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Gammon India

Surat: Cable-stayed bridge over river Tapi not likely to become operational in near future

Surat: Cable-stayed bridge over river Tapi not likely to become operational in near future
In Surat, the ambitious Rs 143-crore project involving the construction of the 918 m-long cable-stayed bridge over river Tapi has been shrouded with uncertainty for the last nearly one year now. The construction of the cable-stayed bridge – which connects Athwalines to Pal – was scheduled for completion in May 2013. But, even after a [...] Continue Reading »

The promoters of Gammon India have decided to raise a contribution of 100 crore

The promoters of Gammon India have decided to raise a contribution of 100 crore
The promoters of Gammon India along with their affiliates have recently decided to raise about a 100 crore as ‘Promoter Contribution’. This will be done by subscribing towards all shares of equity that have been allotted to them on the basis of preference so that the restricting package of debt  which has been sanctioned by [...] Continue Reading »

Developers entering a lot of land deals

Developers entering a lot of land deals
In the past few weeks a slew of land deals for property firms in the city have brought in a mixed bag of results. Even as the bigger, cash-rich firms are raking in the moolah, quite a few others in the face of an economic downturn are still struggling with slow sales and delayed projects. [...] Continue Reading »

Developers all-out buying land

Developers all-out buying land
For property firms in the city, in the past few weeks a slew of land deals have brought in a mixed bag of results. Though the bigger, cash-rich firms are raking in the moolah, the remaining few others are working hard with slow sales and delayed projects in the face of an economic downturn. By [...] Continue Reading »

Bankers are going to ‘investigate’ construction firms before debt restructure

Bankers are going to ‘investigate’ construction firms before debt restructure
Banks have started insisting on investigative audits for engineering, procurement and construction (EPC) units who are looking to recast their loans. A forensic team will evaluate such companies and reduce the chances of any ‘package failure’ in corporate debt restructuring (CDR). The bankers will look in a detailed manner in case of all the related [...] Continue Reading »

Gammon India board may discuss restructuring plan at upcoming meet

Gammon India board may discuss restructuring plan at upcoming meet
Gammon India’s board is going to discuss the restructuring plans at the upcoming meet. The company informed that the boards of directors will focus on different options of restructuring of the Gammon Group at an upcoming meeting. The moves were approved by the CDR cell in June last year. The civil contractor got Rs 13,500 [...] Continue Reading »

Gammon Infra and NHAI stop concession pacts for two projects

Gammon Infra and NHAI stop concession pacts for two projects
The Gammon Infrastructure and NHIA have stopped the concession pacts for two road projects because of the lack of land clearances. The 2 projects allotted to Gammon in 2012, consists of the Yamuna agar Panchkula project in Haryana and the Birmitrapur Barkote project in Orissa. Gammon Infrastructure informed that the terminations were done by the [...] Continue Reading »

Write-offs of Rs 280 cr adds up Gammon India loss to Rs 454 cr

Write-offs of Rs 280 cr adds up Gammon India loss to Rs 454 cr
Write offs of Rs 280 crore have further added to the losses of Gammon India. Due to write offs Gammon India has faced a loss of Rs 454 crore.  This has been reported in the audit result done in December. The net sale decreased by 16.3% to Rs 1,020 crore and loss of Rs 150 [...] Continue Reading »

Neptune, Lodha look to buy Gammon India Mumbai plot

Neptune, Lodha look to buy Gammon India Mumbai plot
Mumbai-based Neptune Group and Lodha Developers are looking to Gammon India’s 185 acre land in Dombivli. They have also submitted their offers for the same. The plot is about 185 acre in size and was put on the block in mid 2013. It has been learnt from the sources that the offer of the Neptune [...] Continue Reading »



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