According to Gautam Kanodia, the co-founder of the company, they aimed to allocate this substantial sum towards acquiring and developing residential and commercial projects. He mentioned that their initial focus would be on projects in the NCR region, with aspirations to extend their real estate presence to other areas.

The group, which has been active in the cement industry for more than three decades, currently oversees operations in three plants located in Sikandrabad, Bulandshahar, Amethi (Uttar Pradesh), and one in Bihar. These plants collectively boast a total capacity of 4.2 million tonnes per annum.

Kanodia Cement, a subsidiary of the group, disclosed plans to establish two cement grinding units in Uttar Pradesh with a combined capacity of five million tonnes per annum.