314 Housing Projects Face Insolvency

MICL, Godrej Properties partner for Marine Lines project

Man Infraconstruction (MICL) has partnered with Godrej Properties Group for the development of a sea-facing residential project at Marine Lines in South Mumbai. The project has an estimated overall revenue potential of more than Rs 60 billion.Under the transaction, MICL, which was earlier the Development Manager for the project, has partnered with Godrej Properties for its development. The development rights jointly held by MICL and Shreepati Group have been transferred to Godrej Properties. MICL will continue to participate in the project through an agreed revenue-sharing arrangement.Spread a..

Bharat Bijlee appoints Khushru Vakharia as MTM Vice President

Bharat Bijlee has appointed Khushru Vakharia as Vice President of its Magnet Technology Machines (MTM) Division, effective August 31, 2026. He succeeds R Rajaraman, who has retired as Division Head.The MTM Division is part of Bharat Bijlee’s Industrial Systems business and provides permanent magnet technology solutions, including the GreenStar range of gearless elevator machines for customers in India and international markets.Vakharia has more than 35 years of experience with Bharat Bijlee across manufacturing, strategic planning, operational procurement, plant engineering, quality assuranc..

INDIA’S INFRA STORY IS SHIFTING TRACKS

Recently, during the Indian Construction Equipment Manufacturers’ Association ( iCEMA) AGM, the mood was somber. While mining and real estate had provided great relief, the usual cheerleader, namely the road sector, had let everyone down. So, to put the record straight, Ministry of Road Transport and Highways (MoRTH) awarded around 7,184 km of roads in 2025-26, down from 7,538 km in 2024-25. Road construction by MoRTH is expected to remain at around 9,700 km in 2026-27, compared with 9,361 km in 2025-26. So, while road construction was down by 12% and awards have been lower by 5%. With the p..