Economy & Market

Realty body’s NCR chapter to boycott Shree Cement due to price hikes

Published

9 years ago

July 31, 2016

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The NCR chapter of the Confede?ration of Real Estate Developers’ Associations of India has decided to boycott Shree Cement on complaints alleging arbitrary price increases and creating a shortage of the building material. The real estate industry body also plans to file a complaint with the Competition Commission of India.
"Shree Cement is arbitrarily increa?sing prices and stopping supply in between, demanding a price revision, despite taking an advance. This is unacceptable to us and we have asked our members to boycott the company," a CREDAI NCR spokesperson said. The builder body alleged that manufacturers are creating a false shortage. "Through excuses such as plant not functioning properly, issues with transportation, etc., these companies are not meeting the delivery deadlines, thereby affecting the builders’ constru?ction timelines," the spokesperson said.
CREDAI’s Western UP chapter has complained of cartelisation, with companies increasing prices from Rs 190 per bag to Rs 300 per bag in the past four months and delaying delivery.

Concrete

Shree Cement reports 2025 financial year results

Published

4 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

4 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

4 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/