The Bombay High Court recently cancelled the coastal regulation zone (CRZ) clearances granted to the ambitious Rs 140-billion Mumbai Coastal Road Project, reasoning that there was serious lacuna in the decision-making process and lack of proper scientific study. The decision is likely to impact the order book of large construction players such as Larsen & Toubro (L&T) and HCC, who are involved in the construction of the project.
IVRCL has entered into new areas of business such as mining, railways and metro rail, and is planning to increase its business from overseas markets. The company is expanding the port-folio of services with the objective of de-risking the overall business. The company added new orders worth Rs 9,330 crore during the 15 months in spite of decelerating growth momentum across all sectors and the order book position now is at Rs 27,130 crore.