Latest news with #andConstruction
Business Upturn
2 days ago
- Business
- Business Upturn
Globe Civil Projects bags Rs 172.99 crore NBCC contract for Central University of Punjab development
By Aman Shukla Published on July 19, 2025, 20:08 IST Last updated July 19, 2025, 20:08 IST Globe Civil Projects Limited has secured a significant new order from NBCC (India) Ltd. worth ₹172.99 crore. The contract involves the development of key infrastructure and buildings for the Central University of Punjab, located in Village Ghudda, Bathinda district, Punjab. The project will be executed on an Engineering, Procurement, and Construction (EPC) basis and includes the construction of a range of academic and residential facilities, such as: A 400-seater Girls' Hostel A 600-seater Boys' Hostel An Academic Block A 100-seater International Students' Hostel A Vice Chancellor's Residence And extensive external development works across the campus The project is expected to be completed in approximately 21 months. This latest win highlights Globe Civil Projects' growing reputation and execution strength in large-scale institutional and educational infrastructure projects. It also reflects the continued trust placed by leading government agencies like NBCC in the company's ability to deliver quality EPC solutions across the country. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
4 days ago
- Business
- Time of India
NHAI pauses fund raise; to focus on improving BOT model to entice investors, says MoS Harsh Malhotra, ETInfra
NEW DELHI: Alarming debt levels have led the National Highways Authority of India (NHAI) to pause fund raise and the high Advt Advt way developer is refining the Build-Operate-Transfer (BOT) Model to attract investors and lighten its balance sheet, a senior government official has said.'We have been able to cut down about ₹85,700 crore of NHAI debt and we are improvising the BOT Model so that the debt level further comes down. Additionally, we have decided not to raise further loans. The roads and highways which have already been constructed, we have plans to remonetise them,' said Harsh Malhotra, Minister for Road Transport and Highways, in an interview to ET to extensive road development undertaken by NHAI primarily through borrowings, the authority's debt had risen to about ₹3.4 lakh crore, raising concerns about implications of massive debt on its a Build-Operate-Transfer (BOT) Model, a private developer is responsible for financing, building and operating a project for a specific concession period in which developer is allowed to recover the development investments by way of user charges or tolls charged. Under such a model, the financial burden on the government is limited. However, the model fell out of favour due to land acquisitions, financial risks faced by private to lukewarm response to BOT Model, in the past several years, the government has resorted to Hybrid Annuity Model (HAM) and Engineering, Procurement, and Construction (EPC) Model of road development, in which the government partly or fully takes up the financial highlighted that the next phase of road development by the central government will be focused on developing 40,000 km of high-speed corridors which will enable vehicle speed of up to 120 km/ to the NHAI, the country has about 63 lakh km of road network, of which 1.46 lakh km are national highways on which 50 per cent of India's traffic is transported.'By 2034, development of almost 40,000 km of high-speed corridors is being aimed which can enable vehicles to run at a speed of 100 km/hr to up to 120 km/hr. The Ministry of Road Transport and Highways' vision for 2047 envisages interstate connectivity and economic corridors which connect states and industrial corridors. Highway speed along with economic growth is the vision of the government,' said per the ministry, as of February 2025, 6,669 km length of high speed greenfield corridors have been awarded with construction completed for 4,610 of the major ongoing projects is the Delhi-Mumbai Expressway, which when completed is expected to reduce the travel time between the two cities from 32 hours to about 12 hours.'The Delhi-Mumbai Expressway is being constructed at a cost of ₹12,500 crore and once completed, it will enable the travel between the cities within 12 hours and will have amenities for travelers after every 100 km,' said from high-speed corridors, the ministry is also focused on developing bypasses or ring roads around major Indian cities in order to enable smooth movement of traffic.'A quadrilateral highway connecting the cities of Chitrakoot, Ayodhya, Varanasi, and Gorakhpur is being constructed. The road will touch the cultural sites. In the future, for all major cities such as Indore, Guwahati and others, bypasses or ring roads are being planned,' said who is a member of Parliament from Delhi, outlined that in order to smoothen the traffic to and from Delhi International Airport, the ministry has proposed the development of a 7-km long underground tunnel.'We have proposed constructing a 7 km long tunnel linking Delhi's Nelson Mandela Road with Urban Extension Road-II in order to smoothen the traffic flow to and from Delhi International Airport,' said Malhotra, adding that several road development projects are underway which will ensure traffic from neighbouring states do not enter the capital and congest the NHAI, a 76 km long Urban Extension Road-II is also being developed, which will divert heavy traffic from neighbouring states away from the national capital. By , ETInfra
The Hindu
09-07-2025
- Politics
- The Hindu
A.P. govt. urged to scrap the EPC model in irrigation contracts
VIJAYAWADA: Irrigation expert and policy analyst and Andhra Pradesh Samagra Adhyayana Vedika convener T. Lakshminarayana has urged the Andhra Pradesh government to abolish the Engineering, Procurement, and Construction (EPC) contract system, calling it a deeply flawed mechanism that enables large-scale misappropriation of public funds under the pretext of irrigation development. it is a 'systematic route for institutionalised corruption' that is looting public wealth in the name of irrigation development, he said. In a press release on Wednesday (July 9, 2025), Mr. Lakshminarayana said the EPC model has its origins in the regime of former Chief Minister Y.S. Rajasekhara Reddy. The method was introduced under the justification that government engineering departments lacked the capacity to handle large-scale irrigation projects under the Jalayagnam initiative. However, over the time, the model had evolved into a tool that sidelined the State engineering departments and handed full control of design, material procurement, and construction to large contractors, allowing them to operate unchecked. 'EPC weakens role of dept. engineers' The EPC system weakened the role of the Irrigation Department's engineers and enabled a cartel of contractors to dominate public works. 'Many of these contractors started small and now control projects worth tens of thousands of crores. Some even made it into Parliament and state legislatures by pumping hundreds of crores into elections. Everyone knows it,' he stated. The EPC model, far from benefiting farmers, has only served to enrich big contractors and their political patrons. 'Projects have turned into money plants for ruling elites, while canals remain dry and farmers wait endlessly,' he said, pointing out that many mega projects have been stuck for decades despite ballooning budgets. He cited the Telugu Ganga, Handri-Neeva, Galeru-Nagari, Veligonda, and Vamsadhara Phase I & II among others as examples of this disastrous trend. Mr. Lakshminarayana cautioned that the proposed Polavaram–Banakacherla Lift Irrigation Scheme — designed under the same EPC framework— is deeply flawed and riddled with irregularities. 'Now we hear that the government is planning a hybrid model worth ₹81,900 crore involving State, central, and financial institution funding, with the contractor also investing. This raises even more red flags,' he said. Rumours of introducing PPP (Public-Private-People Partnership) in the irrigation sector are also doing the rounds, he added, calling it another layer of privatisation and potential exploitation.
Business Standard
17-06-2025
- Business
- Business Standard
Mayasheel Ventures Limited to Launch IPO on June 20, Listing on NSE Emerge by June 27
PNN New Delhi [India], June 17: Mayasheel Ventures Limited, a prominent infrastructure development company, has announced the opening of its Initial Public Offering (IPO) on June 20, 2025. Incorporated in 2008, the company has established a strong reputation as an 'A' class government contractor, primarily engaged in the construction of roads, highways, expressways, flyovers, and bridges. Mayasheel also undertakes complex electrical and civil projects on an EPC (Engineering, Procurement, and Construction) and BOQ (Bill of Quantities) basis, delivering critical infrastructure for government departments, including NHIDCL. The IPO comprises a fresh issue of 58,05,000 equity shares at a price band of ₹44 to ₹47 per share, aggregating to ₹27,28,35,000. The IPO will open for subscription on June 20, 2025, and close on June 24, 2025. The Anchor Bidding will take place on June 19, 2025. The shares are proposed to be listed on the NSE Emerge platform with a listing date set for 27th June, 2025. The minimum lot size for the application is 3,000 shares. Of the total issue, 16,50,000 equity shares (22.13%) have been reserved for anchor investor,s and 2,91,000 shares (3.90%) are allocated for market makers. The balance issue includes 11,04,000 shares (14.81%) for Qualified Institutional Buyers (QIBs), 8,28,000 shares (11.11%) for Non-Institutional Investors (NIIs), and 19,32,000 shares (25.92%) for Retail Individual Investors (RIIs), as per SEBI guidelines. With over 17 years of operational history, the company has completed 32 civil contracts and 26 electrical projects, employing a workforce of 237 on-roll and 180 off-roll employees. Mr. Amit Garg, Chairman and Managing Director of Mayasheel Ventures Limited, stated, "This IPO marks a pivotal moment in our journey. With increased capital, we aim to strengthen our technical capabilities, expand our equipment base, and take on more complex, high-value government projects. Our focus remains on delivering quality infrastructure that drives national development." The net proceeds from the IPO will be utilised to fund capital expenditure for the purchase of equipment and machinery, meet working capital requirements, and support general corporate purposes. These investments are expected to enhance Mayasheel's execution capacity and competitiveness across its civil and electrical verticals. The Book Running Lead Manager for the company is Narnolia Financial Services Limited, and Registrar to the Issue is Maashitla Securities Private Limited.
Business Upturn
07-06-2025
- Business
- Business Upturn
PNC Infratech bags Rs 239.94 crore flyover project in Rajasthan from PWD
PNC Infratech Limited has informed exchanges that the company bagged a Letter of Acceptance (LoA) dated June 6, 2025, from the Public Works Department (PWD) of Rajasthan for a significant infrastructure development project. The project entails the construction of a flyover from Heeradas Chouraha to Kumher Gate Chouraha in Bharatpur City, Rajasthan. The contract, awarded under the Engineering, Procurement, and Construction (EPC) model, is valued at ₹239.94 crore. The project is slated for completion within a period of 24 months. Advertisement This is a purely domestic contract with no promoter or promoter group interest involved in the awarding entity. The development is expected to significantly ease traffic congestion and enhance urban mobility in Bharatpur, a key city in Rajasthan. With this win, PNC Infratech further strengthens its presence in the road and infrastructure segment, aligning with its vision of contributing to India's growing urban infrastructure. PNC Infratech Q4 results PNC Infratech reported a sharp decline in its financial performance for the fourth quarter ended March 2025. The company's net profit plunged 81% year-on-year to ₹75.50 crore, compared to ₹395.90 crore in Q4 FY24. Revenue from operations also fell significantly by 34.5%, standing at ₹1,704 crore versus ₹2,600 crore in the same period last year. EBITDA for the quarter came in at ₹362 crore, down 51% from ₹736 crore a year ago. The EBITDA margin also shrunk to 21.26%, compared to 28.32% in Q4 FY24.
