HPIL Signs MoU for Rs 31 Billion Steel Plant in Gadchiroli

24 Sep 2025 CW Team

Hariom Pipe Industries (HPIL) has signed a memorandum of understanding (MoU) with the Government of Maharashtra to establish an integrated steel plant in Gadchiroli district.

The proposed project involves an investment of Rs 31.35 billion. The state government will provide fiscal incentives and assist in obtaining all necessary approvals, registrations, and clearances under existing policies. HPIL clarified that the MoU does not involve any shareholding, related-party transactions, or issuance of shares. It is strictly limited to the proposed plant, with no special rights granted to the state.

Hariom Pipe Industries specialises in the manufacture of high-quality steel products.

The company’s consolidated net profit rose 34.8 per cent to Rs 236 million on a 34.3 per cent increase in revenue from operations to Rs 4.61 billion in Q1 FY26 compared with Q1 FY25.

Shares of HPIL fell 1.32 per cent to Rs 543.95 on the BSE.:

Real Estate

02 Jun 2026

Dash Square Adds Ashley Study Furniture

Dash Square has expanded its furniture portfolio with a curated study furniture collection from Ashley Furniture Homestore. The range is designed for contemporary homes where work, study and creative activities increasingly require dedicated and well-planned spaces.The collection includes writing desks, executive workstations, storage-led study units and display shelving. It combines practicality, comfort and design to create workspaces that are functional as well as visually appealing.One setting features a light-toned desk with coordinated bookcases and storage cabinets, creating a bright an..

Suraj Estate Arm Acquires Mahim Land Rights

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-med..

AGNI Launches Industry Benchmarking Drive

The Association of Global NICMARians (AGNI), the alumni body of NICMAR, hosted ASPIRE 2026 in Mumbai under the theme ‘Innovation to Transformation’. The symposium brought together professionals from construction, infrastructure, real estate and project management to discuss technology, AI, sustainability and data-led decision-making.At the event, AGNI announced its vision to emerge as an industry think tank and launched initiatives including an Industry Benchmarking Programme. It also proposed a digital ecosystem with tools for innovation impact assessment, salary benchmarking, company ben..