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India.com
21-05-2025
- Business
- India.com
After burning cash on big projects, this Ratan Tata company is facing penalties like Rs 10 Lakh per day for…, now planning to go…
Tata Projects had recorded profits in 2020-21 but now incurring losses due to project delays and over-costing. To tackle this problem the company is now shifting focus to projects which can be completed in a shorter time span. It will help them to earn profit and revenue growth by FY26. Tata Projects used to handle high-profile projects like India's new Parliament building, the Mumbai trans harbour link, and the upcoming Noida airport. But due to project delays and high cost the management has decided to focus on shorter-duration projects which can give profitability. In 2024-25, Tata Projects incurred a consolidated net loss of Rs 696.57 crore that's it's consolidated net profit of Rs 81.97 crore in FY24, It's revenue also declined 1.63% to Rs 17,470.59 crore. In FY26 the company is planning to earn double-digit revenue growth. 'The game for Tata Projects would now be short-duration and fast- track projects that could be executed in a 12-24 month period,' said Vinayak Pai, managing director and chief executive of Tata Projects, in an exclusive interview to Mint. Tata Projects Challenges Tata Projects has promised a June 30 deadline for Noida International Airport. The construction firm is trying to bring in additional resources from other sites, according to a report of the Times of India. The company is also facing penalties for the delaying construction of the airport. Since January 1, the Uttar Pradesh government has been imposing a daily fine of Rs 10 lakh on Yamuna International Airport Private Ltd (YIAPL). YIAPL has penalized Tata Projects for construction delays. 'We are augmenting our team with workers from nearby projects. Every possible measure is being taken to complete the airport by June 30,' a Tata official said, according to a media report.
Time of India
02-05-2025
- Business
- Time of India
Facing penalties, Tata Projects promises to make Noida International Airport ready in two months with 2,000 extra workers
Facing penalties, Tata Projects has promised June 30 deadline for Noida International Airport . The construction firm is ramping up its efforts by bringing in additional manpower and resources from other sites, according to a report of the Times of India. #Pahalgam Terrorist Attack India's Rafale-M deal may turn up the heat on Pakistan China's support for Pakistan may be all talk, no action India brings grounded choppers back in action amid LoC tensions Notably, the company is facing penalties for the delay in construction of the airport. Since January 1, the Uttar Pradesh government has been imposing a daily fine of Rs 10 lakh on Yamuna International Airport Private Ltd (YIAPL), the concessionaire, which is being deducted from their performance security. YIAPL, in turn, has penalized Tata Projects for construction delays. Originally slated for completion by September 29, 2024, the airport's timeline has been revised several times. The latest plan targeted domestic flight operations by May 15 and international services by June 25 — a full year behind the initial schedule. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Breaks His Silence: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Tata's catch-up plan During a high-level review chaired by Uttar Pradesh chief secretary Manoj Kumar Singh on Wednesday, Tata Projects presented a catch-up plan to recover from recent delays that led to multiple missed deadlines. Officials said the company plans to deploy an additional 2,000 workers from other ongoing projects to support the existing 6,500-strong workforce, which had temporarily declined during the harvest season. Live Events 'We are augmenting our team with workers from nearby projects. Every possible measure is being taken to complete the airport by June 30,' a Tata official said. Arun Vir Singh, CEO of Noida International Airport Ltd (NIAL) — the state government's special purpose vehicle overseeing the project — reported that the terminal building's construction is progressing steadily. The domestic passenger section is nearly complete, while work on the international section's upper-level roof is underway. 'Tata has committed to completing the remaining terminal work within the next two months,' Singh added. The project is approximately 90% physically complete. The runway and airside infrastructure are nearly finished, while the passenger terminal building is at about 85%. Ten aerobridges, along with baggage systems, elevators, and signage, have already been installed. The domestic terminal is nearly ready; the international section stands at roughly 75%, pending final installations like imported textile panels currently being fabricated in Mumbai. However, challenges remain. The water and sewage treatment plants are only 40-43% complete after two contractors withdrew. Officials are now considering alternative options to avoid operational setbacks. A key milestone is scheduled for May 10, when a joint team from the Airports Authority of India (AAI), Directorate General of Civil Aviation ( DGCA ), and Bureau of Civil Aviation Security (BCAS) will assess the airport's readiness for aerodrome licensing. This inspection aligns with the end of a 70-day aeronautical information publication (AIP) period that began in mid-March. BCAS has indicated it will require 45 days from the receipt of all necessary documentation to issue a security clearance. In the event of a partial terminal opening, a structural stability certificate will also be required. According to officials, the DGCA has outlined three possible operational scenarios: launching cargo services by May 15, allowing partial passenger operations, or achieving full Phase 1 readiness. 'If the inspection team gives a green signal, it will be a major step toward launching airport operations,' Singh said. 'The government — likely the chief minister and prime minister — will decide the date for commercial flights. But we're aiming to have the airport itself ready, potentially even before June 30.' 'Construction teams are working around the clock. We hope to meet the June 30 deadline — the third one set so far,' an NIAL official told the Times of India.
Time of India
01-05-2025
- Business
- Time of India
Noida airport won't be third time lucky, set to miss May 15 deadline
Noida International Airport will not meet its third official deadline of May 15, originally set by chief minister Yogi Adityanath , with the terminal building unlikely to be ready in time, ToI reported. Although there is no official announcement on a new date, sources said the launch was not expected in the next two months. #Pahalgam Terrorist Attack Nuclear Power! How India and Pakistan's arsenals stack up Does America have a plan to capture Pakistan's nuclear weapons? Airspace blockade: India plots a flight path to skip Pakistan The airport is currently one year behind schedule. Its original target date was September 29, 2024, which was first revised to April 17, 2025. After that, the date for domestic flight operations was set for May 15 and international operations for June 25. However, these too now seem unlikely, as key construction work remains unfinished. Since January 1, the Uttar Pradesh government has imposed a penalty of Rs 10 lakh per day on concessionaire Yamuna International Airport Private Limited (YIAPL) for delays in completing the project. On Tuesday, chief secretary Manoj Kumar Singh inspected the site in Jewar and held discussions with officials from YIAPL, Tata Projects Limited and Noida International Airport Limited (NIA). Singh is expected to conduct a stakeholder meeting soon to define a new completion timeline and will submit a comprehensive report within 15 days. GIF89a����!�,D; 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Husband Calls the Police after Discovering the Shocking Truth About His Wife's Dog Obsession Happy in Shape During a recent meeting, the chief minister called for all stakeholders to act with urgency. Senior officials were instructed to hold regular review meetings and speak directly with the chairman of Tata Sons to ensure accountability at the highest level. While an official update on the current construction status was not shared, data till March 10 showed that the overall physical progress was at 80%. The runway and related airside infrastructure were 90% complete and expected to be ready by April. The passenger terminal building was also 80% complete, but steel roofing and internal finishing were still ongoing. The water and sewage treatment plants were only 40% complete and considerably behind schedule. Live Events You Might Also Like: CIDCO reviews progress of Navi Mumbai airport The Air Traffic Control (ATC) building was scheduled for completion by March 31. However, the commissioning of Communication, Navigation and Surveillance / Air Traffic Management (CNS/ATM) systems by the Airports Authority of India (AAI) was only expected by April 30. Officials earlier told the chief minister that the non-issuance of the aerodrome licence from the Directorate General of Civil Aviation ( DGCA ), coupled with ongoing construction delays, was a major hurdle to launching flight operations by April 30. During a DGCA review meeting on March 5, AAI had informed that only limited ATC functionality could be made available for inspection after April 30. The Bureau of Civil Aviation Security (BCAS), which reviewed key safety documentation including the bomb threat contingency plan, anti-hijack contingency plan, and the airport security programme, had raised observations that required compliance. BCAS stated it would need 45 days after receiving responses to issue security clearance. In case of a partial terminal opening, a structural stability certificate would also be required. At the same DGCA meeting, YIAPL was asked to submit detailed operational scenarios, considering that the terminal and cargo apron were not yet finished. Based on those discussions, the DGCA advised YIAPL to finish all remaining tasks mentioned in the draft Aeronautical Information Publication (AIP) Supplement and ensure complete preparedness by April 15. The DGCA also presented three options for making the airport operational: starting only cargo operations by May 15, launching limited passenger services using a portion of the terminal, or achieving full Phase 1 readiness. Sources said that once the airport becomes functional, it is expected to adopt the phased model recommended by DGCA—beginning with domestic and cargo flights and expanding to international operations later. (with ToI inputs)
Time of India
30-04-2025
- Business
- Time of India
Airport to miss May 15 deadline
Noida: Noida International Airport will miss its third deadline, which was set for May 15 by chief minister Yogi Adityanath , with work on the terminal building unlikely to be completed by then. While there is no word yet on the new date, sources indicate the launch was unlikely within the next two months. The airport, as of now, is running one year behind its schedule. Its original deadline was Sept 29, 2024, which was revised to April 17, 2025. But with the work on the terminal building not complete, the date for domestic flight operation was revised to May 15 and international flight to June 25. UP has imposed a fine of Rs 10 lakh per day on concessionaire YIAPL from Jan 1 for the delay in completing the project. On Tuesday, chief secretary Manoj Kumar Singh conducted a site inspection of the airport site in Jewar and met officials from Yamuna International Airport Private Limited (YIAPL), Tata Projects Limited and Noida International Airport Limited (NIA). Singh will now hold a stakeholder meeting to set new completion timelines and submit a full report within 15 days. During the meeting, the CM emphasised on the need for all stakeholders to act with urgency. Senior officials were directed to conduct regular review meetings and to hold direct discussions with the chairman of Tata Sons to ensure accountability at the highest level. While the current construction status has not been officially disclosed, the overall physical progress of the project till March 10 was 80%. The runway and associated airside infrastructure, which were 90% complete, were to be ready by April. The passenger terminal building was only 80% complete, with steel roofing and internal finishing still underway. The water and sewage treatment plants, both 40% complete, were significantly behind schedule. Though the ATC building was to be completed by March 31, the commissioning of CNS/ATM systems by the Airports Authority of India (AAI) was projected only by April 30. Officials earlier told the CM that non-issuance of the aerodrome licence from the Directorate General of Civil Aviation (DGCA), along with pending construction, were major roadblocks to commence flight operation by April 30. At a DGCA review meeting on March 5, AAI submitted that only limited ATC functionality could be achieved for its inspection after April 30. The Bureau of Civil Aviation Security (BCAS), meanwhile, informed that after reviewing key safety documents, including the bomb threat contingency plan, anti-hijack contingency plan and airport security programme, it had noted some observations that required compliance. BCAS stated it would need 45 days after receiving the responses to issue the security clearance, and in the case of a partial terminal opening, a structural stability certificate would be mandatory. During the DGCA meeting, YIAPL was also asked to submit detailed operational scenarios given the incomplete status of the terminal and cargo apron. Based on the discussions, the DGCA advised YIAPL to complete all pending works listed in the draft Aeronautical Information Publication (AIP) Supplement and ensure full readiness by April 15. The DGCA also recommended three options for operationalising the airport: initiating cargo operations only by May 15, allowing partial passenger operations using a section of the terminal, or achieving full Phase 1 readiness. Sources indicated that once the airport begins operations, it is likely to follow the DGCA's recommended phased approach, starting with domestic and cargo flights and gradually expanding to include international services.
