Economy & Market

Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd. on budget.

Published

4 years ago

July 1, 2021

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The Union Budget 2021 focuses on resetting the economy with a slew of measures to provide a leg up to the ailing real estate and construction industry. Infrastructure received a big boost with a proposed financial institution for financing big-ticket infrastructure projects. Coupled with an enhanced outlay of ??,18,10 lakh crore for the ministry of road transport and highways, the government is clearly banking on large-scale infrastructure projects to kickstart the stalled construction industry. Real estate was the other major beneficiary with continued tax relief for affordable housing. The move is expected to revive the industry, which was left reeling during the pandemic. In another major benefit for taxpayers, the government will continue the existing income tax slabs with no additional COVID cess. With its focus on increasing spending, the budget is a step in the right direction in invigorating the sector and rejuvenating the post-pandemic economy.

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/