DOCSLIB.ORG

Impact of Covid-19 on Roads

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Impact of Covid-19 on Roads Impact of Covid-19 on Roads 1 Roads Initiatives in Light of COVID-19 Key Policy Developments Government may offer relief to highway developers • Reportedly, the Ministry of Road Transport and Highways (MoRTH) has begun consultations on offering major relaxations to highway developers suffering from stressed finances, while also seeking to attract more private investment by settling claims that have been long overdue. • NHAI has been asked to expedite termination payment for cancelled contracts so that banks, largely public sector players, are able to recover their dues which are on the verge of turning into bad debt. • The government is also considering to increase the interest on outstanding annuity payments to highway developers, as the bank rates have decreased from 6.75 per cent per annum in February 2016, when the hybrid annuity model (HAM) was launched. India to ban Chinese companies from highway projects • Amid the ongoing India-China tensions, MoRTH has announced that India will not allow Chinese companies to participate in highway projects, including those through joint ventures. • According to the ministry, a policy will be out soon banning Chinese firms and relaxing norms for Indian companies to expand their eligibility criteria for participation in highway projects. • Qualification norms for projects are being rationalised by the ministry to ensure Indian companies do not require entering into pacts with foreign partners to grab projects. • With respect to existing tenders and future bids, MoRTH has asserted that rebidding will be done in case of any Chinese joint ventures. Government plans to revamp NHAI • To make highway projects more financially viable, the Ministry of Road Transport and Highways (MoRTH) is planning to revamp the National Highways Authority of India (NHAI). The ministry has reportedly asserted that the need of the hour is to devise bankable projects suitable for the market with acute precision and accuracy. 2 Roads Initiatives in Light of COVID-19 Key Policy Developments MoRTH to bid out more projects on EPC mode • Reportedly, MoRTH has planned to bid out more projects on engineering, procurement and construction (EPC) mode. The ministry claims that the number of companies which could arrange finance and take projects is much lower compared to EPC firms. • According to the ministry, the current market conditions may not support build-operate-transfer (BOT) projects but the investor interest level must be gauged. • Besides, delay in financial closures on projects implemented on hybrid annuity model (HAM) has also encouraged MoRTH to focus on impending projects on EPC mode and later monetise them. NHAI to rank roads for quality service • In an effort to improve the quality of roads, NHAI has decided to undertake performance assessment and ranking of the highways in the country. The assessment audit and ranking of the national highways is aimed to take corrective recourse, wherever needed, to improve the quality and provide higher level of service to highway commuters. • The assessment parameters are based on different international practices and studies for benchmarking highway performances in Indian context. The criteria for the assessment have been broadly categorised in three main heads namely, highway efficiency, highway Safety and user services. • Apart from overall ranking of all the corridors, separate ranking for BOT, HAM and EPC projects will also be done. NHAI becomes first construction sector organisation to go 'fully digital’ • NHAI has gone ‘fully digital’, with the launch of cloud-based and artificial intelligence-powered Big Data Analytics platform – Data Lake and Project Management Software in view of the deadly Covid-19 pandemic. • With advance analytics, the Data Lake software will forecast the delays, likely disputes, and will give advance alerts. 3 Roads Initiatives in Light of COVID-19 Key Policy Developments New norm approved by MOEFCC waives major clause for highway projects • The central government has directed state governments to make MoRTH the ‘user agency’, in place of executing state agencies, to be able to get exemption from a clause that makes it mandatory to make available equal measure of non-forest land in exchange for forest land diverted for national highway projects. • With this, MoRTH will now be eligible for the exemption granted under Forest Conservation Act (FCA) to central user agencies. These agencies have to comply with the other stipulation of doing compensatory afforestation on double the degraded forest land. Other Key Developments • Following the notification of its COVID-19 related force majeure measure, NHAI is facing negotiations over several issues raised by road developers. Encashment of bank guarantees, non-payment of maintenance costs and lower estimation of revenue and expenditures are some of them. • Reportedly, most of the 162 BOT (toll) concessionaires, including private equity players, have decided to take the arbitration route to recover about Rs 6.5 billion as interest and operation and maintenance (O&M) costs from NHAI for the 25-day toll collection suspension period. • The concessionaires are allegedly upset with NHAI for not declaring the toll suspension period during the COVID-19 pandemic as a force majeure political event, and thus rescuing itself from compensating the loss to concessionaires on the O&M and interest costs. • Amid the Covid-19 outbreak, fundraising plans for NHAI may be reworked by the central government. The government has already formed a panel to rework financing for NHAI and may invite some unconventional ideas to optimise future investments by the authority. 4 Roads Initiatives in Light of COVID-19 Other Key Developments • The Delhi High court (HC) has issued a notice to Centre, RBI and NHAI on a plea seeking a onetime restructuring of loans by all banks and Nonbanking Finance Companies (NBFCs) to the petitioners in wake of the lockdown in the country and keeping in view the spread of Covid-19. • The plea seeks direction to allow a one-time restructuring of loans as a relief measure to the industries/ companies/ retail customers so they are not classified under non-performing assets (NPA) after the lockdown is lifted. • The plea also seeks direction to the respondents of extending the period of moratorium on payment of all term loans, and working capital facilities till the final disposal of the petition. • The slow transmission of the RBI’s prescribed bank rate cuts in project lending rates will impact debt service coverage ratios in operational HAM based projects, according to a note by ratings agency India Ratings and Research. • Sluggish transmission in project’s interest rate was not originally envisaged by developers during the bidding stage and therefore may also impact their equity returns. • While NHAI bound concessions receive grants on a timely basis, a concession grantor with a weak credit profile, late annuity payments combined with delayed transmission could pose a risk to HAM projects. • NHAI plans to release monthly grants proportionate to the completion of project construction, and the agency believes this will have a salutary effect on the working capital requirements of developers. • Expediting settlement of claims through conciliation, NHAI has settled claims worth Rs 133.49 billion for Rs 37.43 billion, since 2017-18. • In its endeavour for faster settlement of claims and reducing liabilities thereby, NHAI has rigorously started the process of conciliation by constituting three Conciliation Committees of Independent Experts (CCIE) of three members each. Till date, about 108 cases have been referred to CCIE. • An acute labour shortage has hit highway construction in April-May 2020. Reportedly, only about 847 km of highways have been constructed in the country during the first two months of this fiscal, compared with 1,692 km in the year-ago period. • Even assuming a pick-up in the coming quarters, execution of projects in FY21 is estimated to be lower by around 22 per cent against the target of 10,250 km, according to ICRA. • Cumulative awards, however, rose to 747 km in the first two months of the current fiscal from 241 km in the year-ago period. 5 Roads Initiatives in Light of COVID-19 Other Key Developments • According to ICRA, the Bharatmala Pariyojana scheme may get delayed by about four years in the aftermath of the COVID-19 pandemic. The scheme, that was scheduled for completion in 2021-22, is now likely to get completed by 2025-26. • As of February 2020, a total of 246 road projects with an aggregate length of about 10,100 km were awarded under Phase I of the programme at a total cost of Rs 2.38 trillion. According to ICRA, the average cost of the award stood at Rs 238 million per km, 54 per cent higher than initial estimated cost of Rs 155.2 million per km. • The land acquisition cost for the National Highways Authority of India (NHAI) increased at a compounded annual growth rate (CAGR) of 27 per cent from FY2007 to FY2019 from Rs 2.1 million per hectare to around Rs 40 million per hectare. • According to CRISIL, the revenue earned by EPC companies in the roads sector is expected to contract by 8-10% in 2020-21, with the COVID-19 pandemic-driven lockdowns severely curtailing activity. • Besides, the pickup in execution and mobilisation after the lifting of the lockdown will be gradual. • According to ICRA, the extension in concession period by NHAI with the idea of compensating companies for loss in toll collection during the first phase of the nationwide lockdown fails to be adequate, as it does not compensate for loss in net present value terms for majority of BOT (toll) projects. • The recent relief package announced by NHAI for BOT (toll) concessionaires has two parts- the revenue loss during and after toll suspension period will be compensated in the form of extension by three to six months in concession period and, COVID-19 loan is provided for concessionaires to the extent relief is not granted under moratorium under RBI guidelines.
Load more

Recommended publications
  • National Highways Authority of India
    NATIONAL HIGHWAYS AUTHORITY OF INDIA (An Autonomous Body under the Ministry of Road Transport and Highways, Government of India) (Constituted on June 15, 1989 by an Act of Parliament - The National Highways Authority of India Act, 1988) INR 30,000,000,000 7.30 per cent. Synthetic INR Notes due 18 May 2022 Issue price: 100.00 per cent. The INR 30,000,000,000 7.30 per cent. Synthetic INR Notes due 18 May 2022 (the "Notes") will be issued by the National Highways Authority of India (the "Issuer"). The Notes will constitute direct, unsubordinated, unconditional and unsecured obligations of the Issuer and shall, at all times, rank pari passu and without any preference or priority among themselves and shall also rank pari passu with all other present and future direct, unsubordinated, unconditional and unsecured obligations of the Issuer (subject to any obligations preferred under mandatory provisions of the law prevailing from time to time). The Notes will settle in U.S. dollars. The Issue Price will be payable in U.S. dollars in the amount of USD 466,531,787.14 at the agreed conversion rate of INR 64.3043 per one U.S. dollar, such conversion rate reported by the Reserve Bank of India ("RBI") and displayed on Reuters page "RBIB" at approximately 1:30 p.m., Mumbai time, on 12 May 2017. The Notes mature on 18 May 2022. The Notes are also subject to redemption in whole, at their principal amount, together with accrued interest, at the option of the Issuer at any time prior to the Maturity Date in the event of certain changes affecting taxation in India, subject to RBI consent.
    [Show full text]
  • Infrastructure Roads & Highways Sector Report
    INDIA UNDER BHARATMALA Connecting India’s Road network INFRASTRUCTURE ROADS & HIGHWAYS SECTOR REPORT Infrastructure – Roads and Highways Road sector to look up post a forgettable FY19 The Road sector has faced rough weather in FY19 owing to a) overall Overall awarding nosedives in FY19 for Road projects weakness in project awarding, b) delays in financial closure for Awarding Construction Hybrid Annuity projects, and c) poor response to second bundle of (km per day) 50 47 Toll Operate Transfer (TOT) projects. Although most decent-sized 44 45 road contractors have achieved financial closure for their projects, 40 issues like receipt of appointed date yet remain as industry woes. 35 30 28 27 FY19 ended with awarding and construction of 5,489 km and 30 22 23 constructed 10,855 km respectively (FY18 awards at 17,055 km and 25 17 construction at 9,829 km). 20 15 12 However, the tender pipeline and commentary from contractors 15 suggest FY20 to be better in terms of project awarding. The existing 10 heavy order backlog of contractors and strong tender pipeline places 5 the sector in a sweet spot. Our top picks in this space are PNC 0 Infratech and HG Infra. FY15 FY16 FY17 FY18 FY19 Source: Media Reports, YES Sec – Research; Data for Ministry of Roads including NHAI Road sector FY19 highlights – Awarding muted; Construction robust After ending FY18 with massive order awarding of 17,055 km, some Exhibit 2: Stock coverage Rev PAT slowdown was expected. However, awarding literally dried up in Mcap CMP Target CAGR CAGR P/E Company (Rs.
    [Show full text]
  • Construction and Infrastructure- Mar'21
    Construction and Infrastructure- Mar’21 VP Research: Shravan Shah Associate: Maulik Shah/Parth Bhavsar Tel: +91 22 40969749 Tel: +91 22 40969775 E-mail: [email protected] E-mail: [email protected]/[email protected] April 09, 2021 April 09, 2021 2 Monthly Update - Mar 2021 Announcement of New Investments . New investments announced up by 75.4% YoY to Rs1,722 bn (up 60.3% MoM) ACIL in Mar’21, primarily due to increase in Roads/ Power which was partially offset CMP / Target by fall in Others/ Railway. New investments announced in FY21 decreased Rs293/Rs326 13.4% YoY to Rs10,595.1 bn owing to the fall in Others/ Railways which was 3 partially offset by rise in Manufacturing/ Roads. DBL . Manufacturing segment saw a major portion of new investments with 35.5% CMP / Target Rs 575 / Rs 569 share followed by Roads/ Power at 20.6%/ 15.0% in Mar’21 HG Infra . Higher concentration of new investments announced was seen in Odisha with 30.8% share followed by Uttar Pradesh with 14.2% share. CMP / Target Rs 2 83 / Rs 410 . Major Projects announced in Mar’21 includes Integrated Steel Plant (Kendrapada) (Rs500 bn), Ganga Expressway (Ubariya Khurd-Sarso) Project J Kumar (Group-III) (Rs58.1 bn) and Pumped Storage Hydel Power (Shahpur) Project CMP/ Target Rs 1 93 / Rs 267 (Rs118.8 bn) KNR Tenders Published CMP / Target Rs 218 / Rs 240 . Tenders issued increased 82.4% YoY to Rs835.7 bn in Mar’21 led by Roads/ Irrigation. Tenders published in FY21 increased 44.4% YoY to Rs7,981.7 bn, led NCC by rise in Roads/ Mining/ Water.
    [Show full text]
  • Kibithoo Can Be Configured As an Entrepôt in Indo- China Border Trade
    ISSN (Online) - 2349-8846 Kibithoo Can Be Configured as an Entrepôt in Indo- China Border Trade JAJATI K PATTNAIK Jajati K. Pattnaik ([email protected]) is an Associate Professor, at the Department of Political Science, Indira Gandhi Government College, Tezu (Lohit District), Arunachal Pradesh Vol. 54, Issue No. 5, 02 Feb, 2019 Borders are the gateway to growth and development in the trajectory of contemporary economic diplomacy. They provide a new mode of interaction which entails de-territorialised economic cooperation and free trade architecture, thereby making the spatial domain of territory secondary in the global economic relations. Taking a cue from this, both India and China looked ahead to revive their old trade routes in order to restore cross-border ties traversing beyond their political boundaries. Borders are the gateway to growth and development in the trajectory of contemporary economic diplomacy. They provide a new mode of interaction which entails de-territorialised economic cooperation and free trade architecture, thereby making the spatial domain of territory secondary in the global economic relations. Taking a cue from this, both India and China looked ahead to revive their old trade routes in order to restore cross-border ties traversing beyond their political boundaries. The reopening of the Nathula trade route in 2016 was realised as a catalyst in generating trust and confidence between India and China. Subsequently, the success of Nathula propelled the academia, policymakers and the civil society to rethink the model in the perspective of Arunachal Pradesh as well. So, the question that automatically arises here is: Should we apply this cross-border model in building up any entrepôt in Arunachal Pradesh? The response is positive and corroborated by my field interactions at the ground level.
    [Show full text]
  • India's Northeast: the Super-Highway to Southeast Asia?
    NO 104 IPCS ISSUE BRIEF JUNE 2009 India’s Northeast The Super-highway to Southeast Asia? Wasbir Hussain Director, Centre for Development and Peace Studies, Guwahati, Assam India’s Northeast can rightly be described as the and industry in the region is retarded by its location beginning of Southeast Asia. Lack of proper or no and reversing this trend continues to be among the connectivity has deprived India’s Northeast — a major challenges facing this frontier. Until about 150 vast swathe of land inhabited by nearly 40 million years ago, India’s northeastern frontier was in the people — from the trickle-down effect of the forefront of development with good access to booming tiger economies in the region’s South international trade and investment. But today, Asian neighbourhood. With foreign linkages in Northeast India is one of the most backward regions mind, the Government of India launched the of the country mainly as a consequence of geo- Look East Policy in 1992 with a view to usher in politics. development in Northeast India by connecting it with the Southeast Asian neighbourhood. India’s partition in 1947 not only pulled the region backwards by at least a quarter of a century, but How to strengthen and expand the linkages also placed hurdles on future economic growth. between these two regions? What are major Partition isolated the region, sealing both land and bottlenecks? How can they be addressed? sea routes for commerce and trade, and cutting access to traditional markets, specifically the I gateway to the East and Southeast Asia—the Chittagong port in East Bengal (now Bangladesh).
    [Show full text]
  • Uttar Pradesh Warehousing and Logistics Policy 2018
    Uttar Pradesh Warehousing and Logistics Policy 2018 1. Introduction With emergence of new technologies, new customer expectations and new business models, the logistics industry is rapidly expanding round the globe. In terms of revenue, the industry is expected to expand at a CAGR of 7.5% between 2015 and 2024 (Transparency International Report, 2016). Asia Pacific is the largest and rapidly growing market in the world, with India as one of most promising markets. India’s logistics performance index ranking has been improving, and shot up by 19places to 35th position in 2016 (World Bank). The industry is expected to grow at a CAGR of 15-20% between 2016 and 2020 (CARE Ratings, 2016), and by 2019 the Indian logistics industry is expected to reach over INR 13,000 Crores. Share of freight transportation in India through road constitutes about 60% of the total freight traffic, while Rail and coastal shipping account for about 32% and 7%, respectively. Share of inland waterways transportation and air is less than 1% each1, signifying scope of expansion with development of National Waterways programme and Regional Connectivity Scheme in aviation sector. Recently, 100% FDI under automatic route for all logistics services has been allowed (except in air cargo and courier where 74% FDI is allowed). And, Goods & Services Tax (GST) is likely to bring down total costs of logistics industry. Earlier, companies had to maintain warehouses in every state due to different taxation slabs2. But with the implementation of GST, the need to have several small warehouses is likely to be mitigated in favour of larger and consolidated warehouses at strategic locations.
    [Show full text]
  • Economy of Uttar Pradesh
    UPPSC | ECONOMY | 3 UPPSC Prelims POLITY & GOVERNANCE CONTENTS $ Economy of Uttar Pradesh ........................................................................ 5 $ Industries ................................................................................................... 5 $ Industrial & Infrastructure Policy, 2012 ................................................ 11 $ Industrial Authority in Uttar Pradesh ................................................... 12 $ Government Initiatives in Uttar Pradesh for Industrial Development ............................................................................................ 13 $ Energy Resources in Uttar Pradesh ....................................................... 14 $ Mineral resources .................................................................................... 20 $ Transport System ..................................................................................... 23 $ Budget of Uttar Pradesh ......................................................................... 30 4 UPPSC | ECONOMY | ECONOMY OF UTTAR PRADESH $ Uttar Pradesh is the fourth largest state in India and has the largest population. The state’s population of 200 mn is equivalent to the population of Brazil. $ The state falls under the infl uence area of key industrial corridors such as North-South and East-West (NS-EW) Corridor and several expressways and highways, conveniently connecting it with remote parts of the country. $ The key industries in the state include food processing, information technology (IT),
    [Show full text]
  • Dehradun Chapter Has Wel-    Conservators of Students of Various Disciplines
    ! - 0#!%& %1!! 23!411*531$6%&7%1!! %+$531$6%&7%1!!6 SIDISrtVUU@IB!&!!"&#S@B9IV69P99I !%! %! ' 1"3)! (#& .,.,/ 0. (1 23,43*5 '4&%!;1$ ,9#)9 ; 9 ) .. ) 9. ; .> 9). . ?#. .9## . . ,. <. = >< ! % ,)2" # 8%9'3+!%277&%34&! 4 5 67 8 R he tense situation on the TLine of Actual Control (LAC) has further aggravated with India thwarting yet anoth- er aggressive move by the Chinese in Eastern Ladakh. The Chinese troops also fired warning shots in the air but the Indian Army main- tained calm. China, however, ive youths who had report- claimed it was the Indians who Fedly been abducted by used firearms after breaching China’s PLA from Arunachal the border. This is the first time Pradesh last week have been in more than 45 years that shots located on the Chinese side. were fired on the LAC. The PLA has confirmed This provocative act by the presence of the missing the Chinese on Monday took youths and modalities are place in the southern region of being worked out between the Pangong Tso (lake) in the two sides for their han- Eastern Ladakh. The PLA sol- dover to the Indian Army. diers tried to dislodge the “China’s PLA has respond- Indian Army troops now posi- ed to the hotline message sent tioned on the strategically- by Indian Army. They have important hill tops in the area. confirmed that the missing When they were warned, the youths from Arunachal Chinese fired a few shots in the Pradesh have been found by air. However, there were no spears, long knives and auto- attempting to close-in with their side.
    [Show full text]
  • Construction of Roads in Uttarakhand
    UTTARAKHAND RELIGIOUS DESTINATIONS COME CLOSER UTTARAKHAND Himachal Pradesh Punjab UTTARAKHAND Haryana Uttar Pradesh The State of Uttarakhand, often called “Devbhoomi”, is a popular destination for religious and adventure tourism. A network of stronger, safer, all weather roads is being built, in the State over the past four years. Till 2014, the length of National Highways was 2,509 km. In 2018, NH length has reached 3,492 km. The completion of the Delhi-Meerut Expressway and Delhi Saharanpur Highway will result in greater savings in time, cost and fuel for Uttarakhand bound vehicles. Over Rs. 5,000 Cr will be invested to build 983 km of new National Highways. Work is in progress on 66 projects worth Rs. 12,300 Cr, spanning a length of 800 km. Under Chardham programme, 37 projects of 633 km length, worth a total cost of Rs. 8,500 Cr have been sanctioned. Out of these 23 projects of 385 km length worth Rs. 4,100 Cr are ongoing and the remaining ones are at tender/award stage. A total of Rs. 30,000 Cr worth investments will be made towards road development in the State. “When a network of good roads is created, the economy of the country also picks up pace. Roads are veins and arteries of the nation, which help to transform the pace of development and ensure that prosperity reaches the farthest corners of our nation.” NARENDRA MODI Prime Minister “In the past four years, we have expanded the length of Indian National Highways to 1,26,350 km. The highway sector has seen a 20% growth between 2014 and 2018.
    [Show full text]
  • PNC Infratech
    Result Update Rating matrix PNC Infratech (PNCINF) | 152 Rating : Buy Target : | 190 Target Period : 12-18 months Potential Upside : 25% HAM projects to keep execution strong… PNC Infratech’s (PNC) revenues grew significantly by 108.0% YoY to What’s changed? | 558.6 crore in Q2FY19 led by strong execution. However, it was Target Changed from | 215 to | 190 below our expectation of | 603.3 crore EPS FY19E Changed from | 7.4 to | 7.3 EBITDA margin contracted 142 bps YoY to 13.4% on account of EPS FY20E Changed from | 10.4 to | 10.3 higher raw material expenses (68.3% as percentage of revenues in Rating Unchanged Q2FY19 vs. 65.3% in Q2FY18) and in line with our estimate of 13.6% PAT grew robustly by 110.9% YoY to | 35.1 crore in Q2FY19, below Quarterly Performance our expectation of | 59.4 crore mainly on account of lower-than- Q2FY19 Q2FY18 YoY (%) Q1FY19 QoQ (%) Revenue 558.6 268.6 108.0 735.5 -24.0 expected topline growth and higher tax rate of 21.6% in Q2FY19 EBITDA 74.6 39.7 88.0 129.4 -42.4 Strong order book provides revenue visibility… EBITDA (%) 13.4 14.8 -142 bps 17.6 -424 bps PNC’s orderbook was strong at | 6119 crore, providing strong visibility PAT 35.1 16.6 110.9 102.5 -65.8 over the next two to three years. However, this does not include some projects viz. two EPC packages of Purvanchal Expressway worth | 2520 Key Financials crore, Nagpur-Mumbai expressway EPC package worth | 2000 crore and (| crore) FY17 FY18 FY19E FY20E three HAM projects worth | 3834 crore.
    [Show full text]
  • Oriental Structural Engineers Limited
    Profiles of Key Developers and Contractors Oriental Structural Engineers Limited © India Infrastructure Research | November 2020 www.indiainfrastructure.com 102 Profiles of Key Developers and Contractors Company Overview Parameters Details Year of Incorporation June 1971 Unexecuted EPC and coal mining order book position of Rs 42.05 billion (Rs 38.21 billion EPC and Rs Order Book (As of September 30, 2019) 3.84 billion coal mining) • The company operates in four main verticals - highways EPC, highways BOT, mining development and operations and optical fibre cable laying. • The company has constructed 7,250 lane km of highways and has invested over Rs 135 billion in Details the BOT business • OSE along with its wholly-owned subsidiary, Oriental Tollways Private Limited (OTPL) has a portfolio of seven road projects under various special purpose vehicles (4 BOT Toll and 3 HAM), of which 4 BOT projects are operational and 3 HAM projects are under execution. Ongoing projects • 4 BOT projects and 2 EPC road projects Segment-wise Share in Order Book (as of September 30, 2019) Overall Order Book 100 Coal mining 80 9% 86.26 60 66.92 EPC segment 40 91% Rs billion Rs 20 42.05 0 September 30, 2017 June 30, 2018 September 30, 2019 Source: Care ratings • As of October 2020, OSE has achieved Financial Closure of Rajiv Chowk Sohna road, Kallagam-Kuruppur, Villupuram-Puducherry and Binjhabahal Telebani Hybrid Annuity Project. • Oriental has bagged 3 Hybrid annuity projects from NHAI, one in Gurugram and two in the State of Tamil Nadu valuing 2644 Crores under Bharatmala Pariyojana. © India Infrastructure Research | November 2020 www.indiainfrastructure.com 103 Profiles of Key Developers and Contractors Financial Performance Net Worth • Over the period from 2013 to 2017, the net worth of 18 OSEL has witnessed an increasing trend in the net worth, 16.44 16 increasing from Rs 10.99 billion in 2013 to Rs 16.44 14.21 14 12.99 billion in 2017 recording a CAGR of 10.59%.
    [Show full text]
  • Infrastructure
    Thematic | October 2017 Infrastructure Time to speed up Amit Shah - Research Analyst ([email protected]); +91 22 3029 5126 Ankur Sharma - Research Analyst ([email protected]); +91 22 3982 5449 Investors are advised to refer through important disclosures made at the last page of the Research Report. Motilal Oswal research is available on www.motilaloswal.com/Institutional-Equities, Bloomberg, Thomson Reuters, Factset and S&P Capital. Infrastructure | Time to speed up Contents Time to speed up .................................................................................................................. 3 Infographics .......................................................................................................................... 5 Programs entailing INR7t investment already in place .......................................................... 7 State infrastructure: Abundant opportunities ..................................................................... 13 Policy amendments key to revival of sector ........................................................................ 14 Sunny days ahead ............................................................................................................... 17 Funding in place .................................................................................................................. 23 Applying 3-S scale to pick potential winners ....................................................................... 25 Companies ...............................................................................................................
    [Show full text]