Concrete

Kanodia Group Enters Real Estate Sector

Published

10 months ago

January 19, 2024

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Apart from cement, hygiene and building solutions, Kanodia Group is now geared up to impact the real estate industry in India. Vishal Kanodia, Managing Director, Kanodia Group, gives insights.

Kanodia Cement Limited, a pioneer in the Indian cement industry, has been in operation for the last 30 years. The Company has rich experience in this industry as a retailer, dealer, distributor, sole selling agent and now as a manufacturer for the last 15 years. Kanodia Cement has established five plants equipped with 100 per cent automatic grinding technique at Sikandarabad, Dist. Bulandshahar (UP) and Bhabua, Bihar. In July 2022, Kanodia Cement started production from the grinding unit in Amethi, Uttar Pradesh, with a 1.5mt capacity. After this expansion, the total capacity of the company is approximately 4 mtpa. The Kanodia Cement natural marketing zone is western Uttar Pradesh, Uttrakhand, Haryana, Bihar and Delhi NCR, with the production of the Amethi plant. The cement division serves the requirement of the growing demand of central and eastern Uttar Pradesh. Kanodia Cement is going to establish two cement grinding units with the capacity of approximately 4 mtpa in central and western Uttar Pradesh. Production in these units is expected to start by December 2025. With this additional capacity, Kanodia Cement’s total capacity will be approximately 10 mtpa.
With the additional capacity Kanodia Cement will be the second largest cement manufacturer of Uttar Pradesh after UltraTech.

EASY BUILD – Building Solution
Easy Build is a B2B2C marketplace for a complete end-to-end home building solution. Anything and everything that is needed to build your dream home is all available under the single Easy Build umbrella. Easy Build tries to bring the brands closer to the end customer by sustaining his existing trusted networks of retailers / resellers, architects / designers and applicators like masons, plumbers, painters, etc.
Easy Build is trying to organise this home building material space and derive efficiencies out of its existing value chain. In the process, we will bring the widest assortment of products spread across twelve different categories and share the benefits of efficiencies achieved with the entire value chain network.
Currently Easy Build has 12+ categories, 70+ brands and 15000+ SKUs.
Technology is the primary driver behind Easy Build, bringing forward the next generation customer experience, through metaverse, where the customer gets teleported into a virtual world and navigates within a pre-modelled individual house or apartment, mixing and matching materials like tiles, paints, laminates, sanitary ware, bath fittings and electrical accessories to build and visualise his home before progressing into the purchase journey.
For more details, visit www.easybuild.com.

Real Estate Sector
Looking at the exponential growth in urban housing and commercial sector, Kanodia Group is going to enter the Real Estate Sector – commercial as well residential. Initially they are going to start from NCR. India’s real estate sector is one of the most dynamic and fastest-growing sectors in the world, as it has witnessed rapid growth in recent years.

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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.