Realty Barratt expects 7% drop in homebuilding targets

11 Jul 2024 CW Team

Britain's Barratt Developments anticipates a potential decrease of up to 7% in its homebuilding targets for fiscal 2025 due to higher mortgage rates and broader economic uncertainties hindering a housing market recovery. The company's shares were down 1.8% at 482.50 pence in early trading. The housing sector is banking on significant changes in homebuilding policies under the new Labour government, particularly those aimed at addressing planning issues, as delayed interest rate cuts have tempered hopes for a rapid rebound. Barratt, a major player in the UK's homebuilding sector in terms of production and revenue, stated it expects to construct between 13,000 and 13,500 homes by June 2025, including 600 units from joint ventures. The company achieved the upper end of its projected range by building 14,004 homes in the year ending June 30. Britain's new finance minister, Rachel Reeves, has pledged to tackle the chronic shortage of new homes by reinstating mandatory house building targets for local authorities, increasing the number of planning officers, and expediting large green energy projects. Barratt noted a likely reduction in the average number of sales outlets in the current year but expressed confidence in growth heading into the 2026 fiscal year. Forward sales, a crucial industry metric reflecting near-term housing demand, stood at 7,239 homes (including joint ventures) as of June 30, down from 8,995 units a year earlier. Additionally, Barratt forecasted profit slightly above expectations for the 2024 fiscal year. Analysts estimate adjusted pre-tax profit for the year ending June 30 to be around 357 million pounds ($456.82 million), marking a decrease of approximately 60% from the prior year's 884.3 million pounds, according to LSEG data. In February, Barratt agreed to acquire smaller competitor Redrow in an all-stock transaction valued at about 2.52 billion pounds.

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..