METRO EXPANSION
Delhi metro to open its phase 4 priority corridors by 2026, over 50 pc work already done
The Delhi Metro Rail Corporation (DMRC) is accelerating its Phase 4 expansion, aiming to complete 65 kilometers of new lines across three corridors by 2026. Over 50% of the work is finished, with the Majlis Park-Maujpur section nearing 80% completion. Despite delays due to the COVID-19 pandemic and tree-cutting permissions, substantial progress continues, with the Janakpuri West-Krishna Park Extension expected to open by August 2024.
Delhi metro station to have three interchanges as green line expands
New Delhi Metro station to become a triple interchange facility with Green Line expansion from Inderlok to Indraprastha, enhancing connectivity for commuters from Bahadurgarh and west Delhi.
Narela to benefit from new metro extension linking Delhi, UP, Haryana
The Union Finance Ministry has approved the 26-km Rithala-Narela-Kundli Delhi Metro corridor, awaiting final Cabinet approval. This Rs 6,231 crore project will enhance connectivity among Uttar Pradesh, Delhi, and Haryana, transforming the Narela sub-city. Funding is shared between the central and state governments, with significant contributions from the DDA and loans. The corridor, with 21 stations, will be a boon for Narela and Rohini sub-cities, improving access to key institutions and promoting regional development. Completion is expected in four years, with daily ridership projected to grow significantly by 2055.
Modi 3.0's agenda for Indian Railways: Focus on capacity expansion with new Vande Bharat, Amrit Bharat trains and reduced wait times
The Modi-led NDA government's third term focuses on infrastructure development, with Indian Railways enhancing passenger and cargo capacity. Key areas include increasing capacity, reducing waitlists, introducing new trains like Vande Bharat and Amrit Bharat, and enhancing safety measures. Modernization efforts aim to improve the passenger experience, with initiatives like the new sleeper variant of the Vande Bharat Express. The Integral Coach Factory is tasked with domestically producing bullet trains, reflecting a commitment to 'Make in India' and infrastructure growth
Anil Ambani's Reliance Infra to raise USD 350 mn FCCB to repay rupee debt, expansion
The company has debt facilities in form of term loans on non-convertible debentures of Rs 2253 crore and Rs 703 crore respectively, according to a Care Rating report dated February 26 this year.
Hiring in tier-2 cities showing consistent growth: foundit
Tier-2 cities in India have seen consistent growth in hiring compared to metropolitan areas, with cities like Kochi, Coimbatore, and Jaipur emerging as key hiring locations. The overall hiring index shifted to 295 in May 2024, with an 11% increase in hiring compared to the previous year. Tier-2 cities are becoming increasingly attractive hubs for businesses seeking expansion opportunities and tapping into diverse talent pools for sustainable growth.
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Expect 13-15% earnings growth in FY-25 driven by topline growth, margin expansion: Venugopal Garre
Remember, we have not even yet seen a rate cycle decline as well, so those are the levers which come through late in the year from a support point of view for macro.
ET Analysis: Indian hospital chains report revenue growth & expansion plans amidst regulatory concerns
Leading hospital chains in India have reported improved average revenue per operating bed (ARPOB) and profitability in the latest quarter, driven by better payer mix and cost control measures. Expansion plans are underway, with a focus on markets like Bengaluru and Mumbai, through asset-light models. Adjacent businesses such as diagnostics, virtual care, and digital healthcare platforms are also seeing growth. However, regulatory proposals to rationalize rates may pose risks to sector valuations.
Malaysia Airlines bets big on Indian non-metro cities
Malaysia Airlines is facing challenges in expanding its operations in India due to a shortage of flying rights. The airline has exhausted its rights to Indian metros and is now planning to increase frequency from Amritsar to seven flights per week from August. The airline has also started flights from Trivandrum and Ahmedabad.
India's GDP is USD 3.95 trillion, says Union Minister Hardeep Singh Puri
While speaking in Chandigarh on Sunday, Puri said, "As per the public data released by IMF, our GDP is USD 3.95 trillion, and we are in the fifth position. Japan is in the fourth position with a GDP of USD 4.1 trillion. If our growth rate is going on at 7-8 percent and Japan's is flat, it's a matter of a few months, if not a year, and our economy will reach fourth place."
SC upholds acquisition of land by DDA, DSIIDC, DMRC between 1957 and 2006 for public infra projects
After hearing arguments on a batch of hundreds of petitions, a bench of justices Surya Kant, Dipankar Datta and Ujjal Bhyan passed the verdict on May 17 setting aside a Delhi High Court order, which had declared the acquisition proceedings to have lapsed in terms of Section 24(2) of the Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act, 2013.
AAP not implementing Centre's schemes in Delhi, created hurdles in Metro project: Hardeep Puri
Union Minister Hardeep Singh Puri accuses AAP govt of not implementing Modi govt's schemes like Pradhan Mantri Awas Yojana and Ayushman Bharat in Delhi, alleging obstacles in Metro project implementation under the fourth phase of Delhi Metro's expansion. He mentions implementing projects worth Rs 53,000 crore in the capital.
Dubai-based Pluugin e-commerce plans expansion in India, create 2,000 jobs in 3 years
Dubai-based Pluugin E-commerce plans to expand in India, aiming to create over 2,100 jobs in three years and achieve full pan-India coverage within 12 months. India will also serve as the backend office for operations in Bangladesh, Nepal, and Sri Lanka. The company focuses on MSMEs, promoting a global presence for 'Make in India' brands.
"India to have world's second-largest urban metro system over next 2 years": Hardeep Singh Puri
Union Minister Hardeep Singh Puri highlighted the remarkable growth of India's urban metro transport, noting that the country is on track to have the world's second-largest urban metro system in the next two and a half years. He emphasized the success of Delhi's metro system, with 73 lakh riders daily, contributing to easier city commutes despite its expanding population. Puri also discussed advancements in the criminal justice system and police modernization under Prime Minister Narendra Modi's leadership.
High airfares remain a challenge, says Thomas Cook India's Madhavan Menon
Thomas Cook India's Executive Chairman Madhavan Menon highlighted high airfares and limited airline capacity as significant challenges affecting both leisure and business travelers in India. Despite an increase in scheduled flights, the demand-supply constraints are expected to ease only in the long term with the introduction of new aircraft. Menon outlined the company's plans to expand its physical network through owned and franchise outlets and enhance its digital presence.
PM's active role, personal monitoring responsible for infrastructure sector turnaround, says FM
Nirmala Sitharaman praises PM Narendra Modi for reviving the infrastructure sector, highlighting the neglect during the UPA regime and the significant advancements made under the Modi government, including the expansion of the Metro network, growth in the aviation sector, and initiatives to boost the maritime ecosystem.
Why warehousing is a booming asset class for discerning investors in India
The demand for modern warehousing facilities is touching a new high as e-commerce and retail sales are seeing a surge with each passing day in India.
Delhi's Aerocity near IGI airport to get India's largest mall, spanning over 28 lakh sqft
By 2027, Indira Gandhi International Airport's Aerocity will get India's largest mall, spanning over 28 lakh square feet. This $2.5 billion expansion marks the initial phase in creating India's first aerotropolis, expected to grow significantly over the next five years. Upon completion, Aerocity will feature extensive commercial space, a mega mall, and public areas, fostering a bustling business district.
Agritech startup Superplum raises $15 million from investors to expand fresh fruits business
Superplum has built a direct-from-farm produce supply chain, using proprietary technology and cold-chain infrastructure to fundamentally improve how produce is grown and brought to market.
First Vande Bharat Metro train set rolls out: Watch first-look video here
A milestone achievement occurred as Punjab's Kapurthala factory unveiled the inaugural Vande Bharat Metro coaches, heralding a new era in Indian rail development. Scheduled for July testing, these trains promise efficient travel with a 100-250 km range and expandable configuration. Initial plans envision 50 trains, adaptable to 400, aimed at connecting major cities. Further innovations include sleeper variants and increased speeds, signaling a transformative shift in Indian rail infrastructure.
IHCl aiming for double digit topline growth this fiscal: IHCL MD and CEO Puneet Chhatwal
IHCL aims for double-digit growth, plans 25-30 hotel openings this fiscal. It will launch hotels overseas but focus on India. Chhatwal, MD and CEO, says FY2025 will be a 'breakthrough year' for international expansion, with a primary focus on the Indian subcontinent. The branded hotel supply in India is expected to grow fivefold in the next 7-10 years. IHCL reported a 29% rise in net profit for Q4 FY2024. It will introduce a re-imagined Gateway hotel offering in the upscale segment, targeting growth opportunities in emerging micro markets.
Odysse Electric looking to raise USD 5-10 million for expansion
Odysse offers seven vehicle models with 12 variants, comprising both high- and low-speed electric scooters as well as bikes. he company has already started the process to secure external funding, which is expected to be completed by the current quarter of this fiscal, Vora said in an interaction with PTI.
From Steam Engine to Vande Bharat: Tracing the 171-year journey of Indian Railways since April 16, 1853
Indian Railways, established in 1853, boasts a remarkable 171-year journey shaping India's transportation landscape. Starting with the Bombay-Thane route, it rapidly expanded, witnessed electrification, and embraced modernization through reorganization and technology. PM Modi's vision includes expanding Vande Bharat trains nationwide and introducing bullet trains, exemplifying a commitment to innovation. With substantial investments and proactive surveys, Indian Railways is poised for transformative growth, continuing to be a vital link in India's development story.
ITC Hotels plans to add 70 properties in five years: CEO
ITC Hotels aims to bolster its portfolio to 200 hotels within the next five years, up from the current count of 130, by introducing properties across its brands. This expansion is geared towards seizing opportunities in both business and leisure travel sectors in India.
Two new Delhi Metro lines get Union Cabinet approval: Here are details about route, deadline, stations
The Union Cabinet today approved the expansion of two additional Delhi Metro corridors on Wednesday. These corridors will link Lajpat Nagar to G Block in Saket and Inderlok to Indraprastha, covering a total distance of about 20 km. Following approval, the Delhi Metro Rail Corporation (DMRC) will commence the tendering process to choose contractors and kickstart the expansion endeavor.
PM Modi to inaugurate India's first underwater metro service in Kolkata today
In a monumental development set to transform urban transportation, PM Modi is slated to inaugurate several key metro and rapid transit projects across countries, marking a significant stride towards enhancing urban mobility and connectivity.
Interim budget: Noida developers banking on govt's push to metro expansion, PMAY scheme
CREDAI Western Uttar Pradesh Secretary Dinesh Gupta said the revision of the fiscal deficit, increased tax receipts, doubling of the GST tax base, and other indicators of robust economic growth were all highlighted in the union budget and real estate will benefit from a strong economy. Plans to construct additional airports, train lines, metro routes, EV facilities, etc have been announced. Naturally, this will result in increased demand for real estate in western UP, including Noida," Gupta said.
Bengaluru Metro expansion: Sarjapur To Hebbal 37-km metro line project report ready. Details here
Bengaluru's Namma Metro is poised for a substantial upgrade with the formulation of a detailed project report (DPR) for a new 37-km line connecting Sarjapur to Hebbal. Estimated at Rs 16,543 crore, this initiative addresses travel concerns to and from the city's tech zones.
Bengaluru Metro: Experts call suburban expansion plan 'ill-conceived'
Mobility expert and convenor of IISc Sustainable Transportation Lab, Ashish Verma, said, "BMRCL should focus on building the metro network of 317km proposed in the CMP. Metro networks in the core area are required to decongest the traffic. A suburban rail network and robust bus transport are better options to link satellite towns. Building a suburban rail network or making optimal utilisation of the existing rail network with a better integration is (more) cost-effective than building a metro network.”
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