Economy & Market

SBI to raise Rs.5,000 cr for affordable housing

Published

8 years ago

November 30, 2016

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The country?s largest lender SBI will raise Rs 5,000 crore to fund infrastructure and affordable housing during the fiscal by issuing long-term infra bonds. The bank has been accorded approval from the Executive Committee of its Central Board.

?The Executive Committee of (the) Central Board at its meeting held on November 10, 2016, has accorded its approval for issuance of long-term bonds of Rs 5,000 crore for financing of infrastructure and affordable housing during 2016-17,? SBI said in a regulatory filing.

The bonds are to be issued on a private placement basis in tranches. SBI said it will raise the money at an ?appropriate time? in the domestic and overseas markets.

Concrete

Construction sector growth slows to 8-10% for FY2025: ICRA

Published

4 hours ago

January 15, 2025

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The revenue growth for construction companies in FY2025 is projected at 8-10 per cent, down from the earlier estimate of 12-15 per cent, according to ICRA. This marks the slowest growth in three years, driven by factors such as the Model Code of Conduct in Q1, prolonged monsoons, and milestone-based billing in Q2, particularly affecting road-focused players.
ICRA’s analysis of 19 companies with a combined turnover of Rs.1.28 trillion in FY2024 shows modest revenue growth of 1.5 per cent YoY in H1 FY2025. While execution is expected to improve in H2, FY2025 growth remains below the historical CAGR of ~15 per cent (FY2018-FY2024).
Order inflows in urban transport, water and sewage projects are healthy, but road-focused entities face challenges due to muted inflows and high competition. Operating margins are projected to remain range-bound at 10.5-11 per cent, with debt levels rising to manage working capital needs, though debt coverage metrics remain stable.

Concrete

SANY India expands Pune factory to boost production capacity

Published

4 hours ago

January 15, 2025

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SANY India inaugurated a cutting-edge factory expansion at its 90-acre Pune facility, elevating its production capacity to over 14,000 units annually, alongside a robust fabrication capacity of 100,000 metric tonnes.

The advanced facility reinforces SANY’s commitment to ‘Make in India’ by enhancing localised manufacturing and supporting global exports. Chairman Xiang Wenbo highlighted the strategic importance of India as a global hub, while Vice Chairman Deepak Garg emphasised the expansion’s role in driving innovation and infrastructure development. This investment enhances efficiency, reduces timelines, and strengthens SANY’s leadership in the construction equipment sector.

Concrete

Heidelberg Materials to acquire Giant Cement Holding

Published

4 hours ago

January 15, 2025

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Heidelberg Materials North America has agreed to acquire Giant Cement Holding Inc. (GCHI) and its subsidiaries, including Giant Cement Company, Dragon Products, and Giant Resource Recovery, for approximately US$600 million. The acquisition includes cement plants and terminals across the Southeastern U.S. and New England. It will enhance Heidelberg’s East Coast network and contribute to its sustainability goals. The transaction, expected to close by Q1 2025, will add US$60 million in EBITDA in its first year.