logo
Globe Civil Projects bags Rs 172.99 crore NBCC contract for Central University of Punjab development

Globe Civil Projects bags Rs 172.99 crore NBCC contract for Central University of Punjab development

Business Upturn2 days ago
By Aman Shukla Published on July 19, 2025, 20:08 IST Last updated July 19, 2025, 20:08 IST
Globe Civil Projects Limited has secured a significant new order from NBCC (India) Ltd. worth ₹172.99 crore. The contract involves the development of key infrastructure and buildings for the Central University of Punjab, located in Village Ghudda, Bathinda district, Punjab.
The project will be executed on an Engineering, Procurement, and Construction (EPC) basis and includes the construction of a range of academic and residential facilities, such as: A 400-seater Girls' Hostel
A 600-seater Boys' Hostel
An Academic Block
A 100-seater International Students' Hostel
A Vice Chancellor's Residence
And extensive external development works across the campus
The project is expected to be completed in approximately 21 months.
This latest win highlights Globe Civil Projects' growing reputation and execution strength in large-scale institutional and educational infrastructure projects. It also reflects the continued trust placed by leading government agencies like NBCC in the company's ability to deliver quality EPC solutions across the country.
Ahmedabad Plane Crash
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US retail giant Costco to set up global capability centre in India, to employ 1000 people, sources say
US retail giant Costco to set up global capability centre in India, to employ 1000 people, sources say

Yahoo

time12 minutes ago

  • Yahoo

US retail giant Costco to set up global capability centre in India, to employ 1000 people, sources say

By Rishika Sadam and Sai Ishwarbharath B HYDERABAD/BENGALURU (Reuters) -U.S. retailer Costco Wholesale Corp will open its first global capability centre (GCC) in India in Hyderabad, two people familiar with the plans told Reuters. The centre will initially employ 1,000 people and scale up eventually, sources said. Costco did not immediately respond to Reuters request for a comment. Sign in to access your portfolio

Managed Services Market to Reach USD 990,611.47 Million by 2032, Growing at a CAGR of 14.5%: Credence Research
Managed Services Market to Reach USD 990,611.47 Million by 2032, Growing at a CAGR of 14.5%: Credence Research

Yahoo

timean hour ago

  • Yahoo

Managed Services Market to Reach USD 990,611.47 Million by 2032, Growing at a CAGR of 14.5%: Credence Research

PUNE, India, July 21, 2025 /PRNewswire/ -- The Managed Services Market is poised for substantial growth, with its value projected to increase from USD 335,320 million in 2024 to USD 990,611.47 million by 2032, registering a CAGR of 14.5%. This robust expansion is driven by the growing need for businesses to optimize IT operations, reduce operational costs, and enhance cybersecurity resilience. As digital transformation accelerates across industries, organizations are increasingly outsourcing IT infrastructure, cloud management, network monitoring, and security services to managed service providers (MSPs) to focus on core business functions while ensuring scalability and operational efficiency. The surge in remote work models, cloud adoption, and complex IT environments further amplifies demand for managed services that offer 24/7 monitoring, compliance management, and disaster recovery solutions. Enterprises are also leveraging MSPs to bridge the IT skills gap and gain access to cutting-edge technologies like AI, automation, and analytics. The market outlook remains favorable, with rising investments in managed security services, data center outsourcing, and hybrid cloud management expected to create new growth opportunities through 2032. Browse the report and understand how it can benefit your business strategy - Key Growth Determinants – Managed Services Market The global managed services market is witnessing robust expansion, projected to reach substantial figures in the coming years. This growth is primarily fueled by the evolving technological landscape, increasing operational complexities, and a strategic shift in business priorities. Increasing Complexity of IT Infrastructure and Operations: As businesses adopt advanced technologies like cloud computing (multi-cloud and hybrid cloud environments), Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT), their IT environments become increasingly complex. Managing these intricate systems, ensuring seamless integration, and maintaining optimal performance requires specialized expertise that many organizations lack in-house. Managed Service Providers (MSPs) offer this specialized knowledge, making them indispensable for effective IT infrastructure management. Growing Demand for Cost Optimization and Operational Efficiency: Organizations are constantly under pressure to reduce operational expenditures while maintaining high service quality and scalability. Outsourcing IT operations to MSPs allows businesses to convert capital expenditures (CapEx) into predictable operational expenditures (OpEx), leading to significant cost savings. MSPs help streamline processes, reduce downtime, and improve overall operational efficiency, enabling businesses to allocate their internal resources more strategically. Heightened Cybersecurity Threats and Regulatory Pressures: The escalating sophistication and frequency of cyber threats (e.g., phishing, ransomware, data breaches) necessitate robust and proactive cybersecurity measures. Simultaneously, stringent data privacy regulations (e.g., GDPR, HIPAA) impose significant compliance burdens on businesses. Managed Security Services (MSSs) offered by MSPs provide end-to-end protection, including threat intelligence, incident response, firewall management, and compliance adherence, mitigating risks and ensuring data security. Shortage of Skilled IT Professionals: There is a persistent global shortage of skilled IT professionals, particularly in specialized areas like cybersecurity, cloud management, and AI. This talent gap makes it challenging for organizations to build and maintain in-house teams capable of managing modern IT infrastructures. MSPs bridge this gap by providing access to a pool of certified experts, allowing businesses to leverage high-level technical skills without the overhead of hiring and training. Focus on Core Business Functions: By offloading non-core IT operations to MSPs, businesses can redirect their internal teams and resources to focus on strategic initiatives, innovation, and core business objectives. This allows companies to enhance their competitive advantage and drive growth in their primary domains. Key Growth Barriers – Managed Services Market 1. Cybersecurity and Evolving Threats: The constant evolution of cyber threats (ransomware, phishing, DDoS, APTs) poses a significant challenge. MSPs must continuously update their security measures and knowledge to protect client data and systems, which can be resource-intensive. MSPs are high-value targets for cybercriminals as a breach of an MSP can grant access to multiple client networks. This puts immense pressure on MSPs regarding liability and reputational damage in case of a breach. Some MSPs may offer inadequate security services or operate with fragmented security tools and siloed data, leading to vulnerabilities and inefficiencies. 2. Talent Shortages and Skill Gaps: There's a persistent shortage of skilled IT professionals, especially in specialized areas like cybersecurity and AI. This makes it difficult for MSPs to attract, hire, and retain top talent, impacting their ability to handle complex IT infrastructures and scale operations. Many MSPs experience employee churn, losing skilled technicians to in-house IT departments of end-user organizations. 3. Maintaining Profit Margins and Pricing Pressures: The MSP market is increasingly saturated, with many providers offering similar services. This intensifies competition and leads to price pressure, making it challenging for MSPs to maintain profitability while offering competitive pricing. In the quest to win contracts, some MSPs may undervalue their services or construct pricing models that don't drive maximum profit, making it difficult to raise prices later. Unexpected costs like cyber insurance premiums, compliance requirements, and the need for additional services or hardware upgrades can impact margins. 4. Scalability and Resource Management: Smaller MSPs, in particular, struggle to expand services without overwhelming resources or compromising service quality. Rapid client growth can strain MSP resources. Managing a variety of solutions across different clients increases complexity. Integrating new IT services with existing legacy systems can lead to compatibility issues, disruptions, and additional expenses. Failure to effectively forecast demand and allocate resources can lead to being swamped, delayed responses, and a decline in service quality. 5. Regulatory Compliance and Data Sovereignty: Compliance with various data privacy regulations (GDPR, CCPA, HIPAA) is non-negotiable and constantly evolving. MSPs face a continuous challenge to ensure client compliance, which can be resource-intensive and incur hefty fines for non-compliance. Mandates requiring localized data processing can force providers to duplicate infrastructure in each jurisdiction, reducing economies of scale and complicating global service delivery. Key Market Opportunities – Managed Services (IBC) Market 1. Cybersecurity and Evolving Threats: The constant evolution of cyber threats (ransomware, phishing, DDoS, APTs) poses a significant challenge. MSPs must continuously update their security measures and knowledge to protect client data and systems, which can be resource-intensive. MSPs are high-value targets for cybercriminals as a breach of an MSP can grant access to multiple client networks. This puts immense pressure on MSPs regarding liability and reputational damage in case of a breach. Some MSPs may offer inadequate security services or operate with fragmented security tools and siloed data, leading to vulnerabilities and inefficiencies. 2. Talent Shortages and Skill Gaps: There's a persistent shortage of skilled IT professionals, especially in specialized areas like cybersecurity and AI. This makes it difficult for MSPs to attract, hire, and retain top talent, impacting their ability to handle complex IT infrastructures and scale operations. Many MSPs experience employee churn, losing skilled technicians to in-house IT departments of end-user organizations. 3. Maintaining Profit Margins and Pricing Pressures: The MSP market is increasingly saturated, with many providers offering similar services. This intensifies competition and leads to price pressure, making it challenging for MSPs to maintain profitability while offering competitive pricing. In the quest to win contracts, some MSPs may undervalue their services or construct pricing models that don't drive maximum profit, making it difficult to raise prices later. Unexpected costs like cyber insurance premiums, compliance requirements, and the need for additional services or hardware upgrades can impact margins. 4. Scalability and Resource Management: Smaller MSPs, in particular, struggle to expand services without overwhelming resources or compromising service quality. Rapid client growth can strain MSP resources. Managing a variety of solutions across different clients increases complexity. Integrating new IT services with existing legacy systems can lead to compatibility issues, disruptions, and additional expenses. Failure to effectively forecast demand and allocate resources can lead to being swamped, delayed responses, and a decline in service quality. Segmentation By Service Type Managed Network Services Managed Security Services Managed Data Center Services Managed Infrastructure Services Managed Mobility Services Managed Communication and Collaboration Services Managed IT Support Services Managed Cloud Services Managed Application Services Managed Backup and Disaster Recovery Services By Deployment Model On-Premise Cloud-Based By Organization Size Small and Medium-Sized Enterprises (SMEs) Large Enterprises By End-User Industry BFSI (Banking, Financial Services, and Insurance) IT and Telecom Healthcare Manufacturing Retail and E-commerce Government and Public Sector Energy and Utilities Education Media and Entertainment Transportation and Logistics By Region North America Europe Asia Pacific Latin America Middle East & Africa Preview the report with a detailed sample and understand how it can benefit your business strategy. Request a free sample today - Regional Analysis – Managed Services Market 1. North America Market Dominance: North America currently holds the largest share of the global managed services market in terms of revenue. This dominance is attributed to the early adoption of cloud computing, robust IT infrastructure, and high IT spending by enterprises. Key Drivers: Trends: A shift towards more specialized and outcome-based services, with a focus on delivering measurable business results. 2. Asia Pacific (APAC) Fastest Growing Market: APAC is projected to be the fastest-growing region in the managed services market, exhibiting a high Compound Annual Growth Rate (CAGR). Key Drivers: Trends: Significant opportunities in managed data center and IT infrastructure services, as well as managed security services. India and China are key growth markets within the region. 3. Europe Significant Market Share: Europe holds a substantial share of the global managed services market. Key Drivers: Trends: Managed security is a highly lucrative and fast-growing segment. Countries like Germany, the UK, and France are expected to show strong growth. There's also a growing interest in nearshore services for cost efficiency and collaboration. 4. Middle East & Africa (MEA) Considerable Growth Rate: The MEA region is estimated to grow at a considerable rate in the managed services market. Key Drivers: Trends: Managed data center and hosting services hold a significant share, while managed security services are experiencing rapid growth due to heightened attack frequencies. 5. Latin America High Growth Potential: Latin America is also expected to exhibit a strong CAGR in the managed services market. Key Drivers: Trends: Managed security services are a fast-growing segment, and Brazil is expected to be a key growth country within the region. Credence Research's Competitive Landscape Analysis – Managed Services Market Credence Research's Competitive Landscape Analysis of the Managed Services Market highlights the dominance of global IT and cloud leaders such as IBM, Microsoft, Cisco, and Google Cloud, who command significant market share due to their extensive service portfolios, technological expertise, and global delivery capabilities. These players offer a comprehensive range of managed services including infrastructure management, cloud migration, cybersecurity, and application support. Strategic partnerships, AI integration, and end-to-end digital transformation services further strengthen their competitive positions in both mature and emerging markets. Alongside global leaders, the market features strong competition from specialized and regional players like Secureworks, Lumen Technologies, and MetTel, who focus on niche segments such as cybersecurity, network services, and industry-specific solutions. These firms differentiate through deep customer engagement, localized service delivery, and tailored offerings that meet regulatory and operational requirements. According to Credence Research, competition in the managed services market is shaped by the ability to deliver scalable, secure, and cost-effective solutions while adapting quickly to evolving technology demands and client expectations. Tailor the report to align with your specific business needs and gain targeted insights. Request Key Player Analysis Accenture ARYAKA NETWORKS, INC. AT&T Inc. Atera Networks Ltd. BMC Software, Inc. Broadcom Cisco Systems, Inc. DXC Technology Company Fujitsu HCL Technologies Limited HP Development Company, L.P. International Business Machines Corporation Lenovo Recent Industry Developments April 2025: Accenture Federal Services secured a USD 1.6 billion task order to enhance the U.S. Air Force Cloud One environment, focusing on automation and financial governance. March 2025: Arrow Electronics introduced an AI platform for North American channel partners, expanding its portfolio with managed AI deployments across security and cloud services. December 2024: Accenture reported USD 17.7 billion in Q1 FY2025 revenue, with managed services contributing USD 8.6 billion, reflecting 11% growth. November 2024: Dell broadened its edge and 5G ecosystem through expanded collaborations with Ericsson and Nokia to strengthen its edge-management capabilities. September 2024: IBM unveiled new services integrating generative AI and Oracle cloud applications to support Oracle clients' digital transformation. September 2024: IBM and NTT DATA launched SimpliZCloud, a fully managed cloud platform for financial institutions built on IBM LinuxONE, enabling AI/ML adoption and improved infrastructure performance through a subscription-based model. September 2024: TCS introduced two AI-powered cybersecurity offerings—Managed Detection and Response (MDR) and Secure Cloud Foundation—in partnership with Google Cloud to improve hybrid cloud security posture. June 2024: DXC Technology and Dell launched Enterprise Intelligence Services (EIS), combining AI, data analytics, and cloud to deliver advanced multi-cloud managed services for operational optimization. June 2024: Telefónica Tech partnered with IBM to advance enterprise-level AI, data analytics, and data management solutions. May 2024: Lenovo collaborated with Cisco to offer integrated infrastructure and networking solutions aimed at accelerating enterprise digital transformation. May 2024: Elitery, an Indonesian cloud services provider, was recognized as a Google Cloud Managed Services Provider, enabling it to deliver generative AI solutions to local governments. May 2024: Dell Technologies and CrowdStrike expanded their partnership to deliver Managed Detection and Response (MDR) services using the CrowdStrike Falcon XDR platform. March 2024: Cognizant extended its partnership with Pon IT to continue delivering cloud managed services and optimizing cloud platforms across Pon Holdings' subsidiaries. January 2024: Accenture acquired NaviSite to bolster its managed services capabilities in application and infrastructure management for North American clients. January 2024: Kyndryl and Cisco collaborated on a new security edge service designed to strengthen customers' cybersecurity posture and response capabilities. January 2024: GTT partnered with JOVO to provide inspection, maintenance, repair, and engineering consultancy through two new technical services. October 2023: Logicalis introduced its Intelligent Connectivity suite—featuring SASE, SSE, SD-WAN, and Private 5G—powered by Cisco and supported by the Logicalis Digital Fabric Platform. September 2023: Cloud5 Communications launched a managed services division targeting IT needs across hospitality, student housing, and senior living sectors. May 2023: Alfar Capital and Walter Capital Partners acquired MSP Corp in Canada and merged it with Groupe Access to enhance IT and cybersecurity offerings. January 2023: Rackspace Technology launched Modern Operations, a managed public cloud service for Azure, AWS, and GCP, offering 24/7 support and cloud optimization capabilities. Reasons to Purchase this Report: Gain a comprehensive understanding of the market through qualitative and quantitative analyses, considering both economic and non-economic factors, with segmentation and sub-segmentation details provided in terms of market value (USD Billion). Identify regions and segments expected to experience the fastest growth or dominate the market, with a detailed analysis of geographic consumption patterns and the factors driving or hindering market performance in each region. Stay informed about the competitive environment, with rankings of major players, recent product and service launches, partnerships, business expansions, and acquisitions from the past five years. Access detailed profiles of major market players, including company overviews, insights, product benchmarking, and SWOT analysis, to understand competitive advantages and market positioning. Explore the present and forecasted market landscape, with insights into growth opportunities, market drivers, challenges, and constraints for both developed and emerging regions. Benefit from Porter's Five Forces analysis and Value Chain insights to evaluate various market perspectives and competitive dynamics. Understand the evolving market scenario, including potential growth opportunities and trends expected in the coming years. Browse the report and understand how it can benefit your business strategy - Discover additional reports tailored to your industry needs Managed Printing Services (MPS) Market - Managed Pressure Drilling Market - Managed Blockchain Services Market - Managed Workplace Services Market- Managed Database Services Market - Full Body Scanners Market - Satellite Dish Market - Digital Mining Market - Follow Us: About Us: Credence Research is a viable intelligence and market research platform that provides quantitative B2B research to more than 2000 clients worldwide and is built on the Give principle. The company is a market research and consulting firm serving governments, non-legislative associations, non-profit organizations, and various organizations worldwide. We help our clients improve their execution in a lasting way and understand their most imperative objectives. Contact Us Mitul DeanTower C-1105 , S 25, Akash Tower,Vishal Nahar, Pimple Nilakh, Haveli,Pune – 411027, Indiasales@ Logo - View original content to download multimedia: SOURCE Credence Research Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Tesla shakes automotive world with announcement regarding major new facility: 'We wish to see R&D and manufacturing done [here]'
Tesla shakes automotive world with announcement regarding major new facility: 'We wish to see R&D and manufacturing done [here]'

Yahoo

time2 hours ago

  • Yahoo

Tesla shakes automotive world with announcement regarding major new facility: 'We wish to see R&D and manufacturing done [here]'

After years of delays and countless rumors, Tesla has entered the Indian automotive marketplace with the launch of an "experience center" in Mumbai, Teslarati reported. Half a dozen display vehicles were imported for the July 15 launch, which was intended to gauge interest among consumers. One of the challenges facing Tesla in the market is sky-high tariffs, which amount to around 70% on imported vehicles, according to Teslarati. With no manufacturing facilities in the country, the company has no choice but to import its vehicles, at least until a domestic production plant can be brought online, which would take years. "In the future, we wish to see R&D and manufacturing done in India, and I am sure at the appropriate stage, Tesla will think about it," said Devendra Fadnavis, chief minister of Maharashtra, according to Reuters. The tariffs make India's Teslas far more expensive than they are in other markets. The Model Y will sell for roughly $70,000 in its standard rear-wheel-drive configuration, while the long-range model will start at nearly $79,000, per Reuters. These vehicles sell in the United States for around $32,500 and $46,000. The move into the Indian marketplace comes as Tesla's global sales continue to slump. From April through June, Tesla sold 13% fewer vehicles than it did during the same period a year prior, CBS News reported. Overall, Tesla's share of the U.S. EV market has plummeted from 60% in 2020 to 38% in 2024, largely because of stiffer competition, according to the International Energy Agency. Perhaps most troubling, Tesla has struggled even as overall sales of electric vehicles have climbed. In 2024, 1 in 5 new cars sold was an EV, totaling 17 million worldwide and an increase of 25% over the year prior, the IEA found. Would you be more likely to drive an EV if you could charge it in 5 minutes? Yes Depends on the cost No way I already have an EV Click your choice to see results and speak your mind. Electric vehicles help improve public health, particularly in cities, where particulate matter and other pollutants from internal combustion engines contribute to a range of health problems. According to the World Health Organization, air pollution combined with household air pollution causes 7 million premature deaths every year, and 99% of the world's population lives in areas where the air does not meet minimum health standards. The vast majority of this pollution comes from the burning of dirty energy sources, such as gas, oil, and coal, which releases heat-trapping gases into the atmosphere, contributing to rising global temperatures. Thus, EVs are a win-win for public health and for mitigating the worst impacts of the warming planet. A great way to enhance the environmental and public health benefits of driving an EV is to charge it with solar energy. By installing solar panels on your home, you can drop your electricity bill to practically nothing while charging your EV for less than it would cost at a public charging station or via the grid. EnergySage offers a free tool that makes it easy to compare quotes from vetted solar installers in your area, saving customers up to $10,000 in the process. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store