+
UltraTech Cement starts new cement capacity at Gujarat's Magdalla plant
Cement

UltraTech Cement starts new cement capacity at Gujarat's Magdalla plant

UltraTech Cement, India's largest cement producer, that the commissioning of the 1.2 million tonne per annum (mtpa) brownfield cement capacity at Magdalla, Gujarat, had taken place.

It was stated that the new addition resulted in the unit's total capacity reaching 1.93 mtpa. Furthermore, UltraTech Cement informed the stock exchanges that its total grey cement manufacturing capacity in India had now reached 132.45 mtpa.

In the previous month, UltraTech Cement had reported robust growth in revenue and profit for the quarter ending in June 2023, surpassing analyst estimates.

The company had disclosed a net profit of Rs 16.90 billion for the quarter, which was 7% higher than the net profit of Rs 15.82 billion reported in the same quarter of the previous year.

Additionally, the revenue had surged by 17% in the quarter under review, amounting to Rs 177.37 billion compared to Rs 151.63 billion reported in Q1 FY23.

UltraTech Cement had mentioned that its domestic sales volume in the June quarter had increased by 20 percent year-on-year, with a capacity utilisation rate of 89%.

The company had also added that the demand for cement across all sectors continued to remain strong, which was highly favourable for its performance. Moreover, it was expected that higher infrastructure spending ahead of the general elections in 2024 would further boost cement demand during the current fiscal year.

Also read: 
BMC Awards NCC-J Kumar JV Contract for GMLR Twin Tunnels
NHIDCL collaborates with NIT Jamshedpur for Innovative Highway Solution


UltraTech Cement, India's largest cement producer, that the commissioning of the 1.2 million tonne per annum (mtpa) brownfield cement capacity at Magdalla, Gujarat, had taken place. It was stated that the new addition resulted in the unit's total capacity reaching 1.93 mtpa. Furthermore, UltraTech Cement informed the stock exchanges that its total grey cement manufacturing capacity in India had now reached 132.45 mtpa. In the previous month, UltraTech Cement had reported robust growth in revenue and profit for the quarter ending in June 2023, surpassing analyst estimates. The company had disclosed a net profit of Rs 16.90 billion for the quarter, which was 7% higher than the net profit of Rs 15.82 billion reported in the same quarter of the previous year. Additionally, the revenue had surged by 17% in the quarter under review, amounting to Rs 177.37 billion compared to Rs 151.63 billion reported in Q1 FY23. UltraTech Cement had mentioned that its domestic sales volume in the June quarter had increased by 20 percent year-on-year, with a capacity utilisation rate of 89%. The company had also added that the demand for cement across all sectors continued to remain strong, which was highly favourable for its performance. Moreover, it was expected that higher infrastructure spending ahead of the general elections in 2024 would further boost cement demand during the current fiscal year. Also read:  BMC Awards NCC-J Kumar JV Contract for GMLR Twin TunnelsNHIDCL collaborates with NIT Jamshedpur for Innovative Highway Solution

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?