Newsmakers
ECONOMY & POLICY

Newsmakers

Building Nation
As Director of Patel Infrastructure, Arvind Patel stands behind a culture of excellence that enabled a world-record feat on the Ganga Expressway. With 34.24 km of bituminous concrete laid in just 24 hours, the project showcases Indian engineering at its finest. While the execution was a team effort, it reflects the leadership ethos Patel has helped foster—precision, ambition, and nation-first thinking. “This is not just a record,” he says, “it’s a reflection of Indian engineering brilliance and our team’s unwavering spirit.”

Engineering a Self-Reliant Future
At the helm of BEML, Shantanu Roy, CMD, is quietly driving a bold transformation in India’s mining sector. With a clear vision rooted in the Aatmanirbhar Bharat mission, BEML has championed the development of India’s largest indigenously built mining equipment—the BRS21 Rope Shovel—delivered in just 24 months. A technological breakthrough, the BRS21 is fully designed, engineered, and manufactured in India. This 720-ton electric powerhouse marks a historic shift in large-scale surface mining, offering a zero-emission, eco-friendly solution for overburden removal in opencast mines.

India’s Costliest Flat Sold
India’s priciest apartment deal has been sealed in Mumbai, with Leena Gandhi Tewari, chairperson of USV, purchasing two sea-facing duplexes at Naman Xana, Worli, for Rs 6.39 billion. At Rs 2.83 lakh per sq ft, the 22,572 sq ft transaction nears Rs 7.03 billion with taxes. As per reports, Worli Sea Face is fast becoming the address of choice for India’s ultra-rich, driven by its sea views, privacy, and limited marquee supply.

Dharavi Makeover Cleared
The Maharashtra Government has approved the master plan to redevelop Dharavi, Asia’s largest slum, while preserving its cultural identity. As per reports, the plan was presented by SVR Srinivas, CEO of the Dharavi Redevelopment Project, and cleared at a meeting chaired by Chief Minister Devendra Fadnavis. The 251.24-ha project is led by Navbharat Mega Developers, a SPV formed by the state’s Slum Rehabilitation Authority and Adani Properties. It includes initial estimates of 58,532 residential and 13,468 commercial/industrial units for eligible tenants. Of this, 108.99 ha will be redeveloped, with the remainder reserved for infrastructure and public services. 

Building NationAs Director of Patel Infrastructure, Arvind Patel stands behind a culture of excellence that enabled a world-record feat on the Ganga Expressway. With 34.24 km of bituminous concrete laid in just 24 hours, the project showcases Indian engineering at its finest. While the execution was a team effort, it reflects the leadership ethos Patel has helped foster—precision, ambition, and nation-first thinking. “This is not just a record,” he says, “it’s a reflection of Indian engineering brilliance and our team’s unwavering spirit.”Engineering a Self-Reliant FutureAt the helm of BEML, Shantanu Roy, CMD, is quietly driving a bold transformation in India’s mining sector. With a clear vision rooted in the Aatmanirbhar Bharat mission, BEML has championed the development of India’s largest indigenously built mining equipment—the BRS21 Rope Shovel—delivered in just 24 months. A technological breakthrough, the BRS21 is fully designed, engineered, and manufactured in India. This 720-ton electric powerhouse marks a historic shift in large-scale surface mining, offering a zero-emission, eco-friendly solution for overburden removal in opencast mines.India’s Costliest Flat SoldIndia’s priciest apartment deal has been sealed in Mumbai, with Leena Gandhi Tewari, chairperson of USV, purchasing two sea-facing duplexes at Naman Xana, Worli, for Rs 6.39 billion. At Rs 2.83 lakh per sq ft, the 22,572 sq ft transaction nears Rs 7.03 billion with taxes. As per reports, Worli Sea Face is fast becoming the address of choice for India’s ultra-rich, driven by its sea views, privacy, and limited marquee supply.Dharavi Makeover ClearedThe Maharashtra Government has approved the master plan to redevelop Dharavi, Asia’s largest slum, while preserving its cultural identity. As per reports, the plan was presented by SVR Srinivas, CEO of the Dharavi Redevelopment Project, and cleared at a meeting chaired by Chief Minister Devendra Fadnavis. The 251.24-ha project is led by Navbharat Mega Developers, a SPV formed by the state’s Slum Rehabilitation Authority and Adani Properties. It includes initial estimates of 58,532 residential and 13,468 commercial/industrial units for eligible tenants. Of this, 108.99 ha will be redeveloped, with the remainder reserved for infrastructure and public services. 

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Infrastructure Urban

Choice Consultancy Wins Rs 634.7 Million Public Sector Projects

Choice Consultancy Services Pvt Ltd, the public sector advisory arm of Choice International Ltd, has secured two major project developments totalling approximately Rs 634.7 million (inclusive of GST), further solidifying its role in public sector transformation and infrastructure planning across India.The company has received a work order worth Rs 528 million from the Maharashtra Institution for Transformation (MITRA), under the Government of Maharashtra. This assignment, part of the World Bank-backed MahaSTRIDE Programme, involves setting up District Strategic Units (DSUs) across the Chhatrap..

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Infrastructure Urban

Shalibhadra Finance FY25 Profit Jumps 34% Year-on-Year

Shalibhadra Finance Limited, a leading two-wheeler financing company with a deep presence in Gujarat, Maharashtra, and Madhya Pradesh, has reported a 34 per cent year-on-year rise in net profit for FY25, reaching Rs 160 million. The company’s performance was supported by disciplined lending, cost efficiency, and robust asset quality.Financial Highlights – FY25:Net Profit: Rose 34 per cent year-on-year to Rs 160 million. Q4 FY25 profit also increased by 34 per cent to Rs 44 million.Net Interest Income (NII): Up 13 per cent YoY to Rs 295.8 million for the full year and 16 per cent to Rs 84.3..

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Infrastructure Transport

Court Orders Uttarakhand PWD to Pay Rs 172 Million to MBL

The Commercial Court in Dehradun, Uttarakhand, has directed the Public Works Department (PWD), Government of Uttarakhand, to pay Rs 172.4 million to MBL Infrastructure Ltd. in accordance with an arbitration award dated 23 March 2024. The case pertains to a completed road project under Package No. 5 for the improvement and strengthening of state roads in Nainital and Udham Singh Nagar districts.The arbitration tribunal had issued a unanimous award in favour of MBL Infrastructure Ltd., granting a payment of Rs 172.4 million, which includes interest accrued up to the date of the award. Additional..

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