The Interim Budget for 2024 indicates a significant shift for India's goal of achieving Net Zero status - Mr. Deepak Rai, Managing Director Of Bootes- India’s First Net Zero Company
New Delhi: “The Interim Budget for 2024 indicates a significant shift for India's goal of achieving Net Zero status. The country is poised for a surge in both residential and commercial construction, with the third highest rate of green building growth in the world. By 2027, the construction market in India is projected to reach Rs.117 trillion, with an expected compound annual growth rate of 17-21% from 2022-2027. Investments in infrastructure, particularly roads and railways, are set to increase significantly, with expected year-on-year growth rates of 21% and 15%, respectively, supported by capital outlay from both the Centre and State governments. Companies involved in urban infrastructure, transportation, and housing construction are expected to see a 17% revenue growth in 2024. The Interim Budget for 2024 has established the foundation for this growth by increasing capital infrastructure spend by 11% along with infrastructure and connectivity upgrades which will benefit the tier 2 & 3 cities across the country. The building infrastructure including medical colleges, affordable housing will be a direct growth beneficiary. Recognizing the growing interest in domestic tourism, the Interim Budget 2024 has made provision to provide long-term interest free loans to be provided to States to encourage development, in addition to projects for improved port connectivity, tourism infrastructure and amenities.
BOOTES has major focus and delivering infrastructure projects in tier 2 & 3 cities and is building Net Zero infrastructure for the Tourism sector. Furthermore, the government's commitment to green transition aligns with Bootes' sustainability goals. BOOTES welcomes these measures as it gives us the opportunity to triple our business in the next fiscal and looks forward to contributing to the nation's 2070 Net Zero goals.
We believe an encouraging fiscal policy will have a positive impact on the EPC sector in several ways, including improving stability in input prices and increasing the order-to-revenue ratio, leading to enhanced revenue visibility. From Year 2024, we anticipate that 78% of new commercial buildings constructed in India will be green, presenting a significant expansion opportunity. With the appropriate financial support, Net Zero Construction Technology Companies such as BOOTES will be able to enhance their growth and financial performance by improving operational efficiency, stabilizing working capital requirements, and reducing dependence on external debt. This will enable us to expand our range of energy-efficient construction technologies, including cutting-edge cooling and heating solutions for new buildings addressing the opportunity in the Green Building/Net Zero space.”
About BOOTES
Headquartered in Gurgaon, BOOTES is India’s first Net-Zero Company with the vision to be the pioneers in transformative and sustainable building solutions and, to redefine construction industry benchmarks towards a greener, healthier and Net-Zero/Aatmanirbhar Bharat. The company provides 360-degree solutions: Design, Build, Finance, Operate, and Transfer with best-in-class technologies that reduce Operating Costs & Carbon Footprint. BOOTES delivers sustainable and Aatmanirbhar infrastructure to actualise India’s Net-Zero goals 2070.
