Latest news with #PradhanMantriAwasYojna
Economic Times
30-07-2025
- Business
- Economic Times
PVC pipes, fittings manufacturing companies to see recovery this fiscal: Crisil Ratings
Agencies Representative image After a flattish revenue growth last financial year, Polyvinyl chloride (PVC) pipes and fittings manufacturing companies will see a recovery this fiscal led by robust demand from end-user segments and a more stable price environment, according to Crisil Ratings. Improved profitability and easing inventory levels will also reduce their working capital requirements and afford room to expand capacities without stressing balance sheets, the statement said. "Demand for PVC pipes and fittings has remained robust in recent times driven by government schemes such as Jal Jeevan Mission and Pradhan Mantri Awas Yojna, which focus on the water supply, sanitation and housing segments. "What has changed is the government more than doubled budgetary allocation this fiscal, on-year, for these schemes, which can drive up the requirement of PVC pipes and fittings even more," Crisil Ratings Director Himank Sharma said. This will lead to reduction in manufacturers' high-cost inventory as dealers begin restocking channels and partly wipe out a 130 basis points' decline in operating margin last fiscal. Demand from irrigation and water supply projects, contributing close to three-fourths of the sectoral revenues, is seen remaining strong, given the government's push in these sectors. Replacement and new demand from the real estate sector will also contribute, though moderate as compared with the past few fiscals, as fresh project launches are expected to reduce. PTI
Time of India
24-07-2025
- Business
- Time of India
PVC pipes, fittings manufacturing companies to see recovery this fiscal: Crisil Ratings
After a flattish revenue growth last financial year, Polyvinyl chloride (PVC) pipes and fittings manufacturing companies will see a recovery this fiscal led by robust demand from end-user segments and a more stable price environment, according to Crisil Ratings . Improved profitability and easing inventory levels will also reduce their working capital requirements and afford room to expand capacities without stressing balance sheets, the statement said. Explore courses from Top Institutes in Please select course: Select a Course Category Healthcare Data Science Design Thinking Project Management Leadership others healthcare MCA Data Analytics Cybersecurity Public Policy Finance PGDM CXO Technology Digital Marketing Data Science Operations Management Artificial Intelligence Product Management Others Degree MBA Management Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details "Demand for PVC pipes and fittings has remained robust in recent times driven by government schemes such as Jal Jeevan Mission and Pradhan Mantri Awas Yojna, which focus on the water supply , sanitation and housing segments. "What has changed is the government more than doubled budgetary allocation this fiscal, on-year, for these schemes, which can drive up the requirement of PVC pipes and fittings even more," Crisil Ratings Director Himank Sharma said. This will lead to reduction in manufacturers' high-cost inventory as dealers begin restocking channels and partly wipe out a 130 basis points' decline in operating margin last fiscal. Live Events Demand from irrigation and water supply projects , contributing close to three-fourths of the sectoral revenues, is seen remaining strong, given the government's push in these sectors. Replacement and new demand from the real estate sector will also contribute, though moderate as compared with the past few fiscals, as fresh project launches are expected to reduce. PTI
New Indian Express
08-07-2025
- Health
- New Indian Express
Srinagar Diary: Telemedicine services for Amarnath yatris
Telemedicine services for Amarnath yatris For the first time, Amarnath pilgrims will receive high-altitude telemedicine services during the 38-day yatra to the Himalayan cave shrine in South Kashmir, which began on July 3. It's a joint venture between ISRO and the Directorate of Health Services of Kashmir to enhance real-time specialist healthcare in the challenging mountainous terrain. These facilities are operational at the Yatra Base Hospitals of Baltal and Panjtarni. This system links doctors stationed in remote locations on the twin Yatra routes with medical specialists in larger hospitals, enabling quicker treatment, especially during emergencies. Homes for five lakh homeless in J&K About five lakh homeless people in Jammu and Kashmir would get homes under the Prime Minister's Awas Yojana, Union Agriculture Minister Shivraj Singh Chouhan announced during his visit to Srinagar last week. He said 93 per cent of houses sanctioned under PM Awas Yojana in J&K have been completed. He said a survey pegged the state's homeless population at five lakh, and allotments will begin after the verification process is completed. Lt Governor Manoj Sinha had in July 2023 announced five marlas of land to landless families for constructing their houses under the Pradhan Mantri Awas Yojna. Helplines for terrorism-affected persons After Lt Governor Manoj Sinha's announcement to notify toll-free numbers for the assistance of families victimised by terrorism, police have established Grievance Cells/Helplines in all 10 districts in the Valley. The victims or their kin can use the helplines to register their grievances. According to government figures, over 40,000 people, including civilians, security personnel and children, have lost their lives in J&K since 1990. Sinha has directed Deputy Commissioners and SSPs in the Valley to reopen militancy and terrorism cases that were 'deliberately' buried and file fresh FIRs. The LG also directed officials to free property and land of terrorism-affected families. Fayaz wani Our correspondent in Jammu and Kashmir fayazwani123@
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Business Standard
02-07-2025
- Business
- Business Standard
Affordable housing launches to remain muted despite rate cuts, tax benefits
While demand for sub ₹50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors Prachi Pisal Gulveen Aulakh Mumbai/ New Delhi Listen to This Article Affordable housing supply across India is likely to remain muted in the coming quarters despite the repo rate cut of 100 basis points since February, income tax-related benefits announced in this year's Budget and the extension of Pradhan Mantri Awas Yojna (PMAY), according to industry executives and sector watchers. While demand for sub ₹50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors. Some like Mahindra Lifespaces are moving out of the segment, while others are reducing their share of the housing portfolio dedicated to affordable housing. 'The viability of
Mint
11-06-2025
- Business
- Mint
Affordable housing financiers get a RBI rate cut boost. But it may not last.
NEW DELHI : Affordable housing finance companies (HFC) are back in vogue since the Reserve Bank of India's (RBI) surprise 50-basis-point rate cut on 6 June. Their stocks rose around 6-7% in the last two trading days, before the broader financial services sector gave up most of its gains on Tuesday. It's because in a low-interest rate regime, affordable HFCs are likely to offer better returns compared to prime or super prime lenders, according to experts. 'The affordable space is niche and relatively less competitive, as there are no banks present in that segment," Anusha Raheja, research analyst at Dalal & Broacha Stock Broking Pvt. Ltd told Mint. 'Hence, they will face lower NIM (net interest margin) pressures compared to the prime or super prime segments going ahead." Nonetheless, Harsh Madhusudan Gupta, manager of Ionic Asset's PIPE fund, said the RBI's latest policy move should benefit most HFCs in general. 'It should be incrementally accretive for their earnings per share and book value per share estimates, despite the fact that the move is to some extent just front-loading the overall rate cuts." Catering to prime or super-prime borrowers puts housing financiers in direct competition with banks, given that this is a relatively safer lending pool. Now that the RBI has slashed the repo rate to 5.5%, banks will also reduce their repo-linked home loan interest rates soon, compelling HFCs to follow suit even if their borrowing costs don't fall immediately. This will likely squeeze the profitability of prime and super prime HFCs a bit harder, Raheja added. Affordable housing financiers' funding costs are high and they charge higher interest as they have a riskier borrower profile and lower quality of collateral. But since the National Housing Bank subsidizes most of their funding costs, they end up earning higher margins and higher return on their assets. The government nudge Moreover, the government's credit-linked subsidy scheme reduces borrowers' liabilities by subsidizing the principal portions of their loans. This reduces the credit risk for lenders, making the overall business model profitable. The Union government announced the Pradhan Mantri Awas Yojna (PMAY) 2.0 in its 2025 budget to provide 20 million additional houses to the poor in the next five years. With renewed impetus from the government and the RBI's latest monetary policy move, the market now has enough liquidity to boost home loan volumes at a much faster pace in 2025-26. "The affordable and mid-income housing segments are highly rate-sensitive, and borrowers here are quick to respond to lower EMIs," said Atul Monga, chief executive and co-founder of BASIC Home Loan, a fintech company offering home loans to semi-urban and under-served borrowers. 'With the repo rate cut translating into reduced home loan (interest) rates, we anticipate stronger traction in affordable housing loans compared to corporate or prime segments," he added. Weak housing demand However, experts also caution against an over estimation of incremental housing demand in response to the latest monetary policy actions, as residential housing demand has already been growing at a solid pace so far. 'Affordable HFCs have been growing at 30%-plus growth rates. I doubt if they will start growing at 40% after the rate cuts," Dalal & Broacha's Raheja said. Apart from slashing interest rates to 5.5%, the RBI cut cash reserve ratio (CRR) by 100 basis points to 3%, which is expected to infuse an additional ₹2.5 trillion in the economy. While this will partly offset NIM pressures arising from the latest repo rate cut and help in faster monetary policy transmission to the credit market, residential housing demand is likely to normalize on a high base, said Tanvee Gupta Jain, chief India economist at UBS. 'That said, we think the housing demand cycle could be extended based on mortgage rate cuts and improved consumer sentiment," she added. However, Raheja noted that mortgage rate cuts might not always translate to commensurately higher loan volumes, as job security and income growth also remain key deciding factors in availing home loans, particularly for the poor. To be sure, wage growth in urban India has been in a slow lane for a while now. Wage bill growth of BSE 500 companies was stuck between 4-6% year-on-year throughout 2024-25, against a 12% on-year rise in 2023-24, said a recent Nuvama Institutional Equities report. IIFL Finance gets leg up But as the market largely ignores any demand concerns for now, IIFL Finance emerged as an outperformer among all major non-banking financial companies (NBFCs), rising almost 7% in the last three days. Majority of IIFL's loan book is secured, comprising housing (40%) and gold loans (27%), and until recently its stock was trading at substantial discount to its peers. This was mainly because the RBI had imposed a ban on its gold loan business back in March 2024, citing governance issues in the company. Even though the ban was lifted in September 2024, its stock price did not react sharply to the development back then. Experts believe the RBI's latest monetary policy decisions might have triggered a potential re-rating of the stock.
