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Monday, 09 Jul 2018

71st Projex Investment Survey: Surge in projects, slump in projex

As per the 71st Projex Investment Survey conducted by Projects Today, 2,424 new projects were announced in the first quarter of the current fiscal (Q1/FY19).  Around 238 more projects than the 2,176 projects announced in the preceding quarter.

However, the same buoyancy was not seen in fresh project investment. The sharp fall in the number of mega projects (investment of Rs 1,000 crore or more) dragged down the fresh investment amount by 29.6 percent on Q-o-Q basis.  The last quarter of the fiscal 2017-18 had seen announcement of 68 mega projects. This number came down sharply to 36 projects in the first quarter of the current fiscal. As a result, the total fresh projex came down from Rs 2,79,241.5 crore in Q4/FY18 to Rs 1,96,501.8 crore.

Fresh projex by the government sector, which is peddling the country’s projex cycle in the recent years, slowed down considerably in Q1/FY19. As a result, the total new projex by the government sector declined by 47.4 percent on Q-o-Q basis. This in return pulled down the overall growth in fresh investment by 29.6 percent.

As against 1,776 govt projects worth Rs 2,06,780.3 crore announced in Q4/FY18, around 1,856 new projects worth Rs 1,08,739.9 crore were announced in Q1/FY19. Again fall in the number of mega projects saw shrinkage in total quantum of fresh projex despite increase in number of new projects.

In the last quarter of 2017-18, the government sector had announced 45 mega size projects pledging investment of Rs 98,102 crore. The number of such mega projects came down to just 11 in Q1/FY19.

Private sector, which is showing some signs of revival in fresh investment announcements not only announced 168 more projects, but also saw fresh investment increase by a respectable 21.1 percent during the quarter ended 30 June 2018 on Q-o-Q basis. As against 400 new projects worth Rs 72,461.2 crore announced in the last quarter of 2017-18, 568 new projects entailing a total investment of Rs 87,761.9 crore were announced in Q1/FY19.

Among the major sectors, baring the Power sector, Manufacturing, Infrastructure, Mining and Irrigation sectors failed to enthuse project promoters and attract increased investment proposals.

Projex Survey 71

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