Construction

In a major push toward sustainable urban development, the GRIHA Council has announced a new incentive framework designed to promote green building practices across India. The initiative aims to encourage developers, architects, and government bodies to adopt eco-friendly designs, materials, and construction methods that minimize carbon footprints and resource consumption.

Puravankara Ltd’s construction subsidiary, Purva Asset Management and Construction Pvt. Ltd, has been awarded a Rs. 211 crore contract by SBR Builders Pvt. Ltd. The deal strengthens Puravankara’s growing presence in the real estate development and construction services segment. The contract, focused on large-scale residential development, marks another strategic milestone in the company’s efforts to diversify its revenue base beyond real estate sales.

State-owned construction and project management major NBCC (India) Ltd. has signed an agreement with the Nagpur Metropolitan Region Development Authority (NMRDA) to spearhead the development of the ambitious Naveen Nagpur project. The collaboration is designed to transform the region into a modern urban hub with advanced infrastructure, residential clusters, commercial zones, and sustainable amenities.

Nuvoco Vistas Corporation, one of India’s leading building materials manufacturers, has unveiled a Rs. 200 crore investment plan aimed at expanding its production capacity across key facilities. The move reflects the company’s strategy to strengthen its market position amid rising demand in the cement and construction materials sector. By enhancing efficiency and scaling up output, Nuvoco seeks to capture growth opportunities in India’s infrastructure push and urban development boom.

India is on track to emerge as the world’s second-largest economy by 2038, driven by robust GDP growth, demographic advantages, and structural reforms aimed at enhancing productivity and investment. According to a recent report, sustained economic expansion, rising consumption, digital adoption, and infrastructure development are expected to elevate India’s global economic standing. The report also highlights challenges such as income inequality, inflationary pressures, and climate risks that must be managed carefully to sustain growth.

Markolines, a prominent infrastructure and construction firm, has won a Rs. 100 crore road development contract in Andhra Pradesh, marking a significant milestone in the company’s regional expansion strategy. The project involves the construction and maintenance of key highways aimed at improving connectivity and supporting economic growth in the state.

India’s economy surged 7.8% in the first quarter of FY24, reaffirming its status as the world’s fastest-growing major economy amid a challenging global landscape. The robust growth was supported by strong private consumption, resilient services activity, and an uptick in government capital expenditure. While manufacturing output moderated slightly, steady expansion in construction, finance, trade, and public administration contributed to overall momentum.

India’s road safety record continues to raise alarm as official data reveals that potholes and wrong-side driving accounted for more than 11,500 deaths in 2023. Of these, pothole-related accidents claimed 2,161 lives, while violations linked to wrong-side driving resulted in 9,432 fatalities. The figures highlight the dual challenges of deteriorating infrastructure and risky driving behavior, both of which undermine national road safety goals.

The Competition Commission of India (CCI) has granted approval to the Adani Group for its proposed acquisition of select assets of Jaiprakash Associates, marking another milestone in the conglomerate’s aggressive expansion strategy. The deal, which underscores the Adani Group’s growing interest in infrastructure and construction-linked businesses, has been closely watched by the market.

State-owned construction major NBCC (India) Ltd has posted a 26% year-on-year increase in consolidated net profit for the first quarter, reaching Rs. 135 crore, driven by robust execution of ongoing projects and improved operational efficiencies. Revenue for the quarter also registered healthy growth, reflecting strong demand in both government and private sector assignments. The company’s performance highlights its ability to capitalize on a steady pipeline of infrastructure and real estate projects, while maintaining fiscal discipline.