31st October 2020

Confidant Classes

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New investment proposals increased

New investment proposals increased dramatically in the second quarter of this year, increasing 107% in the first quarter, with 2,219 new projects involving an investment of Rs.2.19 lakh.

  • Private sector investment also recovered significantly, increasing 87% from the previous quarter, when a large displacement caused the economy to contract 23.9%.
  • Year-over-year, new investment between July and September was still 11.32% lower, but marked a strong rebound in investment in the first quarter, almost 73% lower.
  • Among the states, Chhattisgarh received the largest investment in the second quarter, followed by Tamil Nadu, which surpassed new investment in the first quarter, according to the latest Projects Today report on investment announcements for the July quarter September.
  • Karnataka was third on the list, followed by Gujarat and Maharashtra. Chhattisgarh’s total investment in the quarter of Rs. 35,771 crore was boosted by Rs. 22,653 crore Bodhghat irrigation project and public sector coal mining projects worth Rs. 8,200 crore.
  • Tamil Nadu received 132 projects worth Rs 23,332 million in the same period.
  • Projects Today director and CEO Shashikant Hegde said it would be too early to proclaim a return to normalcy, but the impressive surge in new investment proposals, increased tenders, and a sharp increase in the number of project contracts concluded in the second quarter compared to the previous quarter indicates a rebound in investment activity in projects in India.

Workforce, supply chains

  • The project execution rate (investment projects in execution as a percentage of total pending investments) improved a little, from 37% in the first quarter to 37.53% in the second quarter.
  • This indicates that at the field level, project implementation did not progress much in the second quarter. Painful issues such as labor shortages, supply chain disruptions and liquidity also persisted in the second quarter.
  • Private sector investment in the second quarter was only 7% lower than a year ago, with 618 new projects worth Rs. 83,608.2 crore.
  • This was almost double the 315 new projects worth Rs. 44,714.6 crore announced in the first quarter, but still well below the average quarterly investment of ₹ 1.69 lakh crore and ₹ 1.32 lakh crore in 2018 -19 and 2019-20, respectively.
  • While the increase in investment in new projects has spread to all major sectors, the growth registered in the manufacturing sector has been very interesting, the firm said in its quarterly project monitoring report.
  • Investments in the manufacture of fresh products increased by 31.3% compared to the previous quarter and were even 19.8% higher than in the second quarter of 2019-20.

Manufacturing, Real Estate

  • A total of 315 new projects worth Rs 35,195.68 million were announced in the second quarter, of which approximately 96% came from private developers, the report said.
  • A Vikram Solar solar cell and modules project in Tamil Nadu worth Rs 5,423 crore was the largest private manufacturing investment announced, followed by Edison Motors’ electric vehicle project in Uttar Pradesh valued at Rs. 5000 crore.
  • No fewer than 98 new pharmaceutical and pharmaceutical projects were announced, most of which were aimed at producing active pharmaceutical ingredients, or APIs, currently imported from China for Jubilant Generics.
  • The Karnataka 864 API and Pharmaceutical Intermediate Manufacturing Project was the largest pharmaceutical company of the quarter.
  • Infrastructure continued to account for half of all new projects in the second quarter, from 1,085 projects worth Rs 58,583 million in the first quarter to 1,751 projects worth nearly Rs 1. Rs 16 million lakh.
  • The real estate and construction sectors, one of the biggest job generators in recent years, have also experienced some kind of recovery, with announcements of new projects returning to practically the same levels as a year ago.
  • Although the gradual unlocking of the economy in the second quarter of FY21 did not generate an increase in the pace of project execution due to labor and liquidity problems, it announced new accelerated projects, the report says.
  • New commercial realty projects doubled from 224 (worth Rs.  7,326 crore) in Q1 to 450 projects worth Rs.  33,969.3 crore in Q2. In the second quarter of 2019-20, 451 new projects worth Rs.  30,371.7 crore were announced.
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