Latest news with #KMP
Time of India
3 days ago
- Business
- Time of India
Adani Energy Solutions to raise Rs 4,300 cr via share sale
Adani Energy Solutions will seek to raise Rs 4,300 crore through a qualified institutional placement (QIP) or other permissible method as per applicable laws. The company said in a regulatory filing on Saturday that the fundraise will be done in one or more tranches, subject to getting necessary approvals, including from the company's shareholders. This fiscal year, Adani Energy plans to spend Rs 16,000-18,000 crore in capital expenditure, up from last year's spending of Rs 11,444 crore. Of the total, it will invest Rs 12,000-13,000 crore in transmission, Rs 4,000 crore in smart meters, and Rs 1,600 crore in distribution. On Saturday, the company also redesignated Kandarp Patel, chief executive officer (CEO)-KMP, as an additional director and whole-time director & CEO (KMP) of the company for a three-year period effective May 31. The company also appointed Hemant Nerurkar and Amiya Chandra as additional directors (non-executive and independent) on the board for a similar three-year period. Live Events
Business Standard
4 days ago
- Business
- Business Standard
Beyond the Borders: How Sonipat's Metro and Mega-Projects Are Redefining NCR Real Estate
NewsVoir Sonipat (Haryana) [India], May 31: Long seen as an industrial backyard of Delhi, Sonipat is rewriting its identity as one of the promising real estate frontiers in NCR. Located just 20 km from the capital, this Haryana town is now riding a powerful wave of infrastructure-driven growth. With expressways, metro extensions, and industrial mega-projects converging, Sonipat today echoes the early transformation stories of Gurugram and the more recent boom along the Dwarka Expressway. Strategic location, affordability, and a forward-looking master plan are together turning Sonipat from a peripheral player into a key growth engine in NCR's real estate landscape. The Expressway Web Connecting Sonipat to NCR & Beyond A layer of infrastructure is quietly but decisively pulling Sonipat into the NCR mainstream. The UER-II stretching from IGI Airport to Alipur with a dedicated spur to Sonipat is slated for completion by June 2025, and will stitch the city directly into Delhi's expressway circuit. Already in place is the Western Peripheral Expressway (KMP), giving Sonipat a smooth link to Palwal and other industrial zones. Meanwhile, the Eastern Peripheral Expressway (EPE) begins at Kundli and now extends via a fresh 11-km spur to the Yamuna Expressway. Together, these corridors form a strategic expressway web, connecting Sonipat effortlessly to Noida, Gurugram, Faridabad, IGI Airport, and even Jewar. Hence, the connectivity repositions Sonipat from a quiet neighbour to a central player in NCR's growth map. Next-Gen Connectivity: Metro, RRTS, and Freight Corridors Sonipat is stepping into a new era of connectivity, driven by transformative rail, metro, and freight infrastructure. On March 25, 2025, the Ministry of Housing and Urban Affairs gave in-principle approval for the much-anticipated extension of Delhi Metro's Yellow Line from Samaypur Badli to Nathupur in Sonipat. In response, DMRC initiated the Detailed Project Report (DPR), examining the technical and financial roadmap. Part of Delhi Metro's Phase IV, the 26.5 km stretch will add 21 stations and is expected to serve around 50,000 daily commuters, cutting travel times, decongesting roads, and connecting key residential, industrial, and commercial zones. With Haryana committing 80% of the funding and the Centre covering the rest, the project is moving through crucial stages like land acquisition and topographical surveys. Gurpal Singh Chawla, Managing Director, TREVOC Group, says, "Peripheral areas of NCR have gone beyond the label of satellite towns. Tier 2 cities of Haryana, like Sohna, Sonipat, Panipat, Kundli, Karnal, and more, are becoming the talk of the town in terms of the growth they project. While Sohna is becoming a key node on the Delhi-Mumbai Industrial Corridor, propelled by the Gurugram-Sohna Elevated Road and the proposed metro extension, Sonipat is preparing for a game-changing metro link to Delhi and direct access via the UER-II. Meanwhile, Panipat is on the cusp of transformation with the Delhi-Panipat RRTS slashing travel time significantly. These aren't isolated upgrades; they're stitching together a new growth arc that's giving the region a new face where people can live, work, and invest across NCR." Meanwhile, on the regional transport front, the Delhi-Sonipat-Panipat RRTS corridor promises to slash travel time to under an hour, offering fast, reliable intercity movement. Sonipat also finds itself strategically placed on the Dedicated Freight Corridor and within the Delhi-Mumbai Industrial Corridor's Phase II-A under the KSIR zone, aligning the city with India's national logistics backbone via the KMP and NH-44. Together, these projects don't just improve access; they position Sonipat as a vital, future-ready hub at the intersection of mobility and growth. Sonipat Master Plan 2031 Sonipat's growth is being carefully mapped out through the Sonipat Master Plan 2031 that charts the city's evolution across 20,220 hectares, divided into 92 well-planned sectors. Of this, 7,092 hectares are earmarked for residential use, 4,940 hectares for industrial development, and 606 hectares for commercial zones, striking a balance between liveability and economic activity. Wide 65-metre roads, upcoming transit hubs, green belts, and eco-buffer zones reflect a modern approach to city-making, rooted in sustainability. Much like Noida or Navi Mumbai in their formative years, Sonipat is embracing greenfield urbanism, with infrastructure laid out ahead of demand. Honeyy Katiyal, Founder, Investors Clinic Infratech Pvt Ltd, says, "Beyond connectivity, Sonipat's growth also lies in its industrial surge. Driven by the Rs 18,000-crore Maruti Suzuki plant and the development push under the Delhi-Mumbai Industrial Corridor, the region is turning into an economic engine, introducing a structural growth in the city. When industries move in, jobs follow, and with that comes the sustained demand for housing, retail, and commercial infrastructure. Reputed developers like Godrej Properties, Hero Realty, Eldeco Group, and more have started their expansion into the Sonipat market. This demand positions the region as a self-sufficient growth centre, and those who invest now, we believe, could ride a long-term upward curve in both value and demand." Real Estate Growth: Land Prices, Demand & Developer Action Amidst the developments, Sonipat's real estate market is riding a wave of investor confidence, driven by infrastructure upgrades, industrial momentum, and rising end-user demand. As per data from 99 acres and MagicBricks, land prices in Kundli have surged by 190% between 2020 and 2025, with current rates hovering around Rs61,216 per sq yd. Projections suggest a potential 3x jump by 2030, making Sonipat one of the most promising emerging destinations in NCR. Mr. Akshay Taneja, MD, TDI Infratech Ltd. says, "For homebuyers, connectivity is one of the prominent aspects when choosing where to live. Easy access to public transport saves time and adds everyday convenience -- and that's a huge value-add. Hence, metro line extensions have such a strong impact on real estate, especially in Kundli and the broader Sonipat region. With construction beginning on the metro line, Kundli is set for a major upswing, particularly among North Delhi residents looking for better value without compromising on access. Further, upcoming developments like the RRTS are changing the game for the region and promise to slash commute times to Gurgaon and Noida to under an hour. Moreover, the connectivity offered by the Delhi-Mumbai Industrial Corridor (DMIC) has turned Sonipat into a growth hub. Therefore, as demand rises, so do property values. TDI City Kundli, with its 1,100-acre expanse, stands to benefit significantly as residential demand surges. Hence, we're expecting a strong wave of interest as people look to lock in homes ahead of the price escalation." The Decade of Sonipat (2020-2030) In 2020, Sonipat was still under the radar, offering affordable land and untapped potential. From 2023-25, it has rapidly evolved; metro and RRTS projects are in motion, expressways are becoming operational, and industrial giants like Maruti Suzuki have made their bets. By 2030, as per Colliers, land values are projected to triple, marking Sonipat's arrival as a fully integrated urban hub. Thus, with infrastructure, industry, and investment aligning, the incoming growth belongs to Sonipat.
Fashion Value Chain
4 days ago
- Business
- Fashion Value Chain
Beyond the Borders: How Sonipat's Metro and Mega-Projects Are Redefining NCR Real Estate
Long seen as an industrial backyard of Delhi, Sonipat is rewriting its identity as one of the promising real estate frontiers in NCR. Located just 20 km from the capital, this Haryana town is now riding a powerful wave of infrastructure-driven growth. With expressways, metro extensions, and industrial mega-projects converging, Sonipat today echoes the early transformation stories of Gurugram and the more recent boom along the Dwarka Expressway. Strategic location, affordability, and a forward-looking master plan are together turning Sonipat from a peripheral player into a key growth engine in NCR's real estate landscape. How Sonipat's Metro and Mega-Projects Are Redefining NCR Real Estate The Expressway Web Connecting Sonipat to NCR & Beyond A layer of infrastructure is quietly but decisively pulling Sonipat into the NCR mainstream. The UER-II stretching from IGI Airport to Alipur with a dedicated spur to Sonipat is slated for completion by June 2025, and will stitch the city directly into Delhi's expressway circuit. Already in place is the Western Peripheral Expressway (KMP), giving Sonipat a smooth link to Palwal and other industrial zones. Meanwhile, the Eastern Peripheral Expressway (EPE) begins at Kundli and now extends via a fresh 11-km spur to the Yamuna Expressway. Together, these corridors form a strategic expressway web, connecting Sonipat effortlessly to Noida, Gurugram, Faridabad, IGI Airport, and even Jewar. Hence, the connectivity repositions Sonipat from a quiet neighbour to a central player in NCR's growth map. Next-Gen Connectivity: Metro, RRTS, and Freight Corridors Sonipat is stepping into a new era of connectivity, driven by transformative rail, metro, and freight infrastructure. On March 25, 2025, the Ministry of Housing and Urban Affairs gave in-principle approval for the much-anticipated extension of Delhi Metro's Yellow Line from Samaypur Badli to Nathupur in Sonipat. In response, DMRC initiated the Detailed Project Report (DPR), examining the technical and financial roadmap. Part of Delhi Metro's Phase IV, the 26.5 km stretch will add 21 stations and is expected to serve around 50,000 daily commuters, cutting travel times, decongesting roads, and connecting key residential, industrial, and commercial zones. With Haryana committing 80% of the funding and the Centre covering the rest, the project is moving through crucial stages like land acquisition and topographical surveys. Gurpal Singh Chawla, Managing Director, TREVOC Group, says, 'Peripheral areas of NCR have gone beyond the label of satellite towns. Tier 2 cities of Haryana, like Sohna, Sonipat, Panipat, Kundli, Karnal, and more, are becoming the talk of the town in terms of the growth they project. While Sohna is becoming a key node on the Delhi-Mumbai Industrial Corridor, propelled by the Gurugram-Sohna Elevated Road and the proposed metro extension, Sonipat is preparing for a game-changing metro link to Delhi and direct access via the UER-II. Meanwhile, Panipat is on the cusp of transformation with the Delhi-Panipat RRTS slashing travel time significantly. These aren't isolated upgrades; they're stitching together a new growth arc that's giving the region a new face where people can live, work, and invest across NCR.' Meanwhile, on the regional transport front, the Delhi-Sonipat-Panipat RRTS corridor promises to slash travel time to under an hour, offering fast, reliable intercity movement. Sonipat also finds itself strategically placed on the Dedicated Freight Corridor and within the Delhi-Mumbai Industrial Corridor's Phase II-A under the KSIR zone, aligning the city with India's national logistics backbone via the KMP and NH-44. Together, these projects don't just improve access; they position Sonipat as a vital, future-ready hub at the intersection of mobility and growth. Sonipat Master Plan 2031 Sonipat's growth is being carefully mapped out through the Sonipat Master Plan 2031 that charts the city's evolution across 20,220 hectares, divided into 92 well-planned sectors. Of this, 7,092 hectares are earmarked for residential use, 4,940 hectares for industrial development, and 606 hectares for commercial zones, striking a balance between liveability and economic activity. Wide 65-metre roads, upcoming transit hubs, green belts, and eco-buffer zones reflect a modern approach to city-making, rooted in sustainability. Much like Noida or Navi Mumbai in their formative years, Sonipat is embracing greenfield urbanism, with infrastructure laid out ahead of demand. Honeyy Katiyal, Founder, Investors Clinic Infratech Pvt Ltd, says, 'Beyond connectivity, Sonipat's growth also lies in its industrial surge. Driven by the Rs 18,000-crore Maruti Suzuki plant and the development push under the Delhi-Mumbai Industrial Corridor, the region is turning into an economic engine, introducing a structural growth in the city. When industries move in, jobs follow, and with that comes the sustained demand for housing, retail, and commercial infrastructure. Reputed developers like Godrej Properties, Hero Realty, Eldeco Group, and more have started their expansion into the Sonipat market. This demand positions the region as a self-sufficient growth centre, and those who invest now, we believe, could ride a long-term upward curve in both value and demand.' Real Estate Growth: Land Prices, Demand & Developer Action Amidst the developments, Sonipat's real estate market is riding a wave of investor confidence, driven by infrastructure upgrades, industrial momentum, and rising end-user demand. As per data from 99 acres and MagicBricks, land prices in Kundli have surged by 190% between 2020 and 2025, with current rates hovering around â¹61,216 per sq yd. Projections suggest a potential 3x jump by 2030, making Sonipat one of the most promising emerging destinations in NCR. Mr. Akshay Taneja, MD, TDI Infratech Ltd. says, 'For homebuyers, connectivity is one of the prominent aspects when choosing where to live. Easy access to public transport saves time and adds everyday convenience – and that's a huge value-add. Hence, metro line extensions have such a strong impact on real estate, especially in Kundli and the broader Sonipat region. With construction beginning on the metro line, Kundli is set for a major upswing, particularly among North Delhi residents looking for better value without compromising on access. Further, upcoming developments like the RRTS are changing the game for the region and promise to slash commute times to Gurgaon and Noida to under an hour. Moreover, the connectivity offered by the Delhi-Mumbai Industrial Corridor (DMIC) has turned Sonipat into a growth hub. Therefore, as demand rises, so do property values. TDI City Kundli, with its 1,100-acre expanse, stands to benefit significantly as residential demand surges. Hence, we're expecting a strong wave of interest as people look to lock in homes ahead of the price escalation.' The Decade of Sonipat (2020-2030) In 2020, Sonipat was still under the radar, offering affordable land and untapped potential. From 2023-25, it has rapidly evolved; metro and RRTS projects are in motion, expressways are becoming operational, and industrial giants like Maruti Suzuki have made their bets. By 2030, as per Colliers, land values are projected to triple, marking Sonipat's arrival as a fully integrated urban hub. Thus, with infrastructure, industry, and investment aligning, the incoming growth belongs to Sonipat.
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Business Standard
6 days ago
- Business
- Business Standard
L&T board pay jumps two-fold in FY25, employee headcount shrinks 1.4%
Larsen & Toubro's (L&T's) board of directors saw a two-fold jump in remuneration in the financial year 2024-25 (FY25), with median pay rising to ₹27.6 crore from ₹13.6 crore the previous year, the company's annual report shows. The number of directors in FY25 reduced from seven to six. The median remuneration for key managerial personnel (KMP) rose 7.7 per cent to ₹1.85 crore, with one executive listed under this category. L&T's total employee count, excluding the board and KMP, declined by 1.4 per cent to 56,458. However, the number of women employees rose 11.5 per cent to 4,965, while male employees declined 2.48 per cent to 51,493. The median salary for male staff increased 15.6 per cent to ₹11.29 lakh, while that for female staff rose 5.6 per cent to ₹7.1 lakh. The company employed 2,091 permanent workers in FY25, up 0.57 per cent from the previous year. This included 2,084 male and 7 women workers. The median wage for male workers declined by 3.8 per cent to ₹9.4 lakh, while the median wage for women workers rose 11.1 per cent to ₹13.57 lakh. Total staff expenses rose 13.6 per cent year-on-year to ₹46,769 crore in FY25, the company said, reflecting a combination of manpower ramp-up and salary revisions. Staff cost as a percentage of revenue declined by around 30 basis points, supported by higher topline growth. 'The group continues to focus on productivity improvements, digitalisation and manpower optimisation across its businesses,' the company said. The board-level pay hike comes amid a strong operational performance for the group. Order inflows for the year reached ₹3.57 trillion, up 18 per cent year-on-year, led by wins in infrastructure and energy. International orders, driven by sustained capex activity in the Gulf region, outpaced domestic wins for the second straight year. The company's order book crossed Rs 5 trillion during the year, closing at ₹5.79 trillion, a 22 per cent increase from the previous year. International orders now make up 46 per cent of the total order book. L&T posted revenues of ₹2.56 trillion in FY25, marking a 16 per cent growth. For the full year ended March 2025, the engineering conglomerate reported a net profit of ₹15,037 crore, up 15.1 per cent Y-o-Y. 'The global economic landscape remains unpredictable, shaped by rising policy uncertainties. Our company is closely monitoring these developments, especially given that a substantial part of our group's business originates outside India,' said SN Subrahmanyan, chairman and managing director in the annual report.
Time of India
22-05-2025
- Business
- Time of India
Q4 Loss at ₹2.3k Crore: IndusInd Trips on Lapses, Ends in Red
IndusInd Bank said it is probing key management personnel (KMP) for 'wrongful accounting practices' that could amount to fraud, as the Hinduja-promoted lender reported a net loss of ₹2,328 crore in the fourth quarter of FY25, against net profit of ₹2,349 crore a year ago. For FY25, the bank reported a 71% fall in net profit to ₹2,575 crore, as it absorbed the entire financial impact of derivatives-related accounting lapses and underreporting of microfinance bad loans, seeking to start FY26 with a clean slate. In regulatory filings on Wednesday, the bank said investigations into its accounts showed that the top management that exited the company under suspicious circumstances may have committed accounting fraud, misled the board of directors, and hid the truth from auditors to present a rosy picture. The bank said board-commissioned probes 'revealed an involvement of senior bank officials, including former KMPs, in overriding key internal controls.' They also showed 'a concealment from the board and the statutory auditors of the wrongful accounting practices adopted, over such period of time, as indicated in the… investigation/ review reports.' IndusInd said 'there is likely involvement of senior management in the matters' and that it had 'reason to believe that suspected offences involving fraud may have been committed.' The observations were part of the auditors' report filed along with the earnings of the bank. The auditors of the bank are MSKA & Associates and Chokshi & Chokshi LLP. The auditors have referred the suspected fraudulent actions of the past management to the government, which may lead to criminal prosecution. Chairman Sunil Mehta said IndusInd Bank's balance sheet remains healthy after absorbing all the negative charges, with a capital adequacy ratio of 16.24%, a provision coverage ratio of 70%, and a liquidity coverage ratio at 139% in the first half of this quarter. 'The financial impact of all the above has been fully taken in the audited financial statements for FY25. The approach toward financials has been to start FY26 on a clean slate, without carrying forward any issues,' Mehta told analysts soon after announcing the results. 'The bank has thoroughly reviewed all the lines of accounting and has taken a conservative view in some of the accounting treatments. This has reflected in a few one-offs versus the business-as-usual run rate,' he added. The chairman also said the bank will not wait for the new chief executive to join and act on the lapses, while acknowledging that these were not expected from a bank like IndusInd. He said the matter of likely fraud has been reported to the relevant government agency. 'The board has also taken a very serious view with respect to staff accountability across levels to reinforce the governance and compliance culture, and is in the process of taking action for staff accountability,' said Mehta. Erstwhile managing director and chief executive Sumant Kathpalia and deputy CEO Arun Khurana, who were designated as KMP for the period under review, resigned late last month. Mehta said IndusInd is in the process of identifying a new chief executive within the June 30 deadline stipulated by the Reserve Bank of India (RBI). The board had commissioned investigations regarding forex derivatives transactions of Rs 1,960 crore, incorrect interest income of Rs 673.8 crore and fee income of Rs 172.6 crore, apart from certain incorrect manual entries posted in the 'other assets' and 'other liabilities' of the previous year, amounting to Rs 595 crore.
