Latest news with #PMAY-Urban
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Business Standard
16-07-2025
- Business
- Business Standard
Why is Axis Securities bullish on Greenply Ind, Cera? Shares rally up to 7%
Axis Securities on Greenply Industries, Cera Sanitaryware: Shares of building materials companies Greenply Industries and Cera Sanitaryware were in focus on Wednesday, July 16, 2025, after domestic brokerage firm Axis Securities initiated coverage on both with a 'Buy' rating. The stocks rallied up to 7 per cent in intraday trade on the BSE following the development. Greenply Industries shares jumped as much as 5.49 per cent to an intraday high of ₹320.95 apiece, while Cera Sanitaryware share price gained 6.74 per cent to hit an intraday high ₹6,945.75 per share. Axis Securities has set target prices of ₹385 and ₹8,500 on Greenply Industries and Cera Sanitaryware respectively, implying a potential upside of 26 per cent and 31 per cent from current market levels. Axis Securities expects India's building materials sector to benefit from a revival in real estate demand beginning FY26, which typically follows a 1.5-2-year lag from the start of a real estate upcycle. 'The Building Products sector in India is poised for a strong demand revival from FY26, aligning with the typical 1.5-2-year lag following a real estate upcycle,' the brokerage said. It noted that while FY25 saw softness due to election-related liquidity issues, ongoing government initiatives like PMAY, Jal Jeevan Mission, and Smart Cities are already boosting demand across categories. 'For example, the ₹27,500 Cr allocation to PMAY-Urban in CY21–22 led to an average revenue growth of 57 per cent for companies like Cera, Kajaria, and Astral by CY23,' it added. Rising incomes, urbanisation driving upgrades India's improving income dynamics are another key growth lever, Axis Securities pointed out. 'India's rising per capita income, up about 14 per cent in FY24 to ₹1.96 lakh, and a shift towards a predominantly middle and upper-middle-class population… is significantly transforming home improvement spending,' the brokerage said. It highlighted that dual-income households, growing urbanisation in Tier-2 and Tier-3 cities, and higher financial stability are fuelling demand for renovations, premium fittings, and lifestyle upgrades-particularly in kitchens and bathrooms. 'Demand for branded fittings, designer sanitaryware, vitrified tiles, and luxury bathroom products has surged, with metro cities witnessing 2x Y-o-Y growth in smart sanitaryware sales,' Axis Securities said. Formalisation of the Industry The brokerage also sees tailwinds from the rapid formalisation of India's building materials industry, driven by GST, RERA, and new BIS quality control norms. 'Organised players are steadily gaining market share… the organised segment-growing at about 9 per cent annually – is positioned to dominate,' it said, citing rising consumer preference for branded and quality-certified products. Changing home preferences Post-Covid Axis Securities noted a post-Covid shift toward home-centric lifestyles and wellness-oriented upgrades such as home gyms, smart furniture, and spa-inspired bathrooms. 'With property prices rising, many homeowners are choosing to upgrade their current homes rather than relocate, fueling personalised renovations featuring unique layouts and culturally nuanced decor. From smart TVs and ACs to intelligent sanitaryware, Indian homes are increasingly integrating style, functionality, and technology,' the brokerage said. Greenply: MDF growth, hardware foray For Greenply Industries, Axis Securities expects a Revenue/Ebitda/PAT CAGR of 12 per cent/20 per cent/40 per cent over FY24-27. 'Greenply Industries is well-positioned to capitalise on structural shifts and regulatory reforms in the Indian wood panel and interior solutions market,' it said. It added that Greenply's MDF plant in Vadodara, which became operational in May 2023, achieved 75 per cent utilisation in FY25 and is targeting 85-90 per cent by FY26. The company is also expanding into furniture hardware via a ₹100 crore JV with Samet, aiming for ₹125-150 crore in revenue by FY27. 'The mandatory implementation of BIS norms is accelerating formalisation in the ₹20,000 crore plywood industry… enabling branded, compliant manufacturers like Greenply to consolidate market share,' the note said. Cera: Premiumisation play For Cera Sanitaryware, Axis forecasts a Revenue/Ebitda/PAT CAGR of 10 per cent/9 per cent/9 per cent from FY24-27. 'Cera is leveraging premiumisation trends in India's bathware segment as bathrooms increasingly transform into lifestyle-centric spaces,' it said. The brokerage noted that while near-term retail demand remains subdued, a recovery is likely by Q2FY26. The relaunch of its Senator brand and expansion of its Luxe line are expected to drive revenue growth. Cera is also focused on real estate projects (38 per cent of revenue) and Tier 2/3 markets. 'Targeting ₹2,700 crore in revenue by FY27, the company is investing in innovation, high-margin segments, and capacity expansion to maintain its growth trajectory,' Axis Securities said.
Hindustan Times
21-06-2025
- Business
- Hindustan Times
Good news for Thane homebuyers: MHADA cuts prices of 6,200+ PMAY flats for EWS under first-come, first-served scheme
The Maharashtra Housing and Area Development Authority (MHADA)'s Konkan Board has revised the prices of 6,248 affordable homes in Shirgaon and Khoni, Thane, under the PMAY-Urban scheme for the Economically Weaker Section (EWS). These homes are available on a First-Come, First-Served basis. The Maharashtra Housing and Area Development Authority (MHADA)'s Konkan Board has revised the prices of 6,248 affordable homes in Shirgaon and Khoni, Thane, under the PMAY-Urban scheme for the Economically Weaker Section (EWS). (Picture for representational purposes only)(MHADA) MHADA said Vice President and CEO Sanjeev Jaiswal (IAS) has approved the revised pricing for 5,236 homes in Shirgaon, increasing each unit's price by ₹ 1.43 lakh to ₹ 19.28 lakh. In Khoni, the price of 1,012 affordable homes has been reduced by ₹ 1.01 lakh per house, and the revised sale price for each of these units is ₹ 19.11 lakh. "Citizens who are looking to buy their own house are encouraged to take advantage of this opportunity," said Revati Gaikar, Chief Officer, Konkan Housing and Area Development Board. According to MHADA, there is no deadline for purchasing homes under the First Come, First Served category; sales will continue until all units are sold. Also Read: MHADA lottery 2024: Why has the authority turned to street plays to boost affordable housing sales near Mumbai? Income slab criteria Under the EWS category, individuals with a family income of up to ₹ 6 lakh per annum are eligible to apply. Those earning between ₹ 6 lakh and ₹ 9 lakh can apply under the Lower Income Group (LIG) category. Applicants with a family income between ₹ 9 lakh and ₹ 12 lakh fall under the Middle Income Group (MIG) category, while those earning above ₹ 12 lakh per annum are eligible under the High Income Group (HIG) category. Also Read: MHADA to construct 8 lakh affordable homes in the next five years: Maharashtra Deputy Chief Minister Eknath Shinde MHADA lottery 2025: 5,000 affordable homes expected to be put on sale in Mumbai this Diwali The MHADA is expected to announce the draw for approximately 5,000 affordable homes around Diwali 2025. Sanjeev Jaiswal, vice president and chief executive officer of MHADA, told reporters in April 2025, "The MHADA is planning to announce a lottery draw of about 5,000 homes this September-October. " Jaiswal said, "The affordable homes will be announced in different locations of Mumbai, and the details are being finalised. " Also Read: MHADA lottery 2025: 5,000 affordable homes set to go on sale in Mumbai this Diwali, says Maharashtra housing authority According to MHADA officials, around 5,200 affordable homes are likely to be part of the draw, which will be announced in the coming months. In 2024, more than 2000 affordable homes in the price range of ₹ 29 lakh to ₹ 6.82 crore were up for sale.
Time of India
14-06-2025
- Politics
- Time of India
Meeting resolves to expedite devpt projects in Madhubani
Madhubani: Fast-tracking development works and resolving public grievances were key outcomes of a district-level coordination and monitoring (DISHA) committee meeting held at the DRDA auditorium in Madhubani on Saturday. Chaired by MP Ramprit Mandal, the meeting brought together legislators, officials and public representatives to address key issues affecting the district. MP Mandal stressed the importance of collective effort. "The cooperation of all stakeholders is crucial for resolving district-level issues and accelerating development works," he said while urging attendees to work jointly for rapid progress. District magistrate Anand Sharma assured prompt action on concerns raised during the meeting. He announced that departmental teams would be formed to investigate complaints related to road conditions, black marketing of fertilisers and problems in water supply and health services. In the review of departmental performance, it was revealed that under the PMAY-Urban scheme, 4,139 houses were sanctioned between 2015-16 and 2018-19. Of these, 3,535 beneficiaries received the first instalment with disbursement continuing for subsequent phases. Also, 76 panchayat govt buildings have been constructed and land has been identified for more. Waste processing units have been completed in 319 out of 386 panchayats while plastic waste management facilities are operational or being set up in various blocks. Out of 1,09,996 identified beneficiaries, 85,265 have received incentive payments. The committee also discussed welfare and infrastructure schemes, including road repairs under PMGSY, agriculture and horticulture projects, drinking water supply through the Nal-Jal Yojana, MGNREGA, health services, food security and child development programmes. Officials assured that damaged roads would be made motorable before the monsoon. "All concerns have been noted, and necessary actions will be taken without delay," the DM said. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Time of India
25-05-2025
- Business
- Time of India
Prayagraj administration cracks down on 2,000 PMAY defaulters
PRAYAGRAJ : The Prayagraj district administration has launched recovery proceedings against over 2,000 beneficiaries of the Pradhan Mantri Awas Yojana ( PMAY ) who received funds but failed to construct their houses. After sending notices, the administration is now preparing to issue Recovery Certificates (RCs) from the respective tehsils to reclaim the misused public funds. A total of 1,507 rural beneficiaries under PMAY-Gramin and 504 urban beneficiaries under PMAY-Urban did not complete their homes despite receiving government assistance. Notably, nearly 470 individuals in the urban sector received financial aid almost six years ago but have yet to build their houses, despite receiving all instalments. Of these, more than 400 beneficiaries did not even lay the foundation for their houses. Another 100 managed to build only partial structures such as incomplete walls. Urban areas such as Jhalwa, Dhoomanganj, Salori, Baghara, Rajapur, Kareli and Rajrooppur have the highest concentration of defaulters. Similarly, beneficiaries from towns like Sirsa, Bharatganj, Koraon, Shankargarh, Handia, Phulpur, Mauaima and Lal Gopalganj also failed to utilise the sanctioned funds appropriately. The issue is particularly widespread in rural areas, where approximately 1,450 beneficiaries across tehsils such as Koraon, Meja, Karchhana, Bara, Phulpur, and Handia failed to initiate construction despite receiving all installments of government aid. In most cases, the homes did not progress beyond the foundation stage, with some plots not even undergoing excavation. To address this issue, the District Urban Development Agency (DUDA) is preparing to send a formal report to the concerned tehsils for the issuance of Recovery Certificates (RCs) against urban defaulters. DUDA is also working on similar documentation for rural areas to take further action. Chief development officer Harshika Singh emphasised that beneficiaries who receive financial aid under the PMAY must ensure the funds are used strictly for home construction. Those who ignored three notices and failed to show progress in construction will now face strict recovery action. This crackdown is part of a broader move to enforce accountability and ensure that govt schemes reach genuine beneficiaries who intend to utilise the support for their intended purpose, say officials of the district administration.
Time of India
24-05-2025
- Business
- Time of India
Prayagraj admin cracks down on 2,000 PMAY defaulters
Prayagraj: The Prayagraj district administration has launched recovery proceedings against over 2,000 beneficiaries of the Pradhan Mantri Awas Yojana (PMAY) who received funds but failed to construct their houses. After sending notices, the administration is now preparing to issue Recovery Certificates (RCs) from the respective tehsils to reclaim the misused public funds. A total of 1,507 rural beneficiaries under PMAY-Gramin and 504 urban beneficiaries under PMAY-Urban did not complete their homes despite receiving government assistance. Notably, nearly 470 individuals in the urban sector received financial aid almost six years ago but have yet to build their houses, despite receiving all instalments. Of these, more than 400 beneficiaries did not even lay the foundation for their houses. Another 100 managed to build only partial structures such as incomplete walls. Urban areas such as Jhalwa, Dhoomanganj, Salori, Baghara, Rajapur, Kareli and Rajrooppur have the highest concentration of defaulters. Similarly, beneficiaries from towns like Sirsa, Bharatganj, Koraon, Shankargarh, Handia, Phulpur, Mauaima and Lal Gopalganj also failed to utilise the sanctioned funds appropriately. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Resort com tudo incluído na Bahia Palladium Hotel Group Undo The issue is particularly widespread in rural areas, where approximately 1,450 beneficiaries across tehsils such as Koraon, Meja, Karchhana, Bara, Phulpur, and Handia failed to initiate construction despite receiving all installments of government aid. In most cases, the homes did not progress beyond the foundation stage, with some plots not even undergoing excavation. To address this issue, the District Urban Development Agency (DUDA) is preparing to send a formal report to the concerned tehsils for the issuance of Recovery Certificates (RCs) against urban defaulters. DUDA is also working on similar documentation for rural areas to take further action. Chief development officer Harshika Singh emphasised that beneficiaries who receive financial aid under the PMAY must ensure the funds are used strictly for home construction. Those who ignored three notices and failed to show progress in construction will now face strict recovery action. This crackdown is part of a broader move to enforce accountability and ensure that govt schemes reach genuine beneficiaries who intend to utilise the support for their intended purpose, say officials of the district administration.
