Newsmakers

01 Dec 2024 CW Team

Steel Juggernaut
Dilip Oommen, CEO, ArcelorMittal Nippon Steel India (AM/NS India), heads the company which is set to establish one of the largest greenfield steel projects in India in recent times - an integrated steel plan of 17.8 million tonnes per annum (MTPA) capacity with a proposed aggregate investment of Rs.1.4 trillion in the Anakapalli district of Andhra Pradesh. The project was agreed upon in a virtual meeting between Nara Lokesh, Andhra Pradesh Minister, IT, and Aditya Mittal, CEO, ArcelorMittal. Also the site meets the company’s need for a captive jetty to help source raw material globally and at internationally competitive prices, which is an important part of the company’s strategy to expand. Expected to break ground in January 2025, the project is part of the company’s goal to reach 40 MTPA steel production by 2035.

State of Exponential Growth
Mukesh Ambani, Chairman and Managing Director, Reliance Industries (RIL), heads the company which will invest Rs.650 billion (bn) in Andhra Pradesh to set up 500 compressed biogas (CBG) plants over the next five years, which will be the company’s biggest investment outside Gujarat under its clean energy initiative. The plants, each involving an investment of Rs.1.3 bn, will generate employment for 250,000 people. The plan was finalised in Mumbai between RIL and Andhra Pradesh IT minister Nara Lokesh, who also leads the state panel on job creation. He hailed the creation of 250,000 jobs as a ‘gamechanger’ for the state's youth. The CBGs imply revenue for the state of around Rs.576.5 bn for 500 plants and will make the state a frontrunner in clean energy.

Portfolio Proliferation
Gautam Adani, Founder and Chairman, Adani Group, heads the company, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects. The group in October had acquired a 46.64 per cent stake in engineering and construction firm ITD Cementation India for `32.04 billion (bn). The company has also acquired a 30.07 percent stake in construction firm PSP Projects for Rs.6.85 bn, adding PSP Projects’ robust $800 million (mn) order book to its growing portfolio. These transactions are a win-win deal for both parties. Officials from PSP Projects said with Adani’s acquisition, they expect their order book to grow as Adani portfolio companies are undertaking several projects in defence, airports and infrastructure. The company is also in the news for the indictment served by US Courts and the group cancelling its $600 mn bond sale.

New Kid on the Blox
Aditya Jhaveri, Founder and CEO, Blox, heads India’s leading digital real estate platform which has acquired a 11 per cent stake in Guardians for $12 million (mn) with plans to increase its ownership to 50 per cent over the next three years. This acquisition solidifies Blox and Guardians as India’s largest real estate seller, managing annual sales of about 25,000 homes with a consolidated gross transaction value (GTV) of $2 billion (bn). Looking ahead, Blox is set to grow its GTV fivefold to $10 bn over the next 3-5 years. As India’s first platform to combine Direct-to-Consumer (D2C) and Business-to-Business-to-Consumer (B2B2C) models, the dual-pathway model is a game-changer for India’s real estate sector, offering developers unprecedented reach and flexibility. Blox intends to redefine the digital real estate market even as it approaches a public listing.

Steel Juggernaut Dilip Oommen, CEO, ArcelorMittal Nippon Steel India (AM/NS India), heads the company which is set to establish one of the largest greenfield steel projects in India in recent times - an integrated steel plan of 17.8 million tonnes per annum (MTPA) capacity with a proposed aggregate investment of Rs.1.4 trillion in the Anakapalli district of Andhra Pradesh. The project was agreed upon in a virtual meeting between Nara Lokesh, Andhra Pradesh Minister, IT, and Aditya Mittal, CEO, ArcelorMittal. Also the site meets the company’s need for a captive jetty to help source raw material globally and at internationally competitive prices, which is an important part of the company’s strategy to expand. Expected to break ground in January 2025, the project is part of the company’s goal to reach 40 MTPA steel production by 2035. State of Exponential Growth Mukesh Ambani, Chairman and Managing Director, Reliance Industries (RIL), heads the company which will invest Rs.650 billion (bn) in Andhra Pradesh to set up 500 compressed biogas (CBG) plants over the next five years, which will be the company’s biggest investment outside Gujarat under its clean energy initiative. The plants, each involving an investment of Rs.1.3 bn, will generate employment for 250,000 people. The plan was finalised in Mumbai between RIL and Andhra Pradesh IT minister Nara Lokesh, who also leads the state panel on job creation. He hailed the creation of 250,000 jobs as a ‘gamechanger’ for the state's youth. The CBGs imply revenue for the state of around Rs.576.5 bn for 500 plants and will make the state a frontrunner in clean energy. Portfolio Proliferation Gautam Adani, Founder and Chairman, Adani Group, heads the company, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects. The group in October had acquired a 46.64 per cent stake in engineering and construction firm ITD Cementation India for `32.04 billion (bn). The company has also acquired a 30.07 percent stake in construction firm PSP Projects for Rs.6.85 bn, adding PSP Projects’ robust $800 million (mn) order book to its growing portfolio. These transactions are a win-win deal for both parties. Officials from PSP Projects said with Adani’s acquisition, they expect their order book to grow as Adani portfolio companies are undertaking several projects in defence, airports and infrastructure. The company is also in the news for the indictment served by US Courts and the group cancelling its $600 mn bond sale. New Kid on the Blox Aditya Jhaveri, Founder and CEO, Blox, heads India’s leading digital real estate platform which has acquired a 11 per cent stake in Guardians for $12 million (mn) with plans to increase its ownership to 50 per cent over the next three years. This acquisition solidifies Blox and Guardians as India’s largest real estate seller, managing annual sales of about 25,000 homes with a consolidated gross transaction value (GTV) of $2 billion (bn). Looking ahead, Blox is set to grow its GTV fivefold to $10 bn over the next 3-5 years. As India’s first platform to combine Direct-to-Consumer (D2C) and Business-to-Business-to-Consumer (B2B2C) models, the dual-pathway model is a game-changer for India’s real estate sector, offering developers unprecedented reach and flexibility. Blox intends to redefine the digital real estate market even as it approaches a public listing.

Resources

04 Jun 2026

ULCCS Showcases Cooperative Model at UN Symposium

Uralungal Labour Contract Co-operative Society (ULCCS) showcased its community-led development model at the United Nations Headquarters in New York, where it participated as a panellist at the International Symposium on Cooperative Financial Institutions held on 28–29 May 2026.Jointly organised by the United Nations Department of Economic and Social Affairs (UN DESA), the International Cooperative Banking Association (ICBA), and the International Cooperative Alliance (ICA), the symposium was held under the theme ‘Fuelling Inclusive and Equitable Growth’ and brought together policymakers,..

Infrastructure Transport

04 Jun 2026

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Real Estate

04 Jun 2026

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..