This comprehensive analysis by Biltrax Construction Data delves into industrial construction trends in the East and West Zone for FY 2023-24. Leveraging data from the BX-2 platform, the report highlights the manufacturing and warehousing segments of the sector. It explores significant trends and the leading players driving construction activities in these regions.
Introduction
India’s industrial landscape reflects its vast geographical diversity, with each region playing a distinct role in the country’s economic growth. In this continuation of our ‘Zonal Analysis, Series: 2’ (Part 3 of 4), we explore industrial development across two critical zones: the East and West. The East Zone has experienced dynamic manufacturing and warehousing growth, driven by regional and national initiatives. Meanwhile, the West Zone has established itself as an industrial powerhouse, emphasizing advanced manufacturing, technology-driven industries, and expansive warehousing capabilities.
This analysis provides an extensive overview of the industrial landscape in these zones during FY 2023-24. It further highlights key trends, investments, and the influence of regional policies on shaping the regions’ industrial trajectories.
Overview
While both zones implemented several industrial initiatives during FY 2023-24, the East Zone focused primarily on promoting small and medium enterprises (SMEs) through subsidies and tax incentives. In contrast, the West Zone concentrated on attracting large-scale investments and fostering public-private partnerships to boost high-tech industries. These differing policy focuses have resulted in varied industrial landscapes and growth patterns in the two regions.
For instance, in the East Zone, Bihar significantly improved its industrial infrastructure by establishing new manufacturing units and upgrading existing facilities under the Bihar Industrial Policy 2023. This policy aimed to enhance the state’s industrial landscape through strategic initiatives and incentives. Meanwhile, West Bengal advanced its warehousing sector by implementing smart warehousing technologies and automation systems, positioning itself as a leader in modern warehousing solutions within the East region.
Similarly, in the West Zone, Maharashtra and Gujarat led the way in advanced manufacturing during FY 2023-24. Key sectors such as automotive, electronics, and pharmaceuticals expanded significantly. New manufacturing units and technology upgrades contributed to increased production capabilities and global competitiveness. Cities such as Pune and Ahmedabad emerged as prominent industrial hubs, drawing substantial domestic and foreign investments. Specialized industrial parks further fueled this growth.
The West Zone also attracted considerable FDI, driven by favorable policies, infrastructure advancements, and a robust business environment. State governments introduced various initiatives, including tax incentives, subsidies, and infrastructure support, with programs like Gujarat’s Industrial Policy and Maharashtra’s Industrial Development Scheme playing crucial roles. Additionally, industries in the West Zone increasingly adopted advanced technologies, including Industry 4.0 solutions, AI, and IoT. This shift drove innovation and improved operational efficiency across sectors.
Also Read: India’s Construction Industry in FY 2023-24: A Zone-Wise Analysis
Part A: East Zone
Construction Projects in the East Zone
In the last financial year, Biltrax Construction Data tracked nearly 644 industrial projects in the East Zone through its BX-2 platform. These projects cover more than 275.19 Million-SqFt, with an estimated investment cost of INR 3,46,813 Crore.
State-wise Construction Overview of the East Zone (Based on Project Value)
Of the total projects tracked on BX-2 in the East region during FY 2023-24, Odisha leads in total project value. The state implemented 200 projects, spanning a total construction area of 173.06 Million-SqFt, valued at INR 2,48,421 Crore. This represents 71.63% of the total project value in the East Zone. This significant boost in Odisha’s investment value is due to the government schemes to boost logistics and industrial infrastructure. Odisha inaugurated several greenfield industrial parks focused on sustainable manufacturing practices. These parks are equipped with state-of-the-art facilities and have attracted major domestic and international companies.
| Sr. No. | State | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Project Value |
| 1 | Odisha | 200 | 173.06 | 2,48,421 | 71.63% |
| 2 | West Bengal | 171 | 66.49 | 63,467 | 18.30% |
| 3 | Jharkhand | 94 | 24.33 | 29,421 | 8.48% |
| 4 | Bihar | 179 | 11.31 | 5,504 | 1.59% |
| TOTAL | 644 | 275.19 | 346,813 |
Major Sub-segments
In FY 2023-24, the East region experienced significant developments across various industrial sub-segments, reflecting a diverse and robust growth in the construction sector. BX-2 recorded 618 projects across major sub-segments of the manufacturing sector in this zone. These projects encompass a total area of 268.69 Million-SqFt with a total project value of INR 343,800 Crore. The steel sector led the region in terms of project value, accumulating nearly 62.86% of the total. Odisha, in particular, stood out with 30 steel projects valued at INR 1,51,431 Crore. Notably, Odisha accounts for about half of the country’s iron ore production, making it an ideal location for setting up steel industries. The state’s abundant mineral resources provide a competitive edge, enabling local steel manufacturers to reduce costs and enhance production efficiency.
| Sr. No. | Sub-Segments | Project Nos. | Project Value(in INR-Cr) | % by Project Value |
| 1 | Steel | 69 | 2,16,122 | 62.86% |
| 2 | Metal | 131 | 64,974 | 18.90% |
| 3 | Chemicals | 40 | 51,695 | 15.04% |
| 4 | Cement | 18 | 9,039 | 2.63% |
Key Stakeholders in the East Zone (Based on Project Value)
This section highlights the key stakeholders driving industrial construction activities in the East Zone during FY 2023-24. It focuses on major project owners, top contractors, and design engineering consultants leading significant developments across various sectors.
Major Project Owners
As of FY 2023-24, BX-2 monitored over 589 project owners in the East Zone. These are actively delivering more than 643 industrial projects accounting for nearly INR 3,46,533 Crore. The top 10 project owners alone account for over 69% of the total project value. Key players include:
| Sr No. | Company Name | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Project Value |
| 1 | Neelachal Ispat Nigam Limited | 1 | 47.72 | 61,769 | 17.82% |
| 2 | Steel Authority of India Limited (SAIL) | 4 | 10.63 | 50,776 | 14.65% |
| 3 | ArcelorMittal Nippon Steel India Limited | 1 | 41.19 | 38,000 | 10.97% |
| 4 | Kalyani Steels Limited | 1 | 1.2 | 20,800 | 6.00% |
| 5 | ACME Cleantech Solutions Private Limited | 1 | 1.8 | 20,000 | 5.77% |
| 6 | Sompuri Infrastructures Private Limited | 2 | 9.15 | 11,500 | 3.32% |
| 7 | Welspun Energy Private Limited | 1 | 1.5 | 11,100 | 3.20% |
| 8 | Sembcorp Industries Limited | 1 | 2 | 10,400 | 3.00% |
| 9 | Tata Steel | 2 | 2.18 | 8,367 | 2.41% |
| 10 | Orissa Metaliks Private Limited | 4 | 16.94 | 8,240 | 2.38% |
Top 5 General Turnkey/Civil Works Contractors
Among the 13 General turnkey/civil works companies monitored by BX-2 in the East zone, Senco India Projects Pvt Ltd leads, with projects worth INR 4,077 Crore. This represents nearly 54.41% of the total project value. The firm is actively developing a total of 2 Million-SqFt of the construction area. ACME Cleantech Solutions Pvt Ltd and EXCEL Engineers & Consultants (Regreen Excel) follow in the second and third ranks, respectively. These firms are delivering projects worth INR 1,736 Crore and INR 455 Crore, respectively.
| Sr. No. | Company Name | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Project Value |
| 1 | Senco India Projects Private Limited | 1 | 2 | 4,077 | 54.41% |
| 2 | ACME Cleantech Solutions Private Limited | 1 | 2.03 | 1,736 | 23.17% |
| 3 | EXCEL Engineers & Consultants (Regreen Excel) | 3 | 1.74 | 455 | 6.07% |
| 4 | Bajaj Engineers Private Limited | 1 | 0.35 | 400 | 5.34% |
| 5 | Tata Projects Limited | 1 | 0.25 | 300 | 4.00% |
Top 5 Design Engineering Consultants
Among 32 Design Engineering consultancy firms monitored by BX-2, Mecon Ltd stands out with projects worth INR 38,000 Crore. They are delivering projects covering 41.19 Million-SqFt, representing 47.99% of the total industrial projects in the East zone. Meanwhile, MN Dastur & Company Pvt Ltd follow second in line. They manage projects covering 10.58 Million-SqFt with a total project cost of INR 20,340 Crore, representing 25.69% of the overall project value.
| Sr. No. | Company Name | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Project Value |
| 1 | Mecon Limited | 1 | 41.19 | 38,000 | 47.99% |
| 2 | MN Dastur & Company Private Limited | 3 | 10.58 | 20,340 | 25.69% |
| 3 | Industrial Technical Consultant (ITC) Raipur | 2 | 4.5 | 5,673 | 7.16% |
| 4 | R Singh & Associates Private Limited (RSA) | 1 | 2 | 4,077 | 5.15% |
| 5 | Predominant Engineers & Contractors Private Limited | 1 | 2 | 4,077 | 5.15% |
Part B: West Zone
Construction Projects in the West Zone
In the last financial year, Biltrax Construction Data tracked 999 industrial projects in the West Zone through its BX-2 platform. These projects cover nearly 381 Million-SqFt, with an estimated investment cost of INR 3,43,953 Crore.
State-wise Construction Overview of the West Zone (Based on Project Value)
Of the total projects tracked on BX-2 in the West region during FY 2023-24, Gujarat leads in terms of total project value. The state implemented 419 projects, spanning a total construction area of 110 Million-SqFt, valued at INR 224,111 Crore. This represents almost 65.16% of the total project value in the West Zone. The Vibrant Gujarat Global Summit 2023, held from January 10-12, 2023, in Gandhinagar, Gujarat, was a major event aimed at showcasing the state’s investment potential and fostering economic growth. During the event, the Gujarat government announced that it had secured investment commitments worth approximately INR 19.60 Lakh-Crore (around USD 240 billion). These commitments spanned various sectors, including manufacturing, infrastructure, renewable energy, and technology, reflecting strong interest from both domestic and international investors.
| Sr. No. | State | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Construction Value |
| 1 | Gujarat | 419 | 110.02 | 2,24,111 | 65.16% |
| 2 | Maharashtra | 531 | 264.77 | 1,15,493 | 33.58% |
| 3 | Goa | 44 | 4.41 | 3,650 | 1.06% |
| 4 | Dadra & Nagar Haveli | 3 | 1.72 | 376 | 0.11% |
| 5 | Daman | 2 | 0.21 | 323 | 0.09% |
| TOTAL | 999 | 381 | 3,43,953 |
Also Read: Navigating Building Construction Trends in India’s East Zone: FY 2023-24
Meanwhile, Maharashtra implemented the highest number of projects, totaling 531. The state increasingly adopted advanced technologies, driving innovation and also attracted the highest FDI. The Davos Summit 2024, held in Switzerland, was a significant global forum where Maharashtra showcased its economic potential and attracted international attention for investment opportunities. The state made substantial investment announcements, focusing on infrastructure development, advanced manufacturing, and technology. It also committed to major projects, including establishing new industrial parks and expanding existing facilities.
Major Sub-segments
In FY 2023-24, the West region experienced significant developments across various industrial sub-segments, reflecting a diverse and robust growth in the construction sector. BX-2 recorded 927 projects across major sub-segments of the manufacturing sector in this zone. These projects encompass a total area of 252.89 Million-SqFt with a total project value of INR 333,442 Crore. The electronics sector led the region in terms of project value, accumulating nearly 29.84% of the total.
Maharashtra emerged as the frontrunner in this sub-segment, boasting 9 projects valued at INR 1,059 Crore. The Maharashtra government has introduced several initiatives to boost the electronics sector. This includes the implementation of the Maharashtra Electronics Policy, aimed at fostering a conducive environment for electronics companies, encouraging both domestic and foreign investments. The state has made significant advancements in developing technology parks and upgrading its industrial infrastructure to support high-tech industries, including electronics.
| Sr. No. | Sub-Segments | Project Nos. | Project Value(in INR-Cr) | % by Project Value |
| 1 | Electronics | 25 | 99,490 | 29.84% |
| 2 | Chemicals | 271 | 66,512 | 19.95% |
| 3 | Steel | 37 | 32,797 | 9.84% |
| 4 | Metal | 78 | 28,068 | 8.42% |
| 5 | Automobiles | 9 | 26,534 | 7.96% |
| 6 | Food Processing | 148 | 25,960 | 7.79% |
Key Stakeholders in the West Zone (Based on Project Value)
Major Project Owners
As of FY 2023-24, BX-2 monitored over 919 project owners in the West Zone. They are actively delivering more than 998 industrial projects accounting for an estimated INR 3,43,942 Crore. The top 10 project owners alone account for nearly 59.51% of the total project value. Key players include:
| Sr. No. | Company Name | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Project Value |
| 1 | Tata Electronics Private Limited | 1 | 2 | 90,000 | 26.17% |
| 2 | Maruti Suzuki India Limited | 2 | 2.52 | 25,060 | 7.29% |
| 3 | JSW Steel Limited | 3 | 16.06 | 25,057 | 7.29% |
| 4 | Inox Air Products Private Limited | 1 | 2 | 20,000 | 5.81% |
| 5 | DCM Shriram Limited | 2 | 2.12 | 10,390 | 3.02% |
| 6 | Agratas Energy Solutions Limited (TATA Sons’ subsidiary) | 1 | 2 | 10,000 | 2.91% |
| 7 | Indo Asia Copper Limited | 1 | 9.68 | 8,269 | 2.40% |
| 8 | Hindalco Industries Private Limited | 1 | 1.82 | 7,000 | 2.04% |
| 9 | Micron Technology India | 1 | 2.18 | 5,000 | 1.45% |
| 10 | Grace Industries Limited | 1 | 3.02 | 3,931 | 1.14% |
Top 3 General Turnkey/Civil Works Contractors
Among the 87 General turnkey/civil works companies monitored by BX-2 in the West zone, Tata Projects Ltd leads with projects worth INR 15,000 Crore. This represents nearly 30.40% of the total project value. The firm is actively developing a total of 4.18 Million-SqFt of the construction area. Toyo Engineering India Ltd and Adroit Structural Engineers Pvt Ltd follow in the second and third ranks, respectively. These firms are delivering projects worth INR 4,005 Crore and INR 3,500 Crore, respectively.
| Sr. No. | Company Name | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Project Value |
| 1 | Tata Projects Limited | 2 | 4.18 | 15,000 | 30.40% |
| 2 | Toyo Engineering India Limited | 2 | 2.6 | 4,005 | 8.12% |
| 3 | Adroit Structural Engineers Private Limited | 1 | 0.6 | 3,500 | 7.09% |
| 4 | Scon Projects Private Limited | 9 | 5.54 | 2,470 | 5.01% |
| 5 | Larsen and Toubro Limited | 1 | 0.28 | 1,680 | 3.40% |
Top 5 Design Engineering Consultants
Among 129 Design Engineering consultancy firms monitored by BX-2, Mecon Ltd stands out with projects worth INR 8,269 Crore. They are delivering projects covering 9.68 Million-SqFt, representing 14.65% of the total industrial projects in the West zone. Meanwhile, Meinhardt Group follows second in line. They manage a significant project covering 2.18 Million-SqFt. The total investment of this project is INR 5,000 Crore, representing 8.86% of the overall project value.
| Sr. No. | Company Name | Project Nos. | Construction Area (Million-SqFt) | Project Value (INR-Crore) | % by Project Value |
| 1 | Mecon Limited | 1 | 9.68 | 8,269 | 14.65% |
| 2 | Meinhardt Group | 1 | 2.18 | 5,000 | 8.86% |
| 3 | Mott MacDonald | 4 | 1.02 | 3,434 | 6.09% |
| 4 | Shroff & Associates | 4 | 3.19 | 2,247 | 3.98% |
| 5 | Designers Combine | 1 | 4.99 | 1,909 | 3.38% |
Also Read: Building Construction Trends in India’s West Zone: FY 2023-24
In summary, zonal analytics play a pivotal role in deciphering these regional dynamics. Consequently, it offers insights that are essential for stakeholders to navigate the complex construction landscape. By leveraging data from Biltrax Construction Data, industry players gain access to detailed, real-time information on construction projects across India. Moreover, with Biltrax’s robust analytics and detailed reporting, stakeholders can effectively plan and execute their projects, ensuring they are aligned with regional demands and opportunities. This approach not only enhances efficiency but also drives sustainable growth in India’s dynamic construction sector.
Stay tuned for our next article in the ‘Zonal Analytics’ series. In this final article, we will explore the South and Central Zones – another critical segment of India’s construction industry.
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