Category: Roads

Despite the near-term headwinds such as the upcoming general elections that can slow the contract awarding activity, analysts at IDBI Capital remain bullish on the road ahead for the road construction sector. The fact that construction companies are fully dependent on government for orders makes it an important event for companies in the road construction […]

Litigation funding, or monetisation of pending claims through a third party, is finding its feet in India. A common practice globally, the Indian version of the funding comes with a catch. As Indian infrastructure companies struggle with stressed assets and huge pending claims, there is the case of Patel Engineering, which has been successful in […]

The Bharatmala Pariyojana progamme is set to raise the dependence of National Highways Authority of India (NHAI) on market borrowings. Overall market borrowings for the Bharatmala Project are estimated at Rs 2.09 trillion till 2021-22. The total capital base comprising cess fund, toll collections and TOT (toll-operate-transfer) proceeds are pegged at Rs 3.77 trillion. “At […]

GMR Infrastructure Limited has said it suffered Rs 561.04 crore loss for the quarter ended December 31, 2018 against Rs 578.40 crore loss for the same quarter in FY18. According to a regulatory notice filed Thursday night, the infra major said the total income during the quarter under discussion stood at Rs 2,119.87 crore down […]

A Parliamentary panel Wednesday suggested setting up a commission of enquiry into the IL&FS fiasco, including probing the role of the credit rating agencies (CRAs). Debt crisis in infrastructure lender IL&FS came to light following a series of defaults by its group companies beginning September 2018. IL&FS is sitting on a debt pile of about […]

The newly-formed Congress government in Chhattisgarh had stopped the execution of 8,493 infrastructure development projects that were approved by the previous Bharatiya Janata Party (BJP) government. “In all, 203 projects would continue while the state government had stopped further construction of 8,493 projects (that were approved by the previous BJP government),” Chief Minister Bhupesh Baghel […]

An arm of Institute of Chartered Accountants of India (ICAI) will be reopening the books of the financially crippled infra lender IL&FS. The Mumbai bench of the National Company Law Tribunal (NCLT) had on January 1 directed the reopening of the books and recasting of the financial statements of IL&FS, IL&FS Financial Services, IL&FS Transportation […]

The National Company Law Appellate Tribunal (NCLAT) on Monday allowed 22 companies placed under the “green” category by the new board of Infrastructure Leasing & Financial Services (IL&FS) and the government to start servicing routine debt obligations, according to schedule. These debt obligations will be done within the resolution framework under the supervision of retired […]

Anil Ambani-led Reliance Group Friday accused L&T Finance and Edelweiss entities of “illegal” and “motivated” actions in invoking the pledged shares and selling them in open market causing a steep fall in its share value.

When a top private equity firm placed its bid for the National Highway Authority of India’s (NHAI’s) toll-operate-transfer first round, its team had already spent months surveying traffic volumes on those stretches. This is not an exception, but a norm, where most road companies do not rely on the NHAI traffic estimates, but build their […]

Road Transport Minister Nitin Gadkari said on Thursday that 65,000 km of highways will be constructed across the country at a cost of over Rs 5.35 lakh crore by 2022.

Union Minister Nitin Gadkari Friday will lay the foundation stone for five national highway projects worth Rs 7,195 crore in Ayodhya, that includes sections of Ram Vangaman Marg and Kosi Parikrama Marg, the government said.