BMC awards Deonar legacy waste clearing contract at 2,540cr
Navayuga quoted 7.29% above BMC's estimated cost—beating HG Infra (11.83%) and Re Sustainability (24.8%). With this, the project will now be executed at Rs 2,540 crore, higher than BMC's original estimate of Rs 2,368 crore. The per-tonne processing cost will rise to Rs 1,373.35, up from the projected Rs 1,280.
Apart from the Vijayawada bypass, Navayuga is executing infrastructure projects in Mumbai too. These include a 13-km, 40-metre-wide elevated freeway extension from Mankhurd to Anand Nagar, awarded by MMRDA at Rs 2,682 crore, and the Thane Coastal Road, a 13.5-km partially elevated corridor from Balkum to Gaimukh, being built at a cost of Rs 2,727 crore.
You Can Also Check:
Mumbai AQI
|
Weather in Mumbai
|
Bank Holidays in Mumbai
|
Public Holidays in Mumbai
Interestingly, the Deonar clean up is being done after the state government directed the BMC to clear the dump site land. The state cabinet in Oct 2024, had approved a proposal to handover a portion of the Deonar Dumping Ground for the Dharavi Redevelopment Project Pvt Ltd, a joint venture being led by Navbharat Mega Developers Pvt Ltd (Adani Group's Special Purpose Vehicle) and Maharashtra govt.
Following this, in January, TOI had reported about how in a letter sent to the BMC commissioner on Jan 24, 2025, the state referring to the Swachh Bharat Mission Rules 2016, stated that under these guidelines, it is the municipal corporation's duty to clear the land by scientifically treating the waste on-site.
The contract period is set for three years, which includes the time for mobilisation and the monsoon period. This is among the largest tenders floated in recent years by the BMC for solid waste management. "Mobilisation works are expected to take time as at some spots, the waste dumped can go up to 40 metres and hence the bioremediation will need to be planned in a particular manner," said an official.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
22 minutes ago
- Indian Express
Premium mobilisation: PSU non-life insurers outperform private players in June quarter
Public sector general insurance companies outperformed their private sector rivals in the first quarter ended June 2025, recording a 14.6 per cent increase in gross premiums underwritten—well above the industry average of 8.84 per cent. They also succeeded in expanding their market share during this period despite an overall slowdown in the growth in health insurance premium. The four PSU general insurers reported a premium mobilisation of Rs 27,787 crore for the June 2025 quarter as against Rs 24,233 crore a year ago, according to figures available with the General Insurance Council. Industry leader New India Assurance posted a growth of 15.2 per cent at Rs 12,299 crore, Oriental Insurance showed a growth of 21.4 per cent, National Insurance 14.93 per cent and United India 7.17 per cent growth. New India Assurance also increased its market share from 14.67 per cent in June 2024 quarter to 15.51 per cent in the June 2025 quarter. Oriental Insurance also increased its market share from 6.46 per cent to 7.34 per cent during the same period and National Insurance from 4.78 per cent to 5.04 per cent. At the same time, among private players, ICICI Lombard showed a growth 0.61 per cent at Rs 7734.86 crore in premium underwritten for the June quarter. Bajaj Allianz General Insurance posted a growth of 9.63 per cent and Reliance General Insurance 1.60 per cent. ICICI Lombard's market share declined from 10.57 per cent to 9.75 per cent in June 2025 quarter. The overall industry premium underwritten increased by 8.84 per cent to Rs 79,301 crore for the June quarter, according to the GI Council. Total health premium underwritten increased by 8.12 per cent to Rs 32,343 crore in the June 2025 quarter as against a growth of 16.58 per cent in the June 2024 quarter. In June 2025, the non-life insurance industry reported a premium of Rs 23,422.5 crore, representing a 5.2 per cent growth compared to the 8.4 per cent growth reported in June 2024. 'The industry's transition to the 1/n rule, slowing health, and subdued PV growth have affected the industry's performance, partially offset by renewals in the fire and engineering segment,' said Saurabh Bhalerao, Associate Director of CareEdge Ratings. The '1/n rule' in insurance refers to an accounting method where commissions for long-term insurance policies are recognized evenly over the duration of the policy, rather than being recorded entirely at the outset. This represents a shift from earlier practices that allowed full commission recognition upfront. As a result, this change affects how insurers report their premiums, often leading to a lower reported premium in the initial period — particularly impacting public sector general insurers. Insurance industry sources say that premium collections from government-backed health schemes have dropped sharply, as many state and central programs have shifted from insurance-based models to trust-based funding. This change has reduced the overall premium inflow for insurers. At the same time, steep hikes in health insurance premiums — driven by rising medical costs, an 18 per cent GST, and higher hospital expenses — have put pressure on household finances. As a result, consumer demand has declined, and retail health insurance growth has slowed to around 10–13 per cent in FY25, compared to 20–25 per cent in earlier years. Non-life insurance premiums crossed the Rs 3-lakh crore mark in FY25, driven by supportive regulations, rising Insurtech adoption, accelerating digitalisation, and an expanding middle class. The government's Bima Trinity push is poised to accelerate growth in the non-life insurance sector. Standalone health insurers are expected to maintain their dominance in the retail health space. 'At the same time, the trajectory of motor insurance will closely follow vehicle sales and the upcoming revisions to third-party tariffs. The proposed rollout of composite licences could reshape the competitive landscape in the medium term. However, rising competition and global geopolitical uncertainties will remain crucial watchpoints for the sector,' it said.
Indian Express
22 minutes ago
- Indian Express
CoinDCX hit by $44 million crypto security breach
CoinDCX, one of India's leading cryptocurrency exchanges, on Sunday said it suffered a security breach resulting in the loss of approximately $44 million (around Rs 379 crore). However, the firm said no customer funds or wallets were affected. 'Customer assets remain 100 per cent safe and fully accessible. The incident was quickly contained and isolated. Exposure was limited to internal operational accounts — used only for liquidity provisioning on a partner exchange. Trading and rupee withdrawals are fully operational,' the firm said in a statement. 'Unauthorized access led to $44 million exposure from an operational account. Funds were routed through Solana-Ethereum bridges and consolidated into: 4,443 ETH ($ 15.7 million) 155,830 SOL ($ 27.6 million). Wallet activity is being closely tracked with global analytics partner,' it said. 'While this breach was limited to one internal operational account—and no customer funds were impacted—we take this incident with the utmost seriousness. This is more than an internal matter; it's a stark reminder of the evolving threats facing the crypto ecosystem, not just in India but globally,' said Sumit Gupta, co-founder & CEO, CoinDCX. 'As the country's largest exchange, we are committed to set new benchmarks in security and resilience. Our commitment is clear: to protect our customers, strengthen industry-wide defenses, and help build a safe and trusted foundation for India's digital asset economy,' Gupta said 'We are reaching out to transparently inform you of a security incident that occurred on July 19, 2025, involving one internal CoinDCX operational account used exclusively for liquidity provisioning on a partner exchange,' the firm said. According to the firm's website, it has 1.6 crore registered users and 500-plus crypto assets.
India.com
22 minutes ago
- India.com
Who was owner of land on which Mukesh Ambani and Nita Ambani's Rs 15000 crore Antilia is built? Ambanis bought the land for only Rs...
Mukesh Ambani and Nita Ambani's Antilia (File) Mukesh Ambani and Nita Ambani's Antilia: If you know about luxurious house of India, you would also know about Mukesh Ambani and Nita Ambani's Antilia which is one of the most luxurious residences in the world. Valued at an astonishing Rs 15,000 crore, the opulent mansion of the Ambani family was designed by the American architecture firm Perkins and Will. Built at an estimated cost of $2 billion (around Rs 17,400 crore), the luxurious home is packed with top-tier features like a fully equipped gym, spa, multiple swimming pools, a theater, lush terrace gardens, a private temple, and even a dedicated health center. But do you know how much Mukesh Ambani paid for the land on which this grand residence stands? Here's a look at the fascinating history behind the plot where Antilia was built. How Mukesh Ambani brought land for Antilia AIMIM leader Asaduddin Owaisi and Lok Sabha Member of Parliament made a statement claiming that the land on which Mukesh Ambani and Nita Ambani's luxurous building, Antilia was built originally belonged to a Waqf trust and billionaire Mukesh Ambani brought it for his dream home. As per multiple media reports, it is being suggested that the property on which Mukesh Ambani and Nita Ambani's Antilia is built was donated to the Waqf Board back. The report also said that the land was donated by Kareem Bhai Ibrahim in 1986, which was later brought by Mukesh Ambani in 2012. The reports also say that original owner of the land, Kareem Bhai Ibrahim had allegedly given the land for religious, education and orphanage purposes, but breaking the rules, the land was sold to Reliance Industries Chairman, Mukesh Ambani for commercial purpose (building his home) at a rate of Rs 21 crore. What is Waqf board's claim on Mukesh Ambani and Nita Ambani's Antilia? The land deal related to Mukesh Ambani and Nita Ambani's Antilia came into controversy due to the Waqf Board's claim, which quoted a Action Taken Report (ATR) which was presented in the Maharashtra Assembly. Notably, the ATR has said that the property of the Waqf Board cannot be sold for private use but only for the mentioned reason.
