Concrete

UBM announces launch of Concrete Show India 2012

Published

13 years ago

December 31, 2011

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A unique platform for bringing buyers and sellers within the concrete industry on a single stageUBM is delighted to announce the launch of the Concrete Show India 2012 taking place from 23-25 February 2012 at the Bandra Kurla Complex in Mumbai, India. The three day event will bring together the buyers and sellers within the concrete industry to experience and interact with the full range of concrete products and services, develop business relationships, and participate in thought provoking seminar programmes. Since concrete plays a vital role in each construction project a dedicated event for this region is long overdue hence why Concrete Show India will be the only unique platform serving the needs of the entire concrete industry. During the show attendees will have the chance to find out more about the current state of the Indian construction sector and the opportunities available for the industry through the launch of Building Magazine’s White Paper.The launch of Concrete Show India is based on the success of Concrete Show South America, the leading exhibition for the concrete and civil construction industry in Latin America with over 500 exhibitors and over 25,000 visitors. Now in its 6th year, over $400 million dollars of business was generated in new business by the exhibition at its 5th edition. Concrete Show India will expand on this success and continue to provide a dedicated platform for concrete professionals around the globe. Several leading names have confirmed participation including Sany, Lafarge, Hess Group Adeka India and Atlas Copco India.Today India is the second fastest growing economy in the world with investment in construction accounting for nearly 11 percent of India’s Gross Domestic Product. High economic growth, a shortage of residential and office space, a thriving retail sector and strong industrial output have all played a vital role in this booming sector. The launch of Concrete Show India comes at a time when the building industry gathers momentum. Sanjeev Khaira, Managing Director of Concrete Show India, said that there was no better time to invest in India than at present. "India is emerging as one of the most attractive business destinations globally and is an opportunity not to be missed. Concrete Show India will ensure that suppliers, buyers, contractors, developers and other key players connect over the three days in a dynamic business environment. With Construction being the biggest beneficiary of the surge in infrastructure investment over the next five years the market is clearly surging forward and becoming increasingly competitive. Concrete Show India will allow companies to set themselves apart from competitors as well as reach out to potential clients."

Concrete

Construction Costs Rise 11% in 2024, Driven by Labour Expenses

Cement Prices Decline 15%, But Labour Costs Surge by 25%

Published

2 days ago

November 19, 2024

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The cost of construction in India increased by 11% over the past year, primarily driven by a 25% rise in labour expenses, according to Colliers India. While prices of key materials like cement dropped by 15% and steel saw a marginal 1% decrease, the surge in labour costs stretched construction budgets across sectors.

“Labour, which constitutes over a quarter of construction costs, has seen significant inflation due to the demand for skilled workers and associated training and compliance costs,” said Badal Yagnik, CEO of Colliers India.

The residential segment experienced the sharpest cost escalation due to a growing focus on quality construction and demand for gated communities. Meanwhile, commercial and industrial real estate remained resilient, with 37 million square feet of office space and 22 million square feet of warehousing space completed in the first nine months of 2024.

“Despite rising costs, investments in automation and training are helping developers address manpower challenges and streamline project timelines,” said Vimal Nadar, senior director at Colliers India.

With labour costs continuing to influence overall construction expenses, developers are exploring strategies to optimize operations and mitigate rising costs.

Concrete

Swiss Steel to Cut 800 Jobs

Job cuts due to weak demand

Published

3 days ago

November 18, 2024

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Swiss Steel has announced plans to cut 800 jobs as part of a restructuring effort, triggered by weak demand in the global steel market. The company, a major player in the European steel industry, cited an ongoing slowdown in demand as the primary reason behind the workforce reduction. These job cuts are expected to impact various departments across its operations, including production and administrative functions.

The steel industry has been facing significant challenges due to reduced demand from key sectors such as construction and automotive manufacturing. Additionally, the broader economic slowdown in Europe, coupled with rising energy costs, has further strained the profitability of steel producers like Swiss Steel. In response to these conditions, the company has decided to streamline its operations to ensure long-term sustainability.

Swiss Steel’s decision to cut jobs is part of a broader trend in the steel industry, where companies are adjusting to volatile market conditions. The move is aimed at reducing operational costs and improving efficiency, but it highlights the continuing pressures faced by the manufacturing sector amid uncertain global economic conditions.

The layoffs are expected to occur across Swiss Steel’s production facilities and corporate offices, as the company focuses on consolidating its workforce. Despite these cuts, Swiss Steel plans to continue its efforts to innovate and adapt to market demands, with an emphasis on high-value, specialty steel products.

Concrete

UltraTech Cement to raise Rs 3,000 crore via NCDs to boost financial flexibility

UltraTech reported a 36% year-on-year (YoY) decline in net profit, dropping to Rs 825 crore

Published

3 days ago

November 18, 2024

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UltraTech Cement, the Aditya Birla Group’s flagship company, has announced plans to raise up to Rs 3,000 crore through the private placement of non-convertible debentures (NCDs) in one or more tranches. The move aims to strengthen the company’s financial position amid increasing competition in the cement sector.

UltraTech’s finance committee has approved the issuance of rupee-denominated, unsecured, redeemable, and listed NCDs. The company has experienced strong stock performance, with its share price rising 22% over the past year, boosting its market capitalization to approximately Rs 3.1 lakh crore.

For Q2 FY2025, UltraTech reported a 36% year-on-year (YoY) decline in net profit, dropping to Rs 825 crore, below analyst expectations. Revenue for the quarter also fell 2% YoY to Rs 15,635 crore, and EBITDA margins contracted by 300 basis points. Despite this, the company saw a 3% increase in domestic sales volume, supported by lower energy costs.

In a strategic move, UltraTech invested Rs 3,954 crore for a 32.7% equity stake in India Cements, further solidifying its position in South India. UltraTech holds an 11% market share in the region, while competitor Adani holds 6%. UltraTech also secured $500 million through a sustainability-linked loan, underscoring its focus on sustainable growth driven by infrastructure and housing demand.