mehta and Senior Advocate Mukul Rohatgi appearing for MMRDA fairly state that the state (MMRDA) has decided to scrap the entire tender process in the larger pubic interest and take such steps as are advised. In that view of the matter, petition is rendered infructuous and disposed of as infructuous,' the bench said in its order. L&T had claimed that it had not received any intimation about the status of the bids, while other bidders had received the same. It had argued that MMRDA had initiated the opening of the financial bids by excluding L&T from the process. Senior advocates Kapil Sibal, Abhishek Singhvi, Ranjit Kumar, Neeraj Kishan Kaul, and advocates Raunak Dhillon, Madhavi Khanna, and Nihaad Dewan appeared for L&T. The two projects are proposed to link Thane and Mira-Bhayandar. One of the projects consists of a 5-km twin tunnel of 14.6-metre diameter from Gaimukh to Fountain Hotel Junction at Shilphata, worth Rs 8,000 crore. The other project, an elevated creek road bridge of 9.8 km, estimated to cost nearly Rs 6,000 crore, will connect Bhayandar with Ghodbunder Road in Thane. The two projects are part of an extension of the Mumbai Coastal Road project and the elevated bridge is likely to be the second largest after the Mumbai Trans Harbour Link (MTHL) bridge, also called Atal Setu. MMRDA's decision to scrap the present tender process came after the apex court on May 26 and 29 asked the authority whether it was willing to carry out re-tendering process for the two major projects and had warned that failure to do so may lead to the court staying the present tenders. The Supreme Court had said that it was difficult to comprehend that the technical bids of L&T, the company which was selected to execute the Central Vista Project in Delhi, had been rejected for the projects linking Thane and Bhayandar. L&T had told the top court that MMRDA had arbitrarily declared Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) as L1 (lowest) bidder for both the projects, despite its bid being at a substantially higher cost compared to that of L&T. The firm had argued that its price bid was nearly Rs 2,521 crore less than that of MEIL in the tunnel project, and Rs 609 crore less for the elevated road project. However, MMRDA, argued that there were 'substantial reasons' for rejecting the bid and that it was not on 'flimsy' or 'fanciful' grounds. On Friday, as Rohatgi informed the apex court that MMRDA was scrapping the present tenders, CJI Gavai said, 'Otherwise, if we go into the merits, we will have to consider the validity of that clause and everything.' Rohatgi said, 'I conveyed to the government. I had a discussion with the government.' The CJI said, 'We are basically concerned with the larger public interest. The difference is Rs 3,200 crore… We live in an era of transparency.' Though the petitioners also urged the bench to set aside the high court judgment, the CJI said it is not necessary. CJI Gavai told the petitioner's counsel, 'You should appreciate the fairness of Rohatgi and the Solicitor. At least at times.'
