Mumbai (Maharashtra)[India], October 13 (ANI/BusinessWire India): The National Highways Authority of India (NHAI) has been racing ahead having awarded 60 per cent more length of projects during the first half of FY 2020-21 as compared to the same period last year, despite the Covid-19 pandemic.
It is also the highest length of projects awarded in the last three years, during the same period. No wonder then, that the fastest growing construction companies that are being selected after analysing their last six years' annual performances, are those that have managed to grab a lion's share in the contracts awarded.
The NHAI has set a target of awarding 4,500 km of projects during 2020-21 and is likely to exceed the target. According to the NHAI website, DilipBuildcon, Larsen & Toubro (L & T), IRB Infrastructure Developers (IRB Infra), Ashoka Buildcon, PNC Infratech and G R Infra projects are some of the companies that have been issued letter of awards in FY21.
All these companies have figured in India's annual listing of Fastest Growing Construction Companies, analysed and compiled annually by First Construction Council - an infrastructure think-tank which has been tracking construction companies since 2003.
An independent jury vetted the financial rankings and this year it comprised of Vipul Roongta, Managing Director and CEO, HDFC Capital Advisors; Benjamin Breen, Managing Director, Asia Pacific Global Head of Construction, Project Management Institute, Singapore; Farid Ahmed, Head Marketing - OHT, Apollo Tyres; Mohamed Ali Janah, President, IFAWPCA, Maldives; Pradeep Singh, Former Vice Chairman, IDFC Projects; RK Narayan, COO, Allcargo Logistics Park; and Vijay Agrawal, Executive Director, Equirus Capital.
The companies are divided in three categories namely Large (more than Rs 7,500 crore); Medium (between Rs 2,000 crore and Rs 7,500 crore); and Small (less than Rs 2,000 crore). The large category is likely to see a close contest between GR Infra, AFCONS and DilipBuildcon while the medium and small categories are seeing a closely fought battle between Dinesh Chandra R Agarwal Infracon, APCO, PNC, Welspun and others.
The above companies will be awarded on 16th October as part of the 6th India Construction Festival which will be held virtually, where the Chief Guest is NHAI Chairman - Dr Sukhbir Singh Sandhu.
The Construction Equipment industry, which received a reprieve as the emission norms which were to be made effective from 1 October 2020 has now been deferred to 1 April 2021, is also being adjudged on its bestselling categories.
Ammann India in Asphalt Finishers, JCB India in Backhoe Loaders, CASE India in Compaction Equipment, BEML in Crawler Dozers and Rigid Dump Trucks, Tata Hitachi in Crawler Excavators and Mini Excavators, Action Construction Equipment in Mobile Cranes and Doosan Bobcat India in Skid-steer Loaders are slated to be the movers and shakers in their respective categories.
Dr Brijesh Dixit, Managing Director, Maha-Metro Rail Corporation Ltd has been selected as the CONSTRUCTION WORLD Person of the Year 2020 from the public sector, and KVB Reddy, MD, L & T Metro Rail has been adjudged the CONSTRUCTION WORLD Person of the Year 2020 from the private sector. V.G. Sakthikumar, MD, Schwing Stetter India, has been adjudged the EQUIPMENT INDIA Person of the Year.
INDIA CONSTRUCTION FESTIVAL is scheduled on October 15-16, 2020 virtually. The list of winners will be released on October 17 on the website of www.FIRSTconstructionCouncil.com
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/ BusinessWire India)
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