Hyderabad's DEC Infra gets Central government housing contract worth Rs 2,000 crore in New Delhi
The company received a Letter of Acceptance from the Central Public Works Department (CPWD) of the Government of India after accepting the tender for carrying out works at a cost of Rs.2,000 crore. The company got the contract for the redevelopment of the general pool residential colony at Sriniwaspuri in New Delhi.
Extending gratitude to the Central Public Works Department (CPWD) for awarding the contract, DEC Infrastructure Chairman and Managing Director Anirudh Gupta said the project aims to provide modern residential facilities for the Central government employees. 'It's a proud moment for us to get the contract, reflecting our hard work in ensuring excellent infrastructure facilities both in the private and government sectors,' he explained.
The company would construct as many as 3,112 2BHK flats each with 1,100 sft in 16 blocks in 20.86 acres. The high-rise residential units include single basement, stilt and three-level podium parking, a multi-level car parking, a community centre and Central Government Health Scheme (CGHS) dispensary.
The redevelopment works also include all development works and services on EPC (Mode-I) basis including comprehensive maintenance and operation of service for five years after completion of construction work.
Commenting on the achievement, DEC Infrastructure Whole Time Director Ravinder Gupta said, 'The company's expertise was recognized with an esteemed agreement to lead the high-profile project in the national capital for the benefit of Central government employees.' The company recently bagged Rs 317.32 crore contract for taking up phase-I comprehensive conservation, retrofitting and setting up of service building in North Block in New Delhi.
DEC Infrastructure and Projects (India) Private Limited is actively involved in numerous projects worth over Rs.10,000 crore across various sectors in the country. It is presently executing seven projects including Telangana Institute of Medical Sciences (TIMS) in Alwal, Government Medical College in Ramagundam, Medical College and Hospital in Mancherial, Prisons complex in Siddipet, Railway Station at Egmore near Chennai.
Two more new projects taken up by the company are the High Court of Telangana and the Railway Station in New Delhi. The Delhi railway is being constructed at a cost of Rs.2,200 crore, while Central Cabinet Minister Chambers in New Delhi at a cost of Rs.295 crore and another contract awarded by NBCC India Limited for constructing a residential colony at Noida at a cost of Rs.2,500 crore.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
a few seconds ago
- Economic Times
Ola Electric showcases Bharat cell, rare earth-free motor at ‘Sankalp'
Company Images Ola Electric on Friday launched its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual 'Sankalp' event, held at the company's Gigafactory in Tamil Nadu. This was Ola's first public showcase at the 107-acre lithium-ion cell manufacturing facility. The 4680 Bharat cell, available starting today, offers 10% higher energy density and a battery life of around 15 years, the company claimed. It can be used in Ola vehicles, energy storage devices such as solar units, and even drones. Ola Electric also unveiled the new S1 Pro+ scooter, powered by the 4680 cell, with a top speed of 141 km/h and a promised range of 501 km. Its price has been cut from Rs 1,99,999 to Rs 1,69,999, with deliveries beginning September 22. Ola's second major announcement was a motor built with ferrite instead of neodymium, eliminating the need for rare earth magnets. These magnets, typically the strongest permanent magnets, have become a supply risk for India's auto industry as China tightens exports. 'The next generation of motor technology does not need rare earths. And your company has already built it,' said founder Bhavish Aggarwal at the event. The company also introduced MoveOS 6, its upgraded operating system that follows MoveOS 5. The new version adds features such as a voice assistant, camera, customisable motor sounds, personalised ride insights, and speed boost. According to Ola, MoveOS 6 will improve energy efficiency by 15%, reduce weight by 25%, and cut costs by 43%. These Gen4 upgrades are scheduled for release early next year. As part of the MoveOS 6 rollout, Ola will launch the S1 Pro Sport, a sport-segment scooter priced at Rs 1,49,999 (tentative), expected in January 2026. The company also revealed its upcoming electric bike, Diamond Head, targeted for has hosted its annual event on August 15 since 2021, when it launched its first S1 electric scooter range. Last year, it introduced its first lineup of electric motorcycles under the Roadster brand, offered in three variants, Roadster Pro, Roadster, and Roadster X, with introductory prices ranging from Rs 74,999 to Rs 2,49, the Gigafactory, Ola aims to mass-produce its homegrown NMC 2170 lithium-ion cells. At present, it imports cells from LG Chem in South Korea for its electric scooters, according to latest announcements come as the company faces regulatory scrutiny and a sharp decline in market share. Ola's share in the electric two-wheeler segment has fallen from over 50% a year ago to 16.8% in the first two weeks of July, placing it behind TVS Motor and Bajaj Auto, ET reported on July pressures add to the challenge. Ola Electric reported a net loss of Rs 428 crore in the June quarter, compared to Rs 327 crore a year earlier, though narrower than the Rs 870 crore loss in the March quarter. The company posted operating revenue of Rs 611 crore in the March quarter. With the 4680 Bharat cell, rare earth-free motor, and new vehicle launches, Ola is betting on technology and in-house manufacturing to regain its edge in India's fast-growing EV market. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
India.com
a few seconds ago
- India.com
India Bolstering Defence Capabilities, Remains Committed To Regional Peace: Report
HANOI: India's drive for defence self reliance and technological advancement has received a significant boost with the approval of a $2.3 billion (Rs 20,000 crore) project to develop next-generation Airborne Warning and Control Systems (AWACS) for the Indian Air Force (IAF), a report cited on Friday. The development underscores India's commitment to strengthening surveillance, reconnaissance, and situational awareness, while reflecting its foresight in addressing emerging security challenges amid a complex geopolitical landscape. 'AWACS platforms are critical force multipliers that provide real-time intelligence, surveillance, and command and control functions from airborne platforms. These systems detect, track, and engage threats at extended ranges, giving the IAF an unparalleled operational advantage in airspace management,' a report in Vietnam Times mentioned. 'The upcoming generation of AWACS will incorporate cutting-edge radar technology, advanced sensor fusion, and artificial intelligence-driven analytics. This will allow the Indian Air Force to monitor vast stretches of airspace with improved accuracy and responsiveness,' it added. According to the report, advanced detection capabilities will provide earlier warnings and enable coordinated responses to any aerial or missile threats. A key feature of this $2.3 billion project is its focus on indigenous research, development, and manufacturing, while enhancing indigenous defence technology. It stated that in line with the Government of India's 'Make in India' and 'Atmanirbhar Bharat' initiatives, the project aims not only to reduce reliance on foreign suppliers but also to strengthen the domestic defence industry ecosystem. Next-generation AWACS platforms, the report emphasised, are set to play a crucial role in boosting the operational readiness of the IAF. Additionally, with advanced early warning and command capabilities, the IAF will be able to carry out more effective air defence, offensive operations, and maritime surveillance. Furthermore, these systems are designed to interoperate effectively alongside other branches of the Indian Armed Forces, such as the Army and Navy, enabling a unified and synchronised approach to national defence. Through investment in cutting-edge surveillance technologies, the report highlighted that India bolsters its deterrence capabilities while reaffirming its commitment to regional peace and stability. The advanced AWACS systems will play a crucial role in monitoring cross-border activities and preventing incursions, thus promoting a secure environment that fosters economic growth and development. The report detailed that with the strengthening of aerial surveillance and command capabilities, the project not only reinforces India's defence posture but also encourages economic growth, technological advancement, and strategic autonomy. 'It is a testament to India's unwavering commitment to securing its skies and asserting its position as a resilient and technologically advanced nation on the global stage. With this decisive step, India moves closer to realising its vision of a strong, self-reliant defence ecosystem that safeguards the nation's interests and contributes to regional and global peace,' the report noted.
Mint
a few seconds ago
- Mint
How Brazil's Sugar Powerhouse Raízen Became a Penny Stock
It was just another Tuesday morning in the heart of Brazil's sugarcane region when workers in Sertãozinho, a small town four hours away from Sao Paulo, heard the news. Almost everyone working at Raízen SA's Santa Elisa sugar and ethanol mill was losing their job. The facility, which had propelled the town's economy for almost 90 years, was idling work, indefinitely. 'I felt numb, I looked into people's eyes and I saw sadness in them,' Natã Nobrega, a technician that worked at the mill for two decades, said in an interview last month. 'Nobody expected it.' The July closing of Santa Elisa, once the largest mill in top sugar producer Brazil, was a warning sign: its owner Raízen, a joint venture between Brazil's Cosan SA and London-based Shell Plc, was in trouble. It was a stark change in fortunes for a company that went public just four years ago as Latin America's largest share sale of 2021. On Thursday, Chief Financial Officer Rafael Bergman delivered a bombshell: Raízen was 'in active talks' for a capital injection after its debt ballooned 56% in the past year and the company burned through a 7-billion-real cash pile in the three months ended June 30. The shares tumbled as much as 15% in Sao Paulo after the news to a record low of just 1.02 reais . That's the stock's biggest slump since the company went public. It's now at a fraction of the record 7.60 reais it reached on its first day of trading. Raising capital was until now seen by most analysts as a remote possibility. After all, Cosan is controlled by Brazilian billionaire Rubens Ometto, who has historically liked to keep a firm grip on his businesses — fresh capital would dilute his power and influence. Cosan executives on Friday said the Brazilian holding company is now open to outside investment in Raízen. 'Bringing in a strategic partner is an option we do like,' Chief Executive Officer Marcelo Martins said. A new partner, he added, needs to be someone whose view about the business is 'in line with ours and Shell's strategy.' While lowering debt could 'clear the way for investors to regain interest in the stock,' for now the move means current shareholders will see their ownership diluted, analysts at UBS BB led by Matheus Enfeldt said in a report on Thursday. When Raízen was formed in 2011, Shell and Cosan painted a bright outlook, estimating the venture could reach $12 billion in value. Indeed, the IPO valued it at $14.3 billion. To meet its ambitious growth plans, Raízen's spending almost doubled in the past four years, while rising interest rates sent its debt surging. At the end of June, net debt stood at 49 billion reais, up from 31.6 billion a year earlier. To make matters worse, Raízen acquired Louis Dreyfus Holding BV's Biosev, a Brazilian sugar business that was bleeding cash and whose mills weren't always the most efficient. Raízen's bets on second-generation biofuels, traceable sugar and sustainable aviation fuel haven't paid off. The company, now barely worth $2 billion, is pulling the brakes on plans to make ethanol from cane residuals and its hopes to export ethanol to the US to make sustainable aviation fuel were hit with 50% tariffs. While years of low sugar and ethanol prices have also hurt the broader industry, Raízen has underperformed peers including Sao Martinho SA and Jalles Machado SA. In a bid to stay afloat, Raízen went through a management overhaul last year, naming Nelson Roseira Gomes Neto, a former Cosan executive, as the top boss. It also began to sell assets, having already disposed of its Leme sugar mill in Piracicaba, two hours away from Sao Paulo, and 55 units that generated electricity from renewable sources. There's more to come. Asset divestments so far accounted for the equivalent of just 7% of the net debt, Chief Executive Officer Gomes Neto said. The company is also in talks to sell mills in Mato Grosso do Sul state and of the group's oil refinery and gas stations in Argentina, Bloomberg reported. 'The divestment journey will continue,' Bergman said on Thursday. 'We acknowledge that this is not a short-term journey.' It may also get a new investor, with Lazard advising Shell and Itau advising Cosan, Valor Economico newspaper reported on Thursday. The new partner is expected to bring liquidity to the company while plans to sell assets aren't fully completed. In Sertãozinho, as many as 1,200 people would end up losing their job at the Santa Elisa mill, a unit Raízen acquired as part of the Biosev deal. It wasn't how people in town expected things to go. 'I thought it could one day go back to what it used to be,' said Maurilio Biagi Filho, a former executive who ran Santa Elisa — a mill his grandfather acquired in 1936 — for years before the sale to Dreyfus. 'But economic factors outweigh any other scenario.' With assistance from Leda Alvim and Gerson Freitas Jr.. This article was generated from an automated news agency feed without modifications to text.
