Cabinet to Weigh Formation of SPV for Bengaluru’s Infra Projects
The Karnataka Cabinet is set to discuss the formation of a Special Purpose Vehicle (SPV) to take charge of key infrastructure projects in Bengaluru, a move aimed at streamlining the city’s development and reducing traffic congestion.The proposed SPV will have the state government and the Bruhat Bengaluru Mahanagara Palike (BBMP) as stakeholders. The Cabinet is expected to finalise the shareholding ratio between the two. Once operational, the SPV will oversee major infrastructure initiatives such as tunnel roads, elevated corridors, buffer zone roads along stormwater drains, white-topping pro..
MEIL Receives Purchase Order for Nuclear Power Project from NPCIL
Megha Engineering & Infrastructure Ltd. (MEIL) has formally received the Purchase Order for a Rs 128 billion EPC contract from the Nuclear Power Corporation of India Limited (NPCIL) to construct two 700 MWe nuclear reactors—Kaiga Units 5 & 6—in Karnataka. This is the biggest-ever order placed by NPCIL and marks MEIL’s first major step into the nuclear energy sector—a field that will help shape India’s energy future. The order was formally handed over at NPCIL’s Mumbai headquarters to Shri Ch. P. Subbaiah, Director, MEIL (Projects), and his team. It was not just a professio..
Sheth Realty sets Rs 30 billion target for FY26 launches
Mumbai-based Sheth Realty is targeting a topline of over Rs 30 billion in the financial year 2025-2026, driven by planned launches in Borivali, Dombivli, Versova, and Mulund. The announcement follows the success of its debut project, Promont, located near the Sion-BKC Connector, which recorded sales worth Rs 4 billion within nine months of its launch. The company reported that 50 per cent of the project inventory was sold during just 20 per cent of its overall project lifecycle.In January 2025, Sheth Realty and Aakshya Realty secured Rs 1.5 billion in funding from IndusInd Bank to ensure the s..
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