Latest news with #Infra
Time of India
03-08-2025
- Business
- Time of India
D-G Shipping crackdown, shipbuilding tensions & port concessions: What was important in the week gone by!
Advt Advt India's bid to grab a larger slice of the seafarers required by the global shipping industry has, of late, been dented by reports of unapproved private entities offering competency certificates that does not fit with the training and assessment standards set by India following a structured programme of examination, assessment and certification, as per a global treaty known as the STCW Convention adopted by the International Maritime Organisation (IMO).The Indian seafarers were lured by authorised as well as unauthorised manning agents to take up assignments on foreign flagged ships without adequate scrutiny of the fraudulent certificates issued to curb the fraudulent practices, India's Directorate General of Shipping issued an order on July 18, banning Indian seafarers holding certificates issued by the maritime administration of countries that are not recognised by India from sailing on foreign flagged order, though, sparked widespread protests over fears that it would render thousands of seafarers jobless and led to a court August 1, the day when the Bombay High Court heard the petition filed by a couple of seafarers, the D G Shipping issued a new order prohibiting foreign governments, maritime administrations, agencies, institutions, or representatives from conducting maritime training, including online or distance learning accessible in India, leading to issuance of seafarers' competency certificates under the STCW Convention, without its prior written new order strikes at the very root of the malaise and is not seen as overtly hitting the seafarers, some of whom might have wittingly or unwittingly fallen for the trap, in their desire to get jobs on board ships, and took a shortcut to attain competency certificates. It also seeks to rectify the situation by asking the unauthorised private entities to fall in line with Indian Infra reported in detail the moves by D G Shipping aimed at ensuring that India becomes a bigger supplier of quality crew to the global shipping other significant developments of the week, we reported that Prime Minister Narendra Modi 's ambitious plans for India's shipbuilding industry are facing resistance from local fleet owners due to reasons explained in this that hasn't deterred policy makers from finalising the technical specifications for constructing so-called Very Large Gas Carriers (VLGC's) India's oil and gas giant, ONGC Ltd, is scouting for local shipyards to build so-called Platform Supply Vessels that are used to support oil and gas drilling operations along the Nayara Energy is being squeezed from all sides as the latest round of sanctions by the EU on the refiner based in Gujarat has forced a couple of Indian ship owners to back out of contracts for hauling petroleum products along the coastET Infra also reported how the Andhra Pradesh government led by N Chandrababu Naidu facilitated a key captive port facility for the integrated steel plant proposed by ArcelorMittal Nippon Steel India by tweaking the concession agreement for the Kakinada Gateway Port Let us know what stood out most this week and how we can make your infra brief even more insightful.
Economic Times
02-07-2025
- Business
- Economic Times
Suntech Infra Solutions shares to list today. GMP hints at strong listing pop
Delhi's Suntech Infra Solutions is set for a strong NSE SME debut on July 2, with a GMP of Rs 41 over its Rs 86 issue price, signaling a potential 48% listing gain. Suntech Infra Solutions, a Delhi-based construction and equipment rental company, is set to list on the NSE SME platform on July 2, with expectations of a strong listing gain. The IPO saw healthy demand, driven by its position in the B2B infrastructure construction segment and robust financials. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Delhi-based construction and equipment rental player Suntech Infra Solutions is set to list on the NSE SME platform on July 2 with a GMP of Rs 41 over the issue price of Rs 86. This suggests a strong potential listing gain of nearly 48% for investors who received allotments in the Rs 44.39 crore IPO, which closed on June 27, saw a healthy response from institutional and non-institutional investors, anchored by its position in the B2B infrastructure construction segment and solid financials. The public issue comprised a fresh issue of 39.74 lakh shares and an offer for sale of 11.87 lakh Infra operates across core infrastructure verticals — including power, oil and gas, steel, cement, and renewable energy — and has ongoing projects worth Rs 186 crore as of July also boasts an equipment rental order book worth nearly Rs 10.9 crore, highlighting its integrated civil construction FY24, the company clocked Rs 96.25 crore in revenue, with a net profit of Rs 9.25 crore, up 61% from the previous IPO proceeds will be used to fund working capital and purchase new construction equipment to support project a strong order book, proven project delivery record, and expanding demand from both government and private infra sectors, Suntech Infra's debut is expected to mirror the optimism in the SME IPO market, even amid broader market the pre-listing enthusiasm and reasonable valuation, the company may find strong support on the bourses, and investors are keenly watching for a premium listing and sustainable performance in the days ahead.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Borneo Post
06-06-2025
- Business
- Borneo Post
RM5.68 mln S'wak Infra hall project faces delay, ministry steps up monitoring
Rubiah (fourth right) during the on-site briefing. – Ukas photo KUCHING (June 6): Construction of the multi-purpose hall at the Sarawak branch of the Institute for Rural Advancement (Infra) is currently at 60 per cent completion, which is significantly behind its target of 83 per cent. According to the Sarawak Public Communications Unit (Ukas) report, the RM5.68 million project is being closely monitored following the delay, with efforts underway to ensure it is delivered according to schedule. Deputy Minister of Rural and Regional Development, Datuk Rubiah Wang, visited the site recently to assess the situation and receive an on-site briefing from project stakeholders. Implemented by Mindagang Resources Sdn Bhd and supervised by the Special Project Team 2 of the Public Works Department (JKR) Malaysia, the project, which started on December 20, 2023, was initially expected to be completed by August 19 this year. But with just over a year remaining before the new targeted completion date, Rubiah said her ministry is expected to intensify monitoring efforts to address any further delays and bring the project back on track. 'We want every sen spent to bring direct benefit to the people, not just building structures, but creating inclusive and conducive spaces for rural community development,' she said. Among the key facilities being built under the project are a main hall, badminton court, male and female prayer rooms, changing areas, an AV room, lobby, stage, switch room, accessible toilets, and ablution areas. Rubiah said the site visit demonstrated the ministry's commitment to ensuring rural infrastructure projects proceed according to standards and deliver value to local communities. Infra multi-purpose hall project delay Rubiah Wang
The Hindu
02-06-2025
- Business
- The Hindu
People's government is firm in its resolve to rebuild State, realise the dreams of Telangana martyrs: D. Sridhar Babu
Affirming the commitment of the Congress government to rebuild Telangana to realise the dreams of martyrs of Telangana Statehood movement, IT and Industries Minister D. Sridhar Babu has said the Telangana Rising-2047 action plan will propel Telangana's inclusive growth. Speaking at the Telangana Formation Day main ceremony held at the police parade grounds in Karimnagar on Monday (June 2), the Minister said it is our responsibility to cherish the memories and indomitable spirit of the martyrs of Telangana movement, carry forward their legacy and realise their vision. He reiterated that the people's government will support the bereaved families of the Telangana martyrs. He added that the vision document presented by Chief Minister A. Revanth Reddy at the recently held NITI Aayog meeting envisages welfare of poor, progressive policies, development of world-class infrastructure and good governance. The State government has already initiated a string of key initiatives, including the Welfare and Social Justice policy, Green Energy Policy, Infra and Industrial Policy, and Tourism Policy in this direction to position Telangana as a progressive State, he added. 'Our government succeeded in unveiling the growth potential of Telangana at several international fora, including the WEF Davos, thereby attracting huge investments with a thrust on economic growth and job creation,' he said. Mr. Sridhar Babu added that the prestigious global events, including BioAsia-2025, AI Global Summit and Miss World beauty pageant, were organised successfully in Hyderabad. He said the landmark welfare initiatives of the State government such as Indira Mahila Shakti, Maha Lakshmi free travel for women in TGSRTC buses, Rythu Barosa, Rajiv Yuva Vikasam and Bhu Bharati are the hallmarks of the inclusive welfare agenda of the people's government. Karimnagar Collector Pamela Satpathy, Commissioner of Police Gaush Alam and others were present.
Business Standard
29-05-2025
- Business
- Business Standard
Birlasoft Q4 PAT rises 4% QoQ to Rs 122 cr
Birlasoft reported a 4.42% increase in consolidated net profit to Rs 122.11 crore in Q4 FY25, up from Rs 116.94 crore in Q3 FY25. However, revenue from operations decreased 3.36% quarter-on-quarter (QoQ) to Rs 1,316.89 crore in Q4 FY25. As compared to Q4 FY24, the companys consolidated net profit fell 32.19% and revenue declined 3.35%. EBITDA stood at Rs 173.6 crore in Q4 FY25, up 6.2% QoQ but down 21.7% year-on-year (YoY). EBITDA margin improved to 13.2% in Q4 FY25 compared to 12% in Q3 FY25, though it declined from 16.3% in Q4 FY24. In dollar terms, the companys revenue was $152.2 million, registering a decline of 5.4% QoQ and 7.2% YoY. In constant currency terms, revenue declined 5.3% QoQ. The company signed deals with a total contract value (TCV) of $236 million during the quarter, up 4% QoQ, comprising new deal wins worth $112 million and renewals worth $124 million. Active client count stood at 254 in Q4 FY25, down from 265 in Q3 FY25 and 259 in Q4 FY24, reflecting some rationalization of the tail. Cash and cash equivalents rose to $259.5 million at the end of Q4 FY25, compared to $240.1 million at the end of Q3 FY25. In rupee terms, cash and cash equivalents increased to Rs 22,177 million at the end of Q4 FY25 from Rs 20,552 million at the end of the previous quarter. The workforce strength stood at 11,930 as of 31 March 2025, with an attrition rate of 12.8% during Q4 FY25. Angan Guha, chief executive officer and managing director of Birlasoft, said, We are pleased to report a steady year in the face of a soft demand environment owing to sustained macro-economic challenges, with revenue during FY2025 growing 1.8% over the preceding year. We continue to generate consistently strong cashflows. We also saw a noticeable uptick in our deal wins during the second-half of the year under review, with a sequential increase in TCV of deals won during the quarter under review to $236 million led by higher new deals, demonstrating the strength of our pipeline and our ability to pursue deal closures. While our near-term outlook is likely to reflect the impact of shifts in customer priorities, we continue to invest in our capabilities such as generative AI, where we have been early adopters. Kamini Shah, chief financial officer, Birlasoft, said, "Our consolidated revenue during FY25 has grown 1.8% over the preceding year to Rs 53,752 million. Our EBITDA margin performance for the year reflects the investments we have been making in our business as well as higher furloughs, consolidation deals, and growth in the Infra business. For the quarter under review, revenue stood at $152.2 million and the EBITDA margin expanded 119 basis points sequentially to 13.2%. Cash flow from operations during the year and the quarter were 88.3% and 88.1%, respectively, of EBITDA, led by sustained focus on collections. We have ended the year with a robust balance sheet and believe that we are well-positioned to successfully navigate through the prevalent macroeconomic environment." Meanwhile, the companys board has recommended a final dividend of Rs 4 per equity share for the financial year 2024-25, subject to approval by the members at the upcoming Annual General Meeting (AGM) of the company. The date of the AGM will be intimated in due course, and the dividend, if declared by the members, will be paid within the statutory timelines. Further, the companys board has approved that Manjunath Kygonahally, senior management personnel (SMP) and currently chief executive officer for rest of the world (CEO-ROW), will take on an additional role as Global Head of Strategic Growth Initiatives, effective 28 May 2025. He will be designated as CEO-ROW and Global HeadStrategic Growth Initiatives. Birlasoft, part of the CK Birla Group, provides digital and information technology consulting, services, solutions and products for organizations across industries worldwide. The counter shed 0.77% to Rs 420.05 on the BSE.
