Construction space tenders increases by 11% YoY in FY22: Ind-Ra
ROADS & HIGHWAYS

Construction space tenders increases by 11% YoY in FY22: Ind-Ra

India Ratings and Research (Ind-Ra) told the media that the amount of overall tenders floated across all divisions in the construction space increased by 11% year-on-year (YoY) in FY22 to Rs 8,901 billion, representing the impetus shown by the central and state governments in improving the order inflow on the Covid-19 pandemic hit season.

In FY22, the overall tender inflows increased 11% YoY to Rs 8,901 billion, after increasing 38% YoY in FY21.

Out of the overall tenders floated, irrigation, roads, and other real estate segments on a combined basis contributed about 78% to the overall tenders floated.

Other than these segments, there were incremental tender inflows from power, railways, and other industrial segments, although they contributed just 18% to the overall tenders floated.

The tenders floated increased incrementally, majorly contributed by both Uttar Pradesh and Maharashtra at Rs 888 billion and Rs 872 billion each in FY22. In FY22, the tenders declared from both the states contributed 20% to the overall tenders (10% each) floated across India.

The orders floated were majorly from Swachh Bharat Mission schemes and Bharatmala Expressway projects. Rajasthan and Madhya Pradesh followed next with 7% and 6% share, each.

In FY22, out of the overall order awards, 40% of the orders were contributed by roadways (FY21: 27%), 12% by water (including irrigation; 10%), and 17% by railways (21%). In FY21, while the mining segment had witnessed an increase of 1115% YoY in the order awards, it dropped 58% YoY in FY22.

The overall orders awarded increased 10% YoY in FY22, majorly on the revival account of the engineering, procurement, and construction (EPC) sector post-Covid-19 pandemic.

The rating agency said Ind-Ra, declared by the central government in February 2022, believes the thrust on the EPC sector would continue in FY23 as well.

Image Source

Also read: As many as 428 infra projects hit cost overruns of Rs 4.98 lakh cr

India Ratings and Research (Ind-Ra) told the media that the amount of overall tenders floated across all divisions in the construction space increased by 11% year-on-year (YoY) in FY22 to Rs 8,901 billion, representing the impetus shown by the central and state governments in improving the order inflow on the Covid-19 pandemic hit season. In FY22, the overall tender inflows increased 11% YoY to Rs 8,901 billion, after increasing 38% YoY in FY21. Out of the overall tenders floated, irrigation, roads, and other real estate segments on a combined basis contributed about 78% to the overall tenders floated. Other than these segments, there were incremental tender inflows from power, railways, and other industrial segments, although they contributed just 18% to the overall tenders floated. The tenders floated increased incrementally, majorly contributed by both Uttar Pradesh and Maharashtra at Rs 888 billion and Rs 872 billion each in FY22. In FY22, the tenders declared from both the states contributed 20% to the overall tenders (10% each) floated across India. The orders floated were majorly from Swachh Bharat Mission schemes and Bharatmala Expressway projects. Rajasthan and Madhya Pradesh followed next with 7% and 6% share, each. In FY22, out of the overall order awards, 40% of the orders were contributed by roadways (FY21: 27%), 12% by water (including irrigation; 10%), and 17% by railways (21%). In FY21, while the mining segment had witnessed an increase of 1115% YoY in the order awards, it dropped 58% YoY in FY22. The overall orders awarded increased 10% YoY in FY22, majorly on the revival account of the engineering, procurement, and construction (EPC) sector post-Covid-19 pandemic. The rating agency said Ind-Ra, declared by the central government in February 2022, believes the thrust on the EPC sector would continue in FY23 as well. Image Source Also read: As many as 428 infra projects hit cost overruns of Rs 4.98 lakh cr

Next Story
Infrastructure Urban

Hindware Opens Rs 1.7 Billion Plastics Plant In Roorkee

Hindware has inaugurated its third manufacturing facility at Roorkee, Uttarakhand, to produce a broad range of CPVC, UPVC, SWR and PVC pipes and fittings, as well as overhead water storage tanks under the Truflo brand. Built with an investment of about Rs 1.7 billion, the plant opens with an annual capacity of 12,500 tonnes, taking the company’s total capacity—including its existing Sangareddy site—to 80,500 tonnes. Strategically located to serve northern and western India, the new unit is expected to sharpen Truflo’s distribution efficiency while creating roughly 200 direct an..

Next Story
Infrastructure Energy

Hartek Wins Rs 1.38 Billion Substation Deal from POWERGRID

Engineering, procurement, and construction (EPC) firm Hartek Group has secured a contract worth Rs 1.38 billion from state-owned POWERGRID for the development of a 400 kilovolt (kV) substation in Karnataka.In a statement issued on Wednesday, the company said the project will be delivered under the Tariff-Based Competitive Bidding (TBCB) route and will involve the design, engineering, procurement, construction, and commissioning of an Air Insulated Switchgear (AIS) substation.The comprehensive scope includes testing at the manufacturer’s works, supply, unloading, storage, erection, and commis..

Next Story
Infrastructure Energy

SJVN Signs Power Supply Deals for 1.5 GW Green Projects

State-run SJVN Ltd has signed multiple power purchase agreements to supply over 1,492 MW of renewable energy from its hydroelectric projects in Nepal and Himachal Pradesh, marking a major step in India’s clean energy transition.The company signed a Power Sale Agreement (PSA) with Uttar Pradesh Power Corporation Ltd (UPPCL) for the supply of electricity from its 900 MW Arun-III Hydro Electric Project in Nepal. The cross-border project is being developed in Sankhuwasabha district by SJVN’s wholly owned subsidiary, SJVN Arun-3 Power Development Company (SAPDC), and is expected to be commi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?