Icra increases domestic steel demand growth rate to 10% for FY25

05 Jun 2024 CW Team

Icra has revised its projection for domestic steel demand growth to 9-10% for the fiscal year 2025, citing robust government spending and strong demand from steel-consuming sectors. The agency noted a growth of 11.3% in domestic steel consumption between February and April 2024. It highlighted healthy government capital expenditure (capex) until February 2024, along with continued demand from sectors like housing and real estate, contributing to the resilient demand for steel. Consequently, Icra has revised its target for FY25 steel demand growth from the earlier estimate of 7-8% to 9-10%, leading to an upward revision in the sector's earnings for the fiscal year 2025. Girishkumar Kadam, Senior Vice-President & Group Head, Corporate Sector Ratings, ICRA, emphasized the steel industry's significant growth over the past three years, marking its fastest expansion since the global financial crisis. Despite this growth, India remained a net importer of finished steel in FY2024, with imports increasing by 38.2%. Kadam expects domestic steel imports to rise further by 13-14% in FY2025, making India a net steel importer for the current fiscal year as well, given the weak global growth outlook anticipated in the coming quarters. (Source: ET)

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..