Mumbai, Feb 12: Maharashtra’s Transport Minister, Pratap Sarnaik, has invited developers to participate in the development of the Maharashtra State Road Transport Corporation (MSRTC) land bank, spanning 3,360 acres.

Speaking at the NAREDCO NextGen Conclave 2025 in Mumbai on Wednesday, Sarnaik emphasised that the redevelopment of bus depots across districts, talukas, and rural areas would be undertaken on a fast-track basis.

He announced that the state government is set to float 150 to 160 tenders for the project soon.

To facilitate this transformation, renowned architect Hafeez Contractor has been appointed to prepare a development plan for MSRTC bus depots. Sarnaik highlighted the strategic importance of these land parcels and urged developers to explore commercial and residential opportunities beyond urban centers.

In a key policy move, the Minister revealed that MSRTC will be designated as a Planning Authority, streamlining project approvals under a single-window system. He added that the corporation’s technical team will be strengthened to efficiently manage the approvals and execution process.

Encouraging developers to venture beyond metro cities, Sarnaik pointed out the potential in semi-urban and rural areas, stressing that real estate growth in these regions would contribute significantly to the state’s overall development.

Sarnaik also noted that land parcels in Lonavala-Khandala and Mahabaleshwar — which are currently restricted under forest and no-development zones — would soon be included under the new Development Control and Promotion Regulations (DCPR). This change would allow for a higher Floor Space Index (FSI), unlocking new development opportunities.

Additionally, the government is working to extend land lease periods from 60 years to 99 years, making projects more financially viable for developers.

At the conclave, Sarnaik also launched the NAREDCO NextGen ‘Digital Learning Hub’, an online learning platform designed for young real estate professionals. The hub will offer insights into emerging trends, advanced technologies, and policy updates through collaborations with leading institutions, providing certification programs to nurture the next generation of real estate leaders.

Bengaluru, Feb 12: The Adani Defence and Aerospace stall, showcasing futuristic technology, has been one of the main attractions at Asia’s largest five-day air show and the 15th edition of the country’s premier aerospace exhibition ‘Aero India 2025’ in Bengaluru.

Focusing on cutting-edge technology, the spacious stall features state-of-the-art weaponry. The highlight of the display is the ‘Vehicle-Mounted Counter-Drone System’, developed in collaboration with the Defence Research and Development Organisation (DRDO).

The stall presents futuristic weaponry across four layers of defence, covering protection, detection, neutralization, and the use of artificial intelligence in safeguarding national borders.

Speaking to media, Ashish Raghuvanshi, CEO of Adani Defence and Aerospace, stated, “All the capabilities we are working on are on display at the show. From drones to small arms, ammunition, missiles, surface-guided missiles, and most importantly, artificial intelligence and advanced machinery, Adani has been working closely with the defence sector.”

Ashok Wadhwan, Head of Land Systems, said, “We aim to become strategic partners of the defence forces. Our focus is on futuristic technology, developing products that go beyond their expectations. If they can imagine a capability, we want to turn it into reality and build those advanced systems in India.”

Providing details about the display, Wadhwan elaborated, “We have structured our technology into four layers. The first layer focuses on protection, which includes unmanned vehicles and unmanned underwater systems designed for initial surveillance and threat detection.”

He continued, “The second layer is detection, which includes aircraft converted into aerial surveillance platforms — our ‘eyes in the sky’. We are focusing on detection across land, air, and underwater domains. The third layer is neutralization, which includes loitering objects, missiles, and other ammunition. The final layer comprises advanced weaponry, including firearms.”

“In addition, we are showcasing artificial intelligence-powered solutions designed to protect forces. Our capabilities are built to detect, neutralize, and safeguard borders,” he said.

“Our primary focus is on the Indian Army, Navy, and Air Force, though exports are also part of our strategy. However, our priority remains our national defence forces,” Wadhwan underlined.

“We are collaborating with Defence Public Sector Units (DPSUs) rather than competing with them. Our aim is to partner with them to enhance national defence capabilities,” he added.

Discussing the partnership with DRDO, he explained, “We work closely with DRDO as a Development cum Production Partner (DcPP) for missiles and counter-drone systems. We have localized these technologies and successfully delivered them to the armed forces.”

Highlighting the significance of the Vehicle-Mounted Counter-Drone System, Ashish Raghuvanshi, CEO of Adani Defence and Aerospace stated, “Electronic warfare is a crucial aspect of future air defence. Drones pose significant threats to both civil and military establishments. The system displayed here can detect drones of all sizes and offers users multiple options for neutralization.”

“Operators can choose between a soft-kill jammer or a hard-kill laser. This innovation is a major advancement for the country, developed under a public-private partnership. We will continue to innovate and improve these solutions,” he added.

Emphasizing the importance of detection in electronic warfare, Raghuvanshi noted, “Detection is a critical component of electronic warfare. Our modular and effective solution can distinguish between a friend and a foe, enhancing operational security.”

On the benefits of partnering with DRDO, he said, “For example, DRDO’s Centre of Excellence for missiles is among the best in the world. Strengthening public-private partnerships will help elevate these technologies to the next level, ensuring India remains at the forefront of defence innovation.”

New Delhi, Feb 11: Indian Railway Catering and Tourism Corporation (IRCTC) on Tuesday reported a 13.7 per cent rise in its consolidated net profit to Rs 341 crore for the October-December quarter of the current financial year compared to the corresponding figure of Rs 300 crore in the year-ago period.

The total revenue from operations increased 10 per cent to Rs 1224.7 crore during the quarter under review from Rs 1,115.5 crore in the year-ago period, IRCTC said in an exchange filing.

The board of Indian Railway Catering and Tourism Corporation (IRCTC) approved a second interim dividend of Rs 3 per share along with its financial results for the third quarter of the financial year 2024-25 (FY25) on Tuesday.

“The Board of Directors of the company at its meeting held today (Tuesday, l1th February 2025), has inter-alia declared 2nd interim dividend at the rate of Rs 3/- per equity share of the face value of Rs 2 each i.e. @150 per cent for the Financial Year 2024-25,” IRCTC said in an exchange filing.

The public sector undertaking (PSU) has fixed Thursday, February 20, as the record date for determining the eligibility of shareholders for receiving the said interim dividend.

A segment-wise breakup of the revenue stream shows that the catering segment earnings grew to Rs 554.81 crore in Q3 FY25 from Rs 507.76 crore in Q2 FY25, recording a growth of 9.26 per cent. Meanwhile, the packaged water drinking segment Rail Neer saw a 15.02 per cent YoY to Rs 96.35 crore.

The internet ticketing revenue recorded a 5.4 per cent growth to Rs 353.72 crore in the December quarter. The tourism segment revenue was up 16 per cent YoY to Rs 223.73 crore.

Indian Railway Catering and Tourism Corporation reported a 4.5 per cent increase in standalone net profit to Rs 307.8 crore for the quarter ending September 30, 2024. Net profit in the year-ago period stood at Rs 294.7 crore. Revenue from operations during the period under review stood at Rs 1064 crore, up 7.3 per cent y-o-y. In the year-ago period, standalone revenues were Rs 992 crore.