“We are also looking to establish our presence in other countries”
CEO and Managing Director,
L&T Power and Wholetime Director,
Shailendra Roy, CEO and Managing Director, L&T Power and Wholetime Director, L&T, talks about the company’s growth in the power business besides sharing a few insights with CT.
Please brief us on L&T Power’s business growth for the past two years.
Shailendra: The sector pertaining to coal-fired power projects is experiencing stiff challenges in terms of low ordering vis-à-vis installed domestic manufacturing capacity. Around 6.2 GW projects were ordered in FY17 against approximately 24 GW domestic manufacturing capacity. L&T Power is looking to mitigate the risk of low domestic demand by focussing on international market and diversification. We are present in Bangladesh since 2014 and have successfully commissioned two gas-based combined cycle power projects so far – two more projects are under execution. We are also looking to establish our presence in other countries.
We have also diversified into environmental solutions, having a technical licence agreement withChiyoda Corporation, Japan, for offering Flue Gas Desulphurisation (FGD) system for SOx control solutions. L&T-MHPS Boilers Pvt Ltd (our JV company) has tied up with Mitsubishi Hitachi Power Systems, Japan, for offering Selective Catalytic Reduction (SCR) for NOx control. We expect this enviro solutions business to support L&T Power’s growth in the coming years because of government’s aggressive implementation plan for compliance of emission norms by existing thermal plants. Major orders received in the past two years include 3×660 MW Neyveli Uttar Pradesh Power Limited (NUPPL) Steam Generator; 400 MW BPDB Bibiyana South CCPP (Bangladesh) and around Rs 1,200-croreexport orders for boiler and turbine components for our JV companies.
Which products/technology is a major contributor towards this growth?
Shailendra: L&T Power provides complete EPC solutions for thermal power projects. For coal-based power projects, we offer supercritical and ultra-supercritical boilers, turbine and generators through our two JVs, L&T-MHPS Boilers Pvt Ltd and L&T-MHPS Turbine Generators Pvt Ltd, having state-of-the-art manufacturing facilities with best-in-class systems, processes, technology and capabilities at our Hazira manufacturing complex.
We have in-house capability for detail engineering and integration through our JV firm, L&T-Sargent & Lundy. In addition, L&T Power has design and manufacturing facilities for critical equipment like ESP, FGD, SCR, Fans & RAPH.
How does technology ensure that the plant remains compact and easy to maintain?
Shailendra: Our product technology as well as detail engineering and interfacing capability enables us to design compact and easy to maintain plants. Our boiler and turbine design is based on supercritical and ultra-supercritical technology which hassome key advantages over sub-critical technology such as:
• Less coal consumption per MW, leading to reduction in coal storage area and coal handling plant capacity
• Our supercritical boiler has twin fire vortex and can operate at very low access air which improves boiler
• Compact layout due to front mill arrangement
• We have consistently bettered heat rate through improved turbine blade design, metallurgical advances with
support from JV partner (MHPS) with every project, ensuring lower emissions and resource consumption.
• Our steam generator is designed for variable and sliding pressure operation which helps in complying to
cyclic load variation and faster ramp up rate
How many power projects have been executed by L&T on EPC basis for govt. utilities and independent power producers in India and abroad?
Shailendra: So far, L&T Power has completed two coal-fired supercritical projects for government utilities on EPC basis: MAHAGENCO (3×660 MW) – Boiler and Turbine Generator Package and Andhra Pradesh Power Development CoLtd (2×800 MW) – Steam Turbine Generator Island package, two supercritical projects for independent power producers: Nabha Power Ltd (2×700 MW) – complete EPC and Jaiprakash Power Ventures Ltd (2×660 MW) – Boiler and Turbine Generator package. In the Balance of Plant space, we have executed two projects – one for govt utility Madhya Pradesh Power Generating Co Ltd (2×600 MW) and the other for independent power producer DB Power (2×600 MW).
L&T Power has executed severalgas-based power projects totaling around 2,700 MW in India on EPC basis, the latest being Gujarat State Electricity Corporation Ltd’s 375 MW. In the international market, we have executed gas-based power projects totaling around 1,000 MW in Bangladesh, Oman and Sri Lanka.
Currently, how many power projects are under execution?
Shailendra: We are currently executing several coal-fired power projects totalling 7,260 MW in the country. Three of the five projects are being executed on EPC basis: Khargone (2 x 660 MW) for NTPC, Shree Singaji Thermal Power Plant (2 x 660 MW)at Malwa for Madhya Pradesh Power Generating Co. Ltd. and Chhabra (2 x 660 MW) for Rajasthan Rajya Vidyut Utpadan Nigam Ltd. Besides, we are also executing two orders for Steam Generators on EPC basis for NTPC at Tanda (2 x 660 MW) and Ghatampur (3x 660 MW). In Bangladesh, we are presently executing two gas-based projects totalling 800 MW – for Bangladeshgovernment utility. Besides, we are also executing one Balance of Turbine Island package for a nuclear plant (2×700 MW)
What was L&T’s scope of work for combined cycle power plants in Bangladesh?
Shailendra: L&T’s scope for combined cycle power plants in Bangladesh included design, detail engineering, supply, installation and commissioning of the complete power plant on a turnkey basis. Gas turbine, steam turbine and generator were procured by L&T. L&T-Sargent & Lundy, a joint venture company of L&T and Sargent & Lundy LLC, USA, carried out the plant integration and detail engineering.
Share with us about L&T’s strength in terms of safety standards, and quality of the product.
Shailendra: At L&T Power, safety and quality management systems have been developed and implemented which is accredited to the International Standards of ISO 14001 -2015, OHSAS 18001-2007 and ISO
Contractors working on our projects are continuously monitored &are trained to comply fully regulatory and our EHS requirements. Safety management systems and processes are continuously reviewed. Best practices from across all L&T Units are adapted to upgrade these systems.
In our pursuit of safety culture improvement, we have won various national and international safety awards from Ministry of Labor and Employment, National Safety Council & British Safety Council.
5S, Quality Circles, Cost of Quality, Kaizens, etc, are few of the employee-inclusive tools deployed to achieve the vision of ‘Doing right the first time’. Business Excellence drives are initiated across breadth and depth of the value chain to be a ‘Total Quality Organization’.
Where do you envision your company in the next two years?
Shailendra: Domestic coal and gas EPC business scenario will continue to remain challenging.Immediate respite is not visible due to government’s focus on renewable energy, low electricity demand growth and unavailability of domestic gas.
However, we expect de-commissioning of old plants and replacing those by latest supercritical or ultra-supercritical units to gather momentum due to government’s commitment to reduce emissions from thermal power plants. There has been an increasing trend in terms of de-commissioning of old and inefficient thermal power plants (around 4.5 GW decommissioned in FY17 andaround 3.5 GW in 9M FY18 from approximately 2 GW in earlier years).
L&T Power is continuously adapting itself to the aggressive competition due to low capacity utilizationthrough various operational initiatives. We are focusing on increasing international footprintsin both coal and gas project segment to offset reduced demand in the domestic market. We are also looking for enhanced cooperation with JV partners for increased export orders to improve our manufacturing capacity utilisation. We have also diversified into emission control business. We are targeting market opportunity of around 146 GW of FGD implementation in existing plants, which has emerged because of new environmental norms.
“Outlook for infrastructure investment looks buoyant”
Chief Operating Officer,
State Bank of India.
Kumar Deb, Chief Operating Officer, State Bank of India talks about SBI’s initiatives in lending to real estate and his keen interest in various infrastructure segment.
The government was planning a credit enhancement product for infra companies so they are able to access the debt market. I believe SBI was also part of the team working with the government for this. Any developments on this front?
Kumar Deb: Government announced Rs 2.1 lakh crore capital infusion plan for state owned banks and an ambitious road development programme to boost the economy. SBI has been crucial in rendering necessary progress to the plan. Different stakeholders are in process of evaluating final numbers.
There were policy framework for financing instruments like Infrastructure Investment Trusts (InvITs) and Infrastructure Debt Fund (IDF) have also been implemented in recent past but due to equity investor’s risk averseness and quasi-equity nature of instruments, InvITs and IDFs have found limited takers. Though securitisation of infrastructure assets have gained reasonable acceptance, so now banks to participate in more transactions. In the budget speech, the finance minister mentioned that government would be initiating monetising of select CPSE assets using InvITs.This will give InvITs more liquidity and wider acceptance in the market.
With country reaping benefits of latent demand from demographic potential, conducive business environment and government’s initiatives to facilitate investment. Outlook for infrastructure investment looks buoyant. But to facilitate such an investment necessary fuel in form of infrastructure financing to be provided by banks. Considering current limitation of banking credit,focus on developing alternative sources of infrastructure financing now needs specific attention.
How does one improve the funding mechanism and sources for greenfield infrastructure projects. Surely, infrastructure creation cannot happen only with government funding and with multilateral funding?
Kumar Deb: Considering limitations in greenfield infra projects in some cases, new avenues must be explored. Export credit agencies (ECAs) have globally played a significant role in promoting trade,investments by providing insurance and funding. It is important for global infrastructure investors and government to look at ECAs as a significant enabler of infrastructure investments in India. Role of ECAs needs to encompass that of an insurance provider, an investor and a liquidity provider in foreign exchange.
There are few fundamental advantages firstly, foreign commercial lenders will have limited access Indian investments, especially greenfield, due to the perceived high credit-risk involved. But ECA can provide insurance to make infrastructure assets in India more attractive. Furthermore GDP growth can be used as leverage to attract more investors.This will reduce burden on Indian banking system and subsequently central bank may reduce interest rates.
Secondly, ECAs, with credit insurance and political risk insurance, make debt investments more attractive for foreign investors. Debt will be the primary source of funding. ECAs, through their credit-risk mitigating mechanism, greatly assist in boosting debt investments.
Thirdly, ECAs need to work with private investors to look at products that help extend the maturity of the payment stream due from project or borrower. This will help foreign commercial banks with capital to deploy in longer-dated infrastructure projects.
Fourthly, ECAs can also assist in boosting infrastructure by creating mechanisms that allow foreign lenders to lend in their home currency. One of the biggest risks foreign lenders in India face is the foreign exchange risk. ECAs can create pools of liquidity that allow lenders to hedge the local currency risk from India.
The ability of the ECA to do additional analysis and provide the requisite funding mechanism will also encourage more green field risk-taking. A well-structured regulatory mechanism in partnerships with multiple ECAs has the potential to provide the required boost to green eld projects.
The Credit Enhancement Fund announced in Budget can also get a boost by collaborating with ECAs from different countries. The Fund is a great start, but if policymakers can create an environment to encourage ECAs, it will lead to more efficient capital flow within ecosystem. The aim of the Fund is to provide a boost to infrastructure investments by providing insurance to infrastructure projects. Allowing ECAs from other countries to operate within India will allow even more infrastructure investments to be created.
Furthermore, government had set up National Investment and Infrastructure Fund (NIIF) in as a PPP with commercial investors from India and abroad. Many pension and sovereign wealth funds have shown interest in participating in the fund. New Development Bank and the Asian Infrastructure Investment Bank have extended credit to various infrastructure projects.This will channel, inflow of funds from abroad and mitigate credit risks in Indian Banking system.
In latest budget, the finance minister also laid emphasis on India Infrastructure Finance Corporation Ltd and ways of expanding its role in infra financing. Regulators can expand scope and overall capital base of NBFCs, infrastructure finance companies (IFC) etc to address Infra fundings.
What are some of SBI’s initiatives in lending to real estate, in general?
Kumar Deb: SBI and realtors’ body CREDAI have signed an agreement to provide loans at a concessional rate to builders as well as customers for affordable housing projects.(In general Real estate Projects). This doesn’t end here, the collaboration work towards green housing projects as well..
Bank will be providing an interest concession for construction of green projects and also a processing fee waiver for home loans under SBI Green Home Loans. Home loan buyers will have access to approx 3 lakh units to choose from PAN India.
Bank has launched ‘SBI Realty’ a one stop integrated website for home buyers.This will be amazing platform for home buyers to choose their dream homes.
For Real estate builders, SBI has developed project finance strategic business units. This is one-stop-shop of financial services for new projects as well as expansion, diversification and modernisation of existing projects in infrastructure and non -infrastructure sectors.
What are some initiatives, if any, in SBI, with respect to lending to developers who are keen to build affordable housing, specifically with respect to homes in the Rs 15-30 lakh bracket?
Kumar Deb: Initiatives for lending to real estate developers are huge . The significant ones are exclusive relationship manager for each affordable housing projects being launched. Preferential treatment for processing of proposals in respect of affordable housing projects being launched.
Specialised/dedicated team for construction/builder finance interest concessions of upto 35 bps for builder /construction finance for all the affordable housing projects launched concession in processing fee will be explored to extent possible for affordable housing projects being launched on the occasion, on case to case basis opportunity to market SBI Hamara Ghar, an exclusive affordable housing scheme
Is lending to the sub 10 crore segment generally riskier? How do you achieve your PSL targets?
Kumar Deb: Answer to this question is related to fundamentals of banking ” 5C”. Character – The borrower’s history of how they pay their bills; Capacity – The quantitative measure of whether the Borrower has sufficient income to pay its debts; Capital – Also known as equity. Generally, the higher the equity contribution, the lower the risk to the Bank; Collateral – An alternative source of repayment if cash flow cannot be relied upon to pay the debt; and Conditions – Also known as loan structure. Loan structural tools used to reduce risk are LTV ratio, debt service coverage ratio, financial covenants, borrowing base, profiling, risk forecasting.
Removal of existing caps helped bank earn better returns and achieving PSL targets.Removal of existing loan limits of up to 5 crore to micro and small units and up to 10 crore to medium enterprises, helped bank make good the shortfall in MSME loans that qualify as priority sector lending.
Bank having any shortfall in lending to priority sector to contribute in Rural Infrastructure Development Fund (RIDF) established with Nabard and similar other funds.
Branch Wise specialised groups formed to undertook activities for credit augmentation without losing sight on quality. Moreover mitigating risk in sub 10 crore is objective. Targeting, profiling and segmentation intensively to comprehend risk appetite is necessary.The identified Medium Enterprises, Social Infrastructure and Renewable Energy in addition to the existing categories like agriculture, Micro, Small and Medium Enterprises, Education and Housing
Which are the segments within infrastructure you are still keen on, if any? Clearly, you have not taken a fancy to the recently introduced hybrid model in roads despite a lot of changes made by the Ministry to make lenders comfortable. Your comments.
Kumar Deb: Apart from affordable housing, bank is keen in other segments in infrastructure. Notably roads and highways, power, petroleum, port, railways, smart city etc. In infrastructure loans, the repayment period is usually long and the chances of the work getting stuck is high. So bank has decided against funding interest during construction. Performing companies in infrastructure industry will be welcomed with tailored products and services.Bank explores lending opportunities in more cautious manner and capability of promoters to bring their part of equity. Aim is to complete the project within deadlines at minimal risk.
As bank would not fund any road designed under the hybrid annuity model (HAM) since there is uncertainty about getting back returns. Under terms of agreement, if road project is terminated midway, lender will not be entitled to receive money it has lent. Apart from that, road project completion time is slow and often quality issues.
What is the outstanding loans with respect to housing, and how much of this is PSL?
Kumar Deb: As central bank raised housing loan limits for eligibility under PSL to Rs 35 lakh from Rs 28 lakh in metropolitan cities. And to Rs 25 lakh from Rs 20 lakh in other centres. Affordable housing got infrastructure status and there is a subsidy for loans taken for such homes under the Pradhan Mantri Awas Yojana. PSBs meet their priority-sector shortfall by contributing to the Rural Infrastructure Development fund, which yields less, compared to affordable housing loans. This Increase in limit by central bank make it easier for banks to meet PSL requirements.
As infrastructure status given to affordable housing, along with the Credit Linked Subsidy Scheme (CLSS) for households with an annual income of less than Rs 18 lakh. It has given a push to home loan disbursements. It’s observed that in the sub Rs 25-lakh loan category, the effective interest rate on the EMI is now in many areas lower than rental yield. Even as it eased the PSL requirements in the housing segment, there is stress emerging in the low-ticket buckets of the housing loan market.
In housing loans the level of NPAs for the ticket size of up to Rs 2 lakh has been high and is rising briskly. There is need to strengthen screening and follow up in respect of lending to this segment in particular. Industry might consider tightening of the loan-to-value (LTV) ratios or an increase in the risk weights in such categories. 40 per cent of the total net bank credit goes to PSL.
What is the challenge facing banks today, with respect to technological advancements, newer, younger and more nimble banks a part of the landscape now, as well as payments banks?
Kumar Deb: The market share of payment Banks is very minuscule as of today. Payment bank has it’s limits on deposits, nascent user base, trust factors and not uniform users across rural-urban areas.As these Banks have started new, so growth is hyped in market. Payment banks are not giving challenge to established commercial Banks- PSUs and private.Infact banking industry is adopting technology faster than before. Payment banks and new banks are faster to implement technologies because of smaller size and network. Established commercial Banks are using advanced technologies after it’s tried and tested by payment banks in market. This technology evolution render better banking experience to customers stage by stage. Moreover banks have started investing Fintech companies.
Digital platforms, payment banks do not have the scale and competitive edge to compete with major banks and financial institutions. So I think they aren’t challenge to commercial banks. But surely Fintech, Artificial Intelligence, Biometrics, Block chain etc., are the current trend setters in banking industry.
Bigger challenges in current scenario is ‘Customer expectations’. Fintech has raised the bar of customer expectations.challenge for traditional banks to adjust quickly to the changes.Not just in technology, but also in operations, culture and other facets of the industry. As Regulatory requirements continue to increase. So banks need to spend part of their discretionary budget on being compliant in systems and processes to keep up with requirements.
Banks are reinventing as more than a place to conduct financial transactions. Its good for banking Industry as bankers will be consulting to customers most of working hours in long run it will mitigate risks and further reduce NPAs. Some branches slowly act as ad hoc community centers or meeting spaces to foster a community.
How do you keep your infrastructure as lean as possible?
Kumar Deb: State Bank of India has incorporated a specialised firm – SBI Infra Management Solutions Pvt Ltd (SBIIMS). It manages SBI premises and real estate properties across country.
The objectives are to increase lifetime Value of physical assets, increase utility and decrease O&M cost.SBI is determined to provide SBI customers world class Infrastructure and experience Hi-Tech banking.Moreover crucial steps been taken to achieve mentioned goals.
“There is a scope for providing solution for diesel price and vehicular pollution”
Nagraju Yadav, Chairman, BMTC talks about how BMTC has taken stringent measure to improve fuel efficiency and plans to opt electric vehicles. He also highlights BMTC’ agenda for the year 2018-19
For several months rise in high speed diesel (HSD) is staggering losses for BMTC? How are you tackling this situation?
Nagraj Yadav: BMTC has adopted stringent measures in improvement of fuel efficiency and adoption of good maintenance practice, therby the staggering losses due to increase in HSD price may be minimised.
Highlight on the HSD prices BMTC paid for the past couple of months?
• 01.04.2018- 63.87 Rs per lt
• 16.04.2018- 66.28 Rs per lt
• 01.05.2018- 67.05 Rs per lt
• 14.05.2018- 67.27 Rs per lt
• 01.06.2018- 70.39 Rs per lt
Electric Vehicles (EV) are talk of the town. What plans BTMC has to opt EVs since the centre subsidy to EVs to roll out soon?
Nagraj Yadav: Tender finalised and letter hiring of intent for 60 AC and 20 Non-AC buses to M/s. Gold Stone Infra Tech Ltd.
Why has BMTC opted to lease the e buses rather than purchase it?
Nagraj Yadav: The estimated total cost of operation is likely to be more than the normal AC buses owing to initial high capital cost. It is proposed for the operation of Goss Cost Model.
Will EVs in near future to put an end to the high prices in diesel, reduce pollution, vehicular emissions, noise pollution? What is your take on this?
Nagraj Yadav: Electric mobility being an evolving technology in India, the indigenous production cost of EV’s in future may come down on par with diesel buses. Hence there is a scope for providing an alternate solution for diesel price noise and vehicular pollution.
How launch of metros in the city has affected your ridership/number of passengers?
Nagraj Yadav: BMTC had rescheduled the schedules to offset the low ridership and able to maintain the revenue in those schedules.
What steps have been taken to provide freeder services near Baiyappanahalli metro station? How are you planning to make it more effective?
Nagraj Yadav: Presently BMTC is operating 5 Routes with 36 Schedules and 272 trips from Baiyappanahalli to different parts of the city. Further, BMTC may increase the services from Baiyappanahalli as per the demand from commuters.
What steps have been taken by the government to promote Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme?
Nagraj Yadav: Government of Karnataka has announced the “Karnataka Electric and Energy storage policy- 2018” with the view to create a conducive atmosphere for transition to EV’s by utilising the FAME scheme. The state is the 1st to announce such policy in the country.
Highlight BMTC’ agenda for the year 2018-19?
Nagraj Yadav: BMTC has planned to procure 1625 new buses out of which 310 buses shall be operated in new routes and remaining 1299 buses will be replaced with the existing fleet. The proposal of retro-fitment of EV trains on diesel buses is on the anvil. The corporation board accorded approval for the proposal. Initially 80 EV’s shall be procured. Further, 500 EV’s hiring through Gross Cost model out of 1,500 buses proposed.
‘‘WE EXPECT ABOUT A MILLION NEW AFFORDABLE HOMES TO BE CREATED BY 2034”
In the biggest ever addition to Mumbai’s land bank, the Maharashtra government on April 25, said, it will unlock 3,685 hectares (ha) of public and private land that were tagged as no-development zones (NDZ). For perspective, consider that this land bank is equal to the size of about 10 Bandra-Kurla complexes! The land, the government said, will be used to create a million affordable housing units by 2034, besides social infrastructure.The other big focus is the emphasis on jobs creation. Construction Times caught up with Nitin Kareer, Principal Secretary, Urban Development, Maharashtra, for a short chat on the thoughts behind the new Development Plan (DP) 2034.
The new Development Plan (DP) will clearly be historic, if it is implemented. The last one wasn’t really implemented all that well, was it?
Nitin Kareer: The chief minister has approved the Development Plan 2034 of Mumbai city. This was approved in April, as you know, and we made an announcement subsequently towards the end of the month. The details have been shared with you. The notification has also been issued and this is in two parts, one of which is the sanctioned part of the plan and the development control regulation (DCR). This includes the changes which were done at the level of the government as well as some changes of the Planning Committee which have been accepted by the government. There are some changes, which, as you know, has been republished for seeking objections and suggestions from the people. The suggestions can be sent to the new Development Control and Promotional Regulations, 2034 (DCPR) till June 21. This is an opportunity for all to raise their concerns regarding the plan and the deputy director of town planning will hear all the objections and concerns that are submitted. With regard to the second part of your question, yes, the earlier DP was not implemented in totality. I would say only about 20 per cent of it was implemented!
Are there any new ideas in this DP?
Nitin Kareer: These are mostly not new ideas. The DCR of the earlier plan is still in place. There is a transition policy which is provided to move from the old DCR to the new so it will happen seamlessly.
What are the focus areas?
Nitin Kareer: The DP looks at three-four big things. The first is no open space reservations have been removed. All the open spaces reservations have been retained. In fact, some extra new open spaces have been created in this DP because the government feels that open spaces are an important parameter of the quality of life.Together, with the focus on quality of life, open spaces find a very important role in Mumbai city. I would like to emphasise that no open space deletion has been allowed and all open space deletions have not been accepted. In fact, we have created an additional 42 hectares (ha) of open spaces which was not there in the previous DCR. In this, hospitals have found a large space. The second part is that lands which were erstwhile in the no-development zone – whereverthe civic authority is in a position to provide infrastructure – havebeen taken up as they can be used to provide affordable housing as well as creating amenities and free housing in that area.
How much land is being freed up?
Nitin Kareer: Overall, NDZ is 16,700 ha of whicharound 12,900 ha are classified as Natural Area (NA), which includes parts of Sanjay Gandhi National Park, mangroves, salt pans and parts of Film City and Aarey milk colony, along with a few regions under CRZ.DP 2034 proposes to unlock 3,700 ha of public and private land currently tagged as NDZ. We are assuming about 2000 ha would come into housing as well as about 30 ha from salt pan lands.
We expect about a million new affordable homes to be created by 2034. This ties in with the focus area as I was explaining of which one of the areas is improving housing in the city and making affordable housing available. The third focus area is to provide an impetus to employment by providing a higher floor space index (FSI) for commercial development. You already have those details.
Last but not least, the government is committed to job creation. The status of Mumbai as the economic and commercial capital of the country should be maintained and rather, should be enhanced. We are looking at creating 8 million jobs in the city by 2034 and this is the other big issue that has been looked at carefully.
What about the social infrastructure which is also equally important for quality of life?
Nitin Kareer: Yes, the last issue we have looked at after the point on quality of life is certain sections of society for which special provisions have been made so that they move together in the pace of development with everybody else, especially women in the work force. We would like to increase the number of women in the work force in Mumbai. For the differently-abled, special provisions have been incorporated. With an aging population, old age homes will also be finding a special place in the DCR. For children, there are special areas that have been marked out. For art and culture – and this is another area that is picking up in the city.