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NBCC, Suraksha Realty asked to submit fresh bids to acquire Jaypee Infratech

In the first round of insolvency proceedings, the Rs 7,350 crore bid of Lakshdeep, part of Suraksha Group, was rejected by lenders. Lenders of Jaypee Infratech will now meet on November 18 to discuss the bids of NBCC and Suraksha Realty, which are expected expected to be submitted by the end of this week.

Jaypee Infratech insolvency: Lenders to meet on November 18 to comply with Supreme Court direction

Crisis-hit Jaypee group firm Jaypee Infratech went into insolvency in 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium seeking resolution of the firm.

Govt's Rs 25,000cr realty booster inadequate to revive stalled projects: ICRA

The government on Wednesday approved a Rs 25,000-crore fund to help complete over 1,500 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings, as it looks to boost growth by steering consumption in real estate and associated sectors. The move is likely to help 4.58 lakh housing units across the country.

Govt's Rs 25,000 crore realty fund can only help 6% of stalled constructions

Govt’s Rs 25k cr realty fund to salvage stalled housing projects will only help 6% of stalled constructions.

Adani pares AP investments from Rs 70,000 crore to Rs 3,000 crore

This comes weeks after the new government in Andhra decided to reclaim around 4,700 acres of land allotted to Navayuga Group’s Krishnapatnam Infratech near Nellore after cancelling contracts of Polavaram irrigation and Machilipatnam port awarded to Navayuga by the previous regime of Chandrababu Naidu.

Revenue growth of road developers in EPC segment may be halved in FY'20, FY'21: Crisil

"Road developers...could see revenue growth halve in fiscals 2020 and 2021 to 15 per cent, compared with 30 per cent in fiscal 2019," Crisil said. The NHAI awarded a whopping 7,400 km in fiscal 2018, which slowed down the following year to about 2,200 km. In the current fiscal and the next, awarding is expected to be 4,000 km a year, it said.

SC sets aside green nods for Tata Housing Project in Chandigarh

The Supreme Court set aside all environmental clearances given to a Tata Housing Development project near Chandigarh’s Sukhna lake. The court cited ecological disasters due to rapid urbanisation and the impact of that, such as in causing the floods of Uttarakhand in 2013 and Kerala in 2018, to set aside the clearances for the Camelot apartment project.

Adani seeks more time to buy stake in Mumbai Airport

The GVK Group raised over Rs 7,600 crore to reduce debt and acquire a 23.5% stake in MIAL.

Yamuna Expressway authority directed to refund Rs 41.14 crore to Jaypee Infratech

As per the judgement, the authority had demanded Rs 2,591.78 crore in January 2015 and another Rs 247 crore in May 2017 from Jaypee Infratech as 'no litigation incentive' or additional compensation to be paid to the farmers whose land was acquired by the authority and then allotted to the developer for constructing Yamuna Expressway projects and other purposes.

KEC International wins orders worth Rs 1,807 crore from rail, power T&D

The orders include railway jobs worth business Rs 1,303 crore for overhead electrification of railway lines and associated civil works, construction of road over bridges, roadbeds, major and minor bridges. Its arm SAE Towers have also bagged orders worth Rs 283 crore for power transmission and distribution projects in India, East Asia Pacific and the Americas.

Adani joins Digital Realty to build data centers in India

Adani joins Digital Realty to build data centers in India

Digital Reality supports the data center, colocation and interconnection strategies of more than 2,000 firms across its secure, network-rich portfolio of data centers located in North America, Europe, Latin America, Asia and Australia.

Private construction work in full swing in Kashmir

Private construction work in full swing in Kashmir

Besides the hike in wages of daily-rated labourers, there has been 15 to 25 per cent increase in the costs of bricks, sand, stone and cement.

Punj Lloyd wins Rs 54-crore arbitration in case vs ONGC

Punj Lloyd wins Rs 54-crore arbitration in case vs ONGC

Arbitrators consented to Punj Lloyd’s plea, seeking compensation for expenses incurred in laying a pipeline at Hazira for ONGC. They also accepted ONGC’s counter claims and asked Punj Lloyd to pay Rs 6 cr for an unutilised advance payment.

DLF settles Rs 8,700 crore amount payable to JV with GIC

DLF settles Rs 8,700 crore amount payable to JV with GIC

This deal included sale of 33.34 per cent stake in the DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by DCCDL.

Prestige Group inks JV with DB Realty to develop hospitality-led project in Delhi

Prestige Group inks JV with DB Realty to develop hospitality-led project in Delhi

The 50:50 joint venture will develop total 2 million sq ft project with total 932 hotel rooms, 6.45 lakh sq ft office space apart from a 2 lakh sq ft convention centre.

Adani gets more time to buy Bidvest’s stake in MIAL

Adani gets more time to buy Bidvest’s stake in MIAL

Adani had moved the high court last month seeking execution of its agreement with Bid Services Division Mauritius (Bidvest) for sale of its stake in the airport.

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