Ambuja Cements specified in a press release that growth is anticipated for the cement industry in the second half of FY 2025 due to the Centre's weight on infrastructure development and demands from the housing and commercial sectors.
Ambuja Cements announced in a press release, published together with their Q2FY25 earnings, "Strong infrastructure demand and ongoing needs from the housing and commercial sectors are anticipated to boost cement demand in H2 FY 2025."
The cement producer stated that the enactment of the Pradhan Mantri Awas Yojana (PMAY) Urban Housing 2.0, with a budget of 11 lakh crore rupees, is projected to also positively influence the business.
"Strategic investments in roads, railways along with urban and commercial amenities, is poised to drive robust growth," mentioned the Adani-owned enterprise.
In the second quarter ending September 2024, Ambuja Cements recorded a standalone net profit of 501 crore rupees, indicating a 22 percent cut from the 644 crore rupees earned in the corresponding quarter of the last year.
In September, Ambuja Cements publicized in its report that it had inked a binding contract with Orient Cements to acquire a 46.8 percent equity stake. Additionally, the company became the first cement business globally to join the Alliance for Industry Decarbonization (AFID).
After successfully concluding this contract, the company strategizes to accomplish a production capacity exceeding 100 million tonnes per year by the end of the financial year.
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