Lowest in last 21 quarters
In Q2/FY19, 116 projects were stalled by their promoters. This is the lowest number of stalled projects in a quarter in the last 21 quarters. In terms of cost, the country lost Rs 69,086.58 crore worth of projex. The previous low of Rs 42,889.15 crore was seen in Q3/FY16.
Around 77 percent of the total projex shelved were by private promoters. In all, 93 projects worth Rs 53,529.6 crore were put on the back burner by their private owners.
Among major sectors, the Manufacturing sector accounted for 39.4 percent of the total projex shelved. Followed by the Electricity sector (31.2 percent) and Infrastructure (27.5 percent).
Ten each cement and steel projects together valued at Rs 24,857 crore accounted for bulk of the projex vanished in the Manufacturing sector. This included Rs 12,000 crore integrated steel project of Uttam Galva Steel, and Rs 2,500 crore cement project of UltraTech which were the mega projects to be stalled.
In the Electricity sector, Rs 12,800 crore Dholera coal-based power project of GSEC and Rs 5,813 crore Ponneri coal-based power project of North Chennai Power Company were the two large projects to be shelved.
Apart from the Rs 10,000 crore Lavasa lake city project, the infrastructure sector saw 13 Real Estate, seven food parks and two SEZs being relegated to the back burner by their respective promoters.