While 2018 has seen the teething problems of RERA and GST fast settling, which has also resulted in to substantial growth in new launches; India's leading builders see a positive impact of the reforms with growth prospects across sectors.
Comparing regions, there is not much difference in perception in terms of what buyers want. Kolkata as a city is unique in its way. There are different perceptions about the market. While some look at it as a slow market, I personally see movement in the present day.
To restructure its India operations, Holcim is to merge its holding firm Holcim India with its unit Ambuja Cements. The Swiss building materials major on November 13 got the approval from Foreign Investment Promotion Board (FIPB) for the merger.
Despite moderate growth in cement dispatches and substantial savings on fuel costs, cement companies saw their profits sink in the July-September period due to a sharp drop in cement prices and higher freight expenses. ACC Ltd, Ambuja Cements and UltraTech Cement reported 45-50 per cent year-on-year declines in their net profits during the quarter.
Holcim, the Swiss cement giant, will create a new corporate structure to integrate key functions of Ambuja Cements and its subsidiary ACC close on the heels of restructuring the ownership composition of its two Indian arms. The new management panel, which will initially drive joint efforts to derive synergies in the areas of supply chain management and shared services such as HR and finance, will come into force from next month.
ACC and Ambuja Cement have received their investors’ nod for paying a 'technology and know-how' fee of one per cent of the net sales to Holcim Technology for two years, starting 2013. The postal voting, conducted as an ordinary resolution by ACC, was passed with 75.65 per cent of members voting in favour, and 24.30 per cent voting against it. There were 0.05 per cent invalid votes.