The Union Road Transport and Highways Ministry has scaled down its projects award target by nearly half to 5,000 km for this financial year compared to target of 9,500 km in 2012-13. Keeping in view of a dismal show last fiscal, the government has cut down the awarding of the road contracts. Last fiscal, the Ministry was barely able to award 15 per cent of the targeted 9,500 km of highways.
DB Realty, a Mumbai based real estate company, has announced its results for the financial year 2012 -13. Commenting on the results, Vipul Bansal, CEO, DB Realty said that the company remain committed to completion and delivery of its projects in a timely manner. It has completed Orchid Suburbia and the progress on its key business parameters continues at a reasonable pace.
According to data from brokerage firms show that real estate companies, battling low volumes and poor cash flows, should see improvement in the December quarter, due to launches and festive sales. The low base of the corresponding quarter of the previous financial year is also expected to help.