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EquityPandit
INFRASTRUCTURE

Govt Plans to Construct 60,000 Km of National Highway by 2024: Gadkari

The Road Transport and Highways Ministry Nitin Gadkari on Friday said that his aim is to construct 60,000 kilometres of the world-class national highway by 2024, at the rate of 40 kilometre per day.

Speaking at the 16th annual conference on ‘Road Development in India’ Gadkari said, “My aim is to construct 60,000 km of the world-class national highway by 2024, at the rate of 40 km per day.”

“India is about 63 lakh kilometre of the road network, which is the second-largest in the world. Road infrastructure plays a critical role in the growth of the Indian economy,” he added.

Gadkari said, “The government is investing 1.4 trillion dollars ( Rs 111 lakh crores) in infrastructure development through National Infrastructure Pipeline (NIP). The government has increased year-on-year infrastructure Capex by 34 per cent to Rs 5.54 lakh crore this year.”

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INFRASTRUCTURE

Asian Paints to Launch Water-Based Paint Manufacturing Facility in MP

Neha Verma

Asian Paint’s Board of Directors has approved an investment of Rs 2,000 crore (approximately) for a new waterborne paint manufacturing plant with a capacity of 400,000 kiloliters per annum.

After the land acquisition, the facility’s manufacturing is expected to be commissioned in three years. The company is exploring the possibility of making this investment and setting up a manufacturing facility in Madhya Pradesh. The company will produce paints and intermediates in the proposed manufacturing plant in an environmentally friendly manner using the latest manufacturing technologies.

The company sells and distributes paints, manufacturing, products, and coating related to home decor, providing related services and bath fittings.

On a consolidated basis, the net profit hit a high 31.3% to Rs 782.71 crore on 18.8% and increase in net sales to Rs 8,430.60 crore in the July-September quarter of FY23 over the July-September quarter of FY22.

On BSE, the company’s stakes were down 0.09% to Rs 2976.50.

INFRASTRUCTURE

Godrej Properties Gains on Acquiring Land in Kurukshetra

Neha Verma

Shares of Godrej Properties rose 1.44% to Rs 1,189.80 after announcing that it is expanding its residential portfolio in the National Capital Region (NCR) with the purchase of a 62-acre land in Kurukshetra, Haryana.

The Mumbai-based real estate developer has acquired approximately 62 acres of land in Kurukshetra, Haryana. This project will offer about 1.4 million square feet of plotted residential development, offering attractive plot sizes and exceptional lifestyle amenities.

The site is strategically located with access to National Highway 44. Kurukshetra is a self-sufficient city with good infrastructure, including schools, colleges and hospitals and is of great historical and religious significance.

On December 24, 2022, the company entered into a joint venture with Neelkamal Realtors Tower (NRTPL) to develop a property situated at Cadastral Survey No. 1906 of Byculla Division, E-Ward, in Mumbai.

Godrej Residency (GRPL) will hold 50.01%, and NRTPL will maintain a balance of 49.99%. On December 28, the project is expected to complete the sale.

To engage in development, real estate construction and other related activities. In FY22, this company was the largest developer in India by the value and volume of residential sales achieved.

On a consolidated basis, the net profit hit a high of 53.8% to Rs 54.96 crore on a 27.7% jump in net sales to Rs 165.09 crore on September 22 over September 21.

INFRASTRUCTURE

Fintech Industry CAGR At 20% With 23 Unicorns

Neha Verma

Fintech India has a growing industry to grab a sizable chunk in the global fintech sector, states’ States of Fintech Union 2022′ reported by the Boston Consulting Group. As per the company’s new record, CAGR grew by 20 per cent, which is more than US-16 per cent, UK-15 per cent and China-10 per cent.

“Clocking over $800 billion annual payments transaction value, Fintechs have made a strong contribution to the Indian economy and play a powerful role in providing full-fledged financial services to all Indians. We see this collective segment as mission critical for the $5 trillion Indian economy,” the report stated.

India’s global fintech annual growth rate is 20 per cent, whereas India’s share in global fintech funding is 14 per cent. Hence, the digital investment grew in 2021 from 4.5 million to 9 million in 2022 by registering a growth of 100 per cent. The neo banking volume, at the same time, rose from 2.5 million to 4 million, reporting a 60 per cent growth in just one year, reports media. India produced more than 23 unicorns in this sector against 172 in the US, 30 in the UK and 36 in China.

“Covid further boosted payments space, leading to 210 per cent spike in funding between 2020 and 2021,” it said.

The growth is so phenomenal that these firms are phasing out traditional players off their perch. For instance, fintech firms now occupy a 36 per cent share in new-to-credit customers against 22 per cent by banks. Also, UPI transactions are made for the payment of shares which is 93 per cent against 7 per cent by banks, and the market share in active broking clients is 80 per cent against 20 per cent share by traditional broking firms.

The fintech firms will need to re-evaluate their financials and enable cost controls as needed to be able to continue innovative investments and scale.

INFRASTRUCTURE

Tata Projects to Construct Noida International Airport at Jewar

Neha Verma

Tata Project has to aim to construct infrastructure as Tata Group with the upcoming Contracts of Noida International Airport at Jewar in Uttar Pradesh (UP).

During this contract, Tata Project will also construct the terminal with a runway, airside infrastructure, roads, utilities, landside facilities and other ancillary buildings at the airport. Yamuna International Airport Private Limited (YIAPL) said in the statement.

YIAPL is a wholly-owned subsidiary of Swiss developer Zurich Airport International AG and has been incorporated as a Special Purpose Vehicle to develop Noida International Airport. In 2019, Zurich Airport International AG won the bid to develop the airport. The Uttar Pradesh government signed the concession agreement with YIAPL on October 7, 2020, to commence the development of the NIA.

The greenfield facility, spread over 1,334 hectares, will have a single-runway operation in the first phase with a capacity to handle 12-million passengers per annum at an investment of Rs 5,700 crore.

“YIAPL has selected Tata Projects Ltd to undertake the Engineering, procurement, and construction (EPC)of Noida International Airport. The statement said that the company had been selected from three shortlisted teams with demonstrated experience in the design, procurement, and construction of large infrastructure projects,” the statement said.

By 2024, the new airport has expected to be functional as per the developer.

BUSINESSINFRASTRUCTURE

Zoom Sets Up 2nd Technology Centre in Chennai

Nilesh

Zoom Video Communications India announced setting up a second technology centre in Chennai. The technology centre is part of Zoom’s expansion plans in India and will supplement the existing technology centres in Bangalore, Mumbai and Hyderabad. The company also plans to speed up its hiring in India in 2022, tapping India’s excellent talent pool to continue its growth and innovation trajectory. The Chennai technology centre will focus on research and development of new products and technologies to build a communications platform that will copy real-life immersive experiences for users worldwide to shift towards a hybrid format.


“We acknowledge and value the importance of India as a crucial part of Zoom’s growth strategy. With the addition of the Chennai technology centre, we aim to compete at the forefront of technological leadership and help raise the bar in the new era of collaboration. As Zoom boosts its ecosystem for future innovations, our expanded presence in India will play a key role in helping accelerate the translation of ideas and concepts into futuristic solutions for the world. We welcome talents in India to be part of our growing DevOps, IT, security, and business operations teams as we expand our operations.”

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