Decline Forecasted in MORTH Road Awards by 40-43% for FY24, Reveals ICRA
ROADS & HIGHWAYS

Decline Forecasted in MORTH Road Awards by 40-43% for FY24, Reveals ICRA

The Ministry of Road Transport and Highways (MORTH) is set to experience a significant decrease in road awards during the fiscal year 2023-24, according to a recent report by ICRA. The study anticipates a substantial 40-43% decline in awards compared to the previous year. This downturn is attributed to various factors, including economic challenges, policy shifts, and the ongoing dynamics within the logistics sector. The decreased awards pose implications for infrastructure development, impacting not only the construction industry but also the overall economic growth. Key factors influencing this decline include the economic climate, changes in government policies, and the evolving landscape of the logistics industry. Economic uncertainties have led to a more cautious approach in awarding road projects, with authorities taking measured steps in response to the broader economic scenario. The decline, as predicted by ICRA, underscores the need for adaptive strategies within the infrastructure and construction sectors. Stakeholders may need to recalibrate their plans in response to the changing dynamics and align themselves with emerging trends in road development. As the situation unfolds, industry players must closely monitor developments, staying attuned to policy changes and economic indicators that may impact the trajectory of road awards. Navigating this challenging landscape requires a combination of resilience, strategic planning, and a proactive stance to adapt to the evolving scenario.

The Ministry of Road Transport and Highways (MORTH) is set to experience a significant decrease in road awards during the fiscal year 2023-24, according to a recent report by ICRA. The study anticipates a substantial 40-43% decline in awards compared to the previous year. This downturn is attributed to various factors, including economic challenges, policy shifts, and the ongoing dynamics within the logistics sector. The decreased awards pose implications for infrastructure development, impacting not only the construction industry but also the overall economic growth. Key factors influencing this decline include the economic climate, changes in government policies, and the evolving landscape of the logistics industry. Economic uncertainties have led to a more cautious approach in awarding road projects, with authorities taking measured steps in response to the broader economic scenario. The decline, as predicted by ICRA, underscores the need for adaptive strategies within the infrastructure and construction sectors. Stakeholders may need to recalibrate their plans in response to the changing dynamics and align themselves with emerging trends in road development. As the situation unfolds, industry players must closely monitor developments, staying attuned to policy changes and economic indicators that may impact the trajectory of road awards. Navigating this challenging landscape requires a combination of resilience, strategic planning, and a proactive stance to adapt to the evolving scenario.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement