Construction industry to record double digit growth

Construction and building firms may register double digit growth in Jan-March as an economic rebound and government spending promotes the country’s realty sector, according to industry experts and analysts.

Between 2007 and 2012, India plans to spend $514-billion with private firms contributing 36 per cent.

India’s 2010-11 budget allocated 46 per cent of the total plan allocation amounting to Rs17 trillion for infrastructure development in the country.

IVRCL Infrastructures is expected to post a 11.20 per cent hike in net profit and Lanco Infratech a 58.63 per cent jump. However, engineering firm Engineers India is slated to post 19.25 per cent drop in profit.

HCC’s order book should drive revenues up 22 per cent over fiscal 2010-2012. HCC, which won Rs4.9 billion from tunnelling contracts and metal sector clients this quarter, is expected to post a 10.7 per cent year-on-year growth in sales.