Workers labor at a Chennai Metro Rail Ltd. construction site in Chennai, Tamil Nadu, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Infrastructure Orders Fall To Lowest In Five Quarters

Order inflows for infrastructure in the three months ended December fell the most in five quarters due to fewer contracts awarded by power, state highways or building divisions.

The infrastructure segment received orders worth Rs 74,000 crore, the lowest since September 2017, in the October-December period, according to financial services firm Investec.

Infrastructure Orders Fall To Lowest In Five Quarters

This also comes at a time new projects announced during the three months ended December fell to the lowest level seen over the tenure of the Narendra Modi-led government, showed data from the Centre For Monitoring Indian Economy.

“A large number of projects have already been announced in the public infrastructure space and execution of these large projects is key for the government,” Vinayak Chatterjee, chairman of Feedback Infra Pvt. Ltd., said.

Order inflows also slowed down for the water division, Investec said in its report. The hydrocarbons segment, however, witnessed an uptick in contracts awarded in the quarter ended December, it said.

Also read: Pace Of Road Construction Fastest In Four Years

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