Loan approval of Rs 5 bn for road concretisation received by MBMC

21 Mar 2023 CW Team

The Mira-Bhayandar Municipal Corporation (MBMC) has received an in-principle approval to its application seeking Rs 5 billion as a loan from Bank of Baroda to concrete its road network throughout the twin-city, taking a step towards rendering the twin city free of potholes. The state’s urban development department (UDD) passed a government decision permitting the MBMC to obtain the loan from the banking organisation in November 2022. The MBMC has created a precise roadmap to concretise 67 roads following a thorough survey.

The road concrete project is expected to cost around Rs 10 billion. A resolution approved by the former general body house will allow the twin city to begin concreting 45 roadways. The city administration, which was facing a severe financial crisis as a result of the significant investment in medical infrastructure needed to combat the COVID pandemic, had asked the state government for authorisation to raise money to carry out the project's initial phase.

“Our aim is to provide superior quality roads to citizens. Tenders for the first phase of the work will be floated soon,” stated Dilip Dhole, Municipal Commissioner, MBMC. Although the loan will have a 10-year term, the appropriate interest rate is unclear. The state government's approval came with a number of conditions, including the payment of all outstanding installments on existing loans, an increase in revenue, the creation of new sources of funding, a prohibition against digging on freshly concreted roads, prompt repayment in accordance with the lender's loan structure, and a prohibition against diverting loan funds for any other use. The Mumbai Metropolitan Region Development Authority (MMRDA) will build the remaining roads.

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..