Monday, November 29, 2021

Table of Contents for Ticker Tape





Ticker Tape - Construction

JSW Steel to create digitally connected smart steel factories in India by FY25

JSW Steel plans to create a network of digitally connected smart steel factories in India by FY25 by deploying advanced technologies such as enhanced AI, machine learning & robotics and connected cloud capabilities.

JSW Steel began its pilot digital initiative in 2017 through implementation of Athena project. These digital pilots have helped JSW Steel drive an EBITDA impact of over Rs.1,200 crore as of March 2021.

As part of its Digitally Connected Smart Steel Factory Roadmap, JSW Steel’s first smart factory to go operational will be JSW Steel Vijayanagar Works in FY23. This will be followed by its steel-making facilities at JSW Dolvi Works in Maharashtra, JSW Salem Works at Tamil Nadu followed by its downstream facilities and those under Joint Control.

JSW Steel is collaborating with Indian and Global companies for its Digitization initiatives including Boston Consulting Group (BCG).

As the Company moves towards its target of achieving 37.5 MTPA steel-making capacity by FY25, its digital roadmap now takes a strategic turn to cover manufacturing operations, mining operations, supply chain, HR, and Finance processes. JSW Steel’s transition to digitally connected smart steel manufacturing includes creating a smart iron zone, creating a smart steel zone, and developing smart milling zone. The overall objective of creating the Smart Iron Zone is to ensure highest possible throughput while maintaining lower costs and reducing wastage / emissions.

In its smart steel zone, JSW will deploy IoT, implement Machine Learning algorithms and leverage the power of Connected Cloud capabilities to achieve additional throughput (by lowering cycle time), optimize operational costs, minimize defects, increase machine availability as well as enhance safety at the steel zone.

 

 

Apollo Pipes begins commercial production at new unit in Raipur

Apollo Pipes has commenced commercial production at its newly set-up unit in Raipur, Chhattisgarh. Apollo Pipes is a piping solution provider. The company’s product profile includes over 1,000 product varieties of cPVC, uPVC, and HDPE pipes, water storage tanks, PVC taps, fittings and solvents. The products cater to an array of industrial applications such as agriculture, water management, construction, infrastructure, and telecom ducting segments.

 

 

ADB clears Rs.1095 crore loan for urban poor housing project in Tamil Nadu

Multilateral funding agency Asian Development Bank has approved about Rs.1,095 crore loan for a sustainable housing project for the urban poor in Tamil Nadu.

Tamil Nadu is vital to India’s economic growth, contributing 8.54 per cent to the country’s gross domestic product (GDP).Economic opportunities have increased rural–urban migration in the state, which already has one of the highest urbanisation rates in India. Tamil Nadu’s housing shortfall accounts for 6.66 per cent of the national deficit, and when mapped against income levels, low-income households bear most of the shortage. The aim is to provide vulnerable and disadvantaged households access to inclusive, safe, and affordable housing infrastructure and services.Tamil Nadu has a population of more than 72 million (7.2 crore), nearly half of which are living in urban areas.The rapid urbanisation and growth in the urban population will require adequate urban infrastructure and services, including housing.

 

The project

With this Rs.1095 crore loan, through the Tamil Nadu Slum Clearance Board, the project will construct housing units in nine different locations and relocate about 6,000 households vulnerable to natural hazards to safer locations.

It will also help Tamil Nadu’s Directorate of Town and Country Planning develop regional plans to map the State’s economic and infrastructure development including affordable housing, environmental protection, disaster risk management, and gender.

A portion of ADB’s assistance will be invested by the State government as equity into the Tamil Nadu Shelter Fund to catalyse private sector financing and support investments mainly in industrial housing and working women’s hostels for low-income and migrant workers.

In addition, ADB will provide a nearly Rs.10.95 crore technical assistance (TA) grant from its Technical Assistance Special Fund to support the capacity building of government agencies responsible for delivering affordable housing and regional planning in the state. The TA will document successful approaches to affordable housing delivery, including the graduation programme for vulnerable relocated beneficiaries, that can be adopted in other cities and countries.

 

 

 

Godrej Properties says sold apartments worth Rs.575-crore in Noida project II phase launch

Mumbai-based realty developers Godrej Properties has announced clocking sales of Rs.575 crore in a single day at the launch of the second phase of its project Godrej Woods in Noida.With this, the Godrej Group’s real estate development company’s total sales at the project Evergreen in Noida sector 43 has touched around Rs.1,140 crore in the last 6 months. The developer said it has sold 340 homes with an area of over half a million square feet on the first day of launch. Noida is an important city for the company and hopes to build on this momentum in the years ahead. Godrej Properties entered the National Capital Region (NCR) market in 2010 and has until now added 17 projects across 5 cities and has delivered 6 projects.

 

 

 

Sunteck Realty inks pact for 10-million-sq-ft project in Kalyan near Mumbai

Real estate developer Sunteck Realty has entered into an agreement to jointly develop a prime 50-acre land parcel at Kalyan near Mumbai. The company plans to develop an integrated residential township on the plot that has a total development potential of 10 million sq ft. The entire project will be executed in phases and given the current property prices in the vicinity the developer is expected to fetch revenue of around Rs.9,000 crore over the next 7-8 years.

With this joint development agreement with land owner Amar Dye Chem, Sunteck Realty has established its presence in the eastern suburbs of Mumbai Metropolitan Region (MMR) in addition to its existing presence in western suburbs, the developer said in a regulatory filing.

This is the fourth such project acquisition by Sunteck Realty since the outbreak of Covid19 pandemic. Prior to this Kalyan project, the company has made three project acquisitions at Vasai, Vasind and Borivali, totalling 8 million sq ft. With this project’s development potential of 10 million sq ft, the company has added a total 18 million sq ft to its portfolio in the last few quarters. The ongoing consolidation in the real estate sector has accelerated due to the outbreak of Covid19 pandemic. Large established and listed realty developers are gaining more market share in terms of sales and liquidity as homebuyers are relying more on developers’ execution track record and sound financial position to take the project to conclusion. With several infrastructure initiatives aimed at improving connectivity, many established realty developers have been venturing into the peripheral areas of Mumbai region.

Over the last few quarters, peripheral locations of big cities have been witnessing better momentum in terms of residential demand and sales too as homebuyers are increasingly looking for bigger homes in gated projects with large layouts in the backdrop of Covid19 pandemic. Top real estate developers are expected to double their sales over the next 3-4 years driven by robust demand, increasing affordability and industry consolidation, CLSA said in a recent report on India’s property industry. With renewed business confidence, realty developers are also seeking to ramp up new project acquisitions.

 

 

 

Taurus Investment Holdings plans to raise around $250 million for a fund to invest in India’s commercial and retail real estate

Taurus Investment Holdings plans to raise around $250 million for a fund to invest in India’s commercial and retail real estate market. The firm plans to focus on top cities in South India and develop a portfolio of $1 billion over the next five years. The proposed real estate-focussed fund will be raised in two parts of $125 million each.

Taurus had earlier planned to raise a $500 million commercial and retail fund but decided to shrink its size due to low velocity of deals in the market. Taurus Investment Holdings India had kept its fundraising plan on hold due to the pandemic and the resultant uncertainties in the market. The new fund will also invest in data centres of up to 25mw capacity and last-mile specialised logistic facilities across smaller cities. The firm plans to focus on secondary cities like Visakhapatnam, Coimbatore, Mangalore and Trichy.

Taurus is currently developing 5.5 million square feet of mixed-use space at Taurus Downtown Trivandrum along with the Embassy Group, involving total investment of Rs.1,500 crore. Construction of the project has resumed after a pause of almost 18 months. The project is expected to be completed by 2024.

To date, Taurus has purchased, developed and sold more than 55 million square feet of office, industrial, retail and residential assets globally with a total acquisition value of over $8 billion.Global funds have again started looking at deals in the Indian real estate sector.

 

 

 

Sunrays Infrastructure to develop 1.4 lakh sq ft in Faridabad

Sunrays Infrastructure Pvt Ltd, will develop 1.4 lakh sq ft of commercial space in R Plaza 79 in Sector-79,Faridabad, Haryana. The phase one of the project include 1.3 lakh sq ft of commercial space and revenue potential of the project is Rs.200 crore. The company had acquired the 2.7 acre land in 2011 and aims to complete the project within two years. The company has tied up with IQI India (Global Real Estate Advisory Firm) for feasible and retail operations dynamic based occupancy bringing business goal achievements. R Plaza 79 will have 84 showrooms and 56 showrooms would be handed over for fitout in February 2022. There has been an increasing demand of such organised high-street retail destination

 

 

 

Housr launches 2 new properties, aims at 12 more by December

With the addition of these two boutique properties to its portfolio, Housr has 20 properties across NCR, Pune and Hyderabad and is aiming to launch more properties in the next 6-9 months across the country. The rentals range from Rs.12,000 to Rs.18,000 for twin sharing and Rs.22,000 to Rs.35,000 for single occupancy. These additions will offer 1,500+ beds in multiple formats across studios and BHK’s ranging from 75 to 500+ beds in each property. Housr has already taken steps to enhance our operational strength, technical capabilities and service delivery in a post Covid-19 landscape. The company aims to expand its presence in the South India market in Bangalore and Chennai.

 

 

 

Over 80% of prospective homebuyers likely to buy property in 3 months, says survey

Majority of prospective homebuyers are looking to purchase a property in the next three months with self-use as a primary reason while investor interest has started to increase in certain markets, shows a JLL-Roof and Floor survey.

Around 80% of over 2,500 surveyed prospective homebuyers across the top six cities of Mumbai MMR, Delhi NCR, Bengaluru, Hyderabad, Chennai and Pune have indicated their interest in buying a house in the next one quarter.

According to the survey, nearly 80% of the prospective homebuyers indicated a preference for properties in the sub-Rs 75 lakh category. This hasn’t changed much over the course of the pandemic, while the size of the apartment has assumed greater significance and there is a clear preference for larger, more spacious homes. The buyers are today showing a greater willingness to relocate to suburban or peripheral markets to get larger homes while keeping the budget intact.

With more than 80% of the prospective homebuyers expected to make a purchase in the next three months, the residential market is expected to get back on the recovery path and 2021 is likely to end on an optimistic note. Developers are launching optimal sized houses to capture the changing preferences of consumers in the post-COVID era. While some of these changes will be fleeting in nature, others will be permanent. In the residential real estate sector, there is still a great deal of uncertainty around ‘what permanent changes we are likely to witness.

Cities like Bengaluru, Chennai, Hyderabad as well as the Delhi NCR market are the prominent cities where the demand for 3BHK apartments has increased. Layouts of apartments, presence of balconies and an additional small room for work and online classes are in focus. This trend is more prominent in the cities of Mumbai and Pune where 1BHK and 2BHK are usually the most sought-after configurations.

Post ‘Unlock 1.0’ of 2020, the uptick in residential sales was primarily driven by pent-up demand and the presence of ‘affordable synergy’ in the market. However, sustained recovery in the next few quarters and the resilience shown during the second Covid19 wave are indicative of a fundamental shift in the sentiment towards home ownership. Residential real estate is an enabler of our existence and contrary to popular belief, recovery in the residential sector was quick and more resilient. The recovery process, which started in the third quarter of 2020, was derailed in the second quarter of 2021 because of the second Covid19 wave. With most of the prospective homebuyers expected to make a purchase in the next 3 months, the residential market is expected to get back on the recovery path and 2021 is likely to end on an optimistic note. New launches are expected to go up in the second half of 2021 as developers launch new projects to monetize their land banks.

 

 

 

Realty developers likely to post record bookings in October-December led by launches

Real estate developers are likely to post record sales booking numbers in the second half of the financial year 2021-22 led by new launches as the momentum of robust response from homebuyers witnessed so far is expected to be continued during the festive October-December quarter. The beginning of the festive season, the waning of the second Covid wave, record low mortgage rates, strong hiring and salary growth in the information technology, IT-enabled services sector has led to developers preponing many launches to August-September. These launches have received good response from homebuyers.

Godrej Properties announced selling Rs.575 crore worth of housing inventory at phase 2 of its Noida project on the day of launch. Prestige Estates was able to sell over 800 plots spread over 1.7 million sq ft worth Rs.850 crore at its Bangalore project earlier this month.

ICICI Securities expects this momentum to be carried forward from October onwards during the festive season and sees developers to post record sales booking numbers in the second half of the financial year.

While prices have remained stagnant over the last 5 years, ICICI Securities believes that prices may see a single digit rise over the next 2-3 years annually as inventory levels have stabilised and the Indian residential real estate market has undergone clear signs of consolidation with the market share of larger, organised developers having grown to over 24% in FY21 of tier 1 residential sales value against nearly 11% in FY17. With an increase in input costs of 5-10% over the last 12 months, it believes there is a case for a price increase and we have already seen marginal price hikes of 2-5% by developers during April-June.

 

 

 

Shakti Pumps eyes Rs.2,000 cr topline in FY22 on significant demand revival

Solar water pump maker Shakti Pumps expects to more than double the topline to Rs.2,000 crore this fiscal on the back of more adoption of its products by farmers which is being driven by the heavy central and state subsidies that run up to 90 per cent. The company closed FY21 with a topline of Rs.930 crore, which was nearly three times its previous year revenue. Of the past year revenue, Rs.560 crore came in from solar engineering, procurement and construction (EPC) business (setting up the full unit) and Rs.180 crore from exports. Shakti Pumps, which has manufactured the country’s first BEE 5 star-rated pumps and is also the first domestic company to produce 100 per cent stainless steel pumps and energy efficient motors, was founded in 1982 in Pithampur, near Indore.

At present, its products reach as much 125 world markets. The company has filed for 20 patents since it pioneered the solar water pumps in 2010. Other key players in the solar water pump market include Alpex Solar, Bright Solar, Claro Energy, Conergy Energy, Tata Power Solar Systems, Lorentz, Greenmax Technology, and Udhaya Semiconductors and so on.

Shakti Pumps has two plants in Pitampur with a cumulative production capacity (solar and motorised) of 5 lakh units per annum in two shifts and 3.5 lakh units in single shift. Its special economic zone (SEZ) unit near-by can produce 1.5 lakh units per annum. Shakti Pumps has installed over 1 lakh solar pumps out of (1.2 lakh installed) since it entered the segment in 2010 and in FY21 it had installed 20,000 units under the EPC model (setting up the solar water pump unit along with the solar power panel units) and 15,000 units were sold to others who install such pumps across.

 

 

 

GMR to invest over Rs.500 crore in Hyderabad Airport metro link project

GMR Group, operating the Rajiv Gandhi International Airport (RGIA) in Hyderabad, will invest more than Rs.500 crore by 2024 in a metro rail link project for connectivity across the city. The Rs.5,000 crore project has been proposed by the Telangana government and is expected to span 31 kilometers in total.

According to a consultation paper proposed by GMR Hyderabad International Airport Ltd, the Group will invest Rs.519.52 crore.

The envisaged project cost of metro line would be around Rs.5000 crore of which HIAL’s contribution would be in the range of Rs.500 Crores (10 per cent of the project cost) which is equivalent to the estimated cost of metro connectivity within the airport precinct. The metro rail link project will be extended to the RGIA to create accessibility for people living in different areas of Hyderabad. Telangana government has already formed a Special Purpose Vehicle- Hyderabad Airport Metro Limited (HAML) to develop, construct, operate and manage the metro.

 

 

 

Brookfield close to buying 2 NCR assets of Bharti Realty near Delhi airport and Gurgaon for about $1 billion

Canada’s Brookfield, one of the world’s most comprehensive multiple asset managers and buyers with $600 billion of belongings underneath administration, is sealed to purchase Bharti Realty’s exclusive business properties close to Delhi airport Gurgaon for around $1 billion.

 

Valuations Extensively Unaltered

Bharti Realty is the authentic and actual property arm of the Sunil Mittal-led Bharti Enterprises. Its exclusive Aerocity properties, amongst the most expensive and valuable business fields within the National Capital Region (NCR), have noticed some exits. Nevertheless, valuations have widely remained fixed.

Bharti might use a division of the proceeds of a possible deal in its telecom enterprise, especially as flagship Bharti Airtel faces Rs.43,980 crores in total adjusted gross income (AGR) dues, of which it has to this point paid Rs.18,004 crores, specified folks with data of the matter. The rest must be paid by March 31, 2031. Additionally, Bharti Airtel has a spectrum funds value of Rs.8,500 crores arising in FY23.

A senior Bharti Realty government stated that the corporation would proceed with its property asset administration mannequin within the capacity of an advisor. It intends to manage around 2 million sq ft of economic area in NCR without proudly possessing it. The firm is attempting to execute its Real Estate Asset Management (REAM) mannequin in two-three drives within the micro-markets of Noida and Gurugram.

Bharti Realty will operate as a fee-based mannequin with landowners, managing on asset conceptualisation by expenses without investing something quickly.

Additionally, the firm has a funding channel of Rs.10,000 crores. It’s developing a 10 million sq ft of grade A workplace area within the next section of Aerocity’s growth.

Current property leases at Aerocity Phase II are within the Rs.210- to-250 per sq ft vary. Leases will commence at around these ranges and pass Rs.300 per sq ft, apparently making it one of India’s essential costly business areas. Delhi International Airport Ltd (DIAL) has held auctions for workplace areas across the airport in two phases of 5 million sq ft every. According to DIAL, to improve the primary section of 5 m sq ft, the developer spends a one-time sum of Rs.1,837 crores and an annual lease of Rs.363.5 crores until 2036. Lease rental will intensify by 50% for the prolonged-time period of 30 years till 2066. Bharti Realty is expecting clutch plan approval earlier than partaking consultants for building.

 

 

 

Signature Global launches two projects

Signature Global has launched two projects in Sector 81 and 92. Signature Global City 81 and Signature Global City 92 are the 6th and the 7th residential projects under DDJAY by the company in sector 81 and sector 92. Spread over an area of 11.97 acres Signature Global City 81 will offer a green life within a plotted residential complex with premium independent floors. Similarly, Signature Global City 92 is a 19.48 acres project out of which 10.3 acres will be developed in first phase of development.

Sectors 81 and 92 are strategically located having a direct connectivity to Pataudi Road and NH8 respectively. Signature Global is an active member of IGBC and has launched 7 IGBC gold rated green housing projects under affordable housing policy in Gurugram. The land in Sector 81 is owned by Sternal Buildcon and Signature Global Developers in Sector 92. The floors in Signature Global City 81 starts from Rs.61.91 lakh plus additional charges and the floor price in Signature Global City 92 starts from Rs.54.47 lakh plus additional charges.

 

 

 

Cement companies to invest up to Rs.1,700 crore in waste heat recovery system to save power cost

Major cement companies will invest up to Rs.1,700 crore in two fiscal years ending March 2022 to set up 175 MW of waste heat recovery system (WHRS) capacities for saving power cost, as per Icra report. It takes an investment of up to Rs.8-10 crore to set up one MW WHRS, and the overall cost for the 175 MW for FY21 and FY22 will come at Rs.1,400-1,700 crore. The agency said domestic cement companies in recent years have been investing in alternative/renewable energy sources, replacing known sources such as fuel in the form of coal as well as thermal power generation which has afforded the players multiple benefits apart from reducing carbon dioxide footprint.

The usage of renewable sources of energy such as solar energy, wind energy and WHRS has been gaining momentum, in particular the latter has emerged as one of the cheapest sources of power generation given the negligible input costs.

 

 

 

Kohinoor Group launches 7 new residential launches in their Mega September month

Kohinoor Group has launched five new projects and two new towers across Pune city in seven different locations.

The brand has carved a niche for itself by launching Pimpri-Chinchwad’s first grade A’ commercial project earlier this year. These new projects will further strengthen the company’s market position in the Pune market, especially in the residential segment.

Details of the projects: Presidentia at BT Kavade Road; Shangrila at Pimpri Waghere; Sportsville at Maan (Hinjewadi Ph 1); Kohinoor Grandeur at Ravet; Kohinoor Emerald 1 at Sus; Kohinoor Sapphire II at - Tathawade; and Kohinoor Coral - Bhiorwadi (Hinjewadi Ph 3).

Details of the projects- (Project name and location) overall 1.4 Mn development.

  • Presidentia - B. T. Kavade Road
  • Shangrila – Pimpri Waghere
  • Sportsville – Maan (Hinjewadi Ph 1)
  • Kohinoor Grandeur – Ravet
  • Kohinoor Emerald 1- Sus
  • Kohinoor Sapphire II - Tathawade
  • Kohinoor Coral - Bhiorwadi (Hinjewadi Ph 3)

The encapsulation of present-day living, select luxuries and premium offerings alongside the best properties has another name- Kohinoor. Kohinoor Group has always strived to deliver their best to their customers and has followed ‘Sada sukhi raho’ philosophy behind their every project till now. Similarly keeping the legacy in mind, the new properties would be the amalgamation of the rich highlights of the towers and the conveniences in the encompassing, which will demonstrate that Kohinoor projects are the new style statement in the luxury market of Pune.

 

 

 

Shyam Steel to expand its retail presence pan India

Shyam Steel is a well-known player in the retail markets of eastern, north-eastern, and northern markets of the country and has been a major supplier of TMT bars to mega infrastructure projects. The company has established a strong network of over 6000 distributors, dealers, and retailers in the markets it currently operates in,and will now market its brand across central, western, and southern India.

The company will be establishing its presence across every corner of these sates. It has developed a highly efficient network of third-party logistics service providers to take its products to every corner of the country smoothly and punctually. The company plans to appoint a team of around 500 distributors, dealers, and retailers across each of these sates to ensure easy accessibility of its brand to home builders at reasonable prices.

Shyam Steel has played a key role in transforming steel selling from a commodity model to a brand marketing model. Its TMT brand enjoys a very high recall among consumers.

Its branding strategy has converted the cyclical commodity, TMT,to a product with year-round demand. This has helped the company to remarkably improve its sales volumes.

The success of the brand lies in the property of its FlexiStrongTMT rebar, which is not just strong but a perfect balance of strength and flexibility. The company’s products are endorsed by Virat Kohli and Anushka Sharma - two superlative personalities in their chosen fields. Their relationship reflects the perfect balance of strength and flexibility that is the property of their TMT.

 

 

 

Housing.com ties up with startup Homzhub for property management services

Realty portal Housing.com has entered into a partnership with prop-tech start-up Homzhub for offering property management services to its customers. Under this partnership, Housing.com will offer end-to-end, remote property management solutions to its users.

Singapore-headquartered Homzhub offers services related to leasing, tenant management, agreement registration, property inspection and property maintenance.

While Housing.com and Homzhub plan to expand this property management service pan-India in the months to come, the service is being initially launched in Pune, Nagpur and Bengaluru.

The tie-up will enable homeowners to manage their real estate portfolios from anywhere in the world, using the Housing.com and Homzhub software-as-a-service (SaaS) platform.

The new facility, which is already live on the Housing.com mobile app, will be particularly helpful for the NRI clients of Housing.com, who will be able to manage their real estate portfolios digitally from remote locations.

 

 

 

PropTech Start-up, Novyy, launches Buy-to-Let with Mahindra World City, Chennai

Proptech startup Novvy Technologies Ltd, a real estate buying and investing platform, has launched a real estate investment product in the Mahindra World City project in Chennai, to offer “buy-to-let” assets for buyers in India and Indians living overseas.

A block of 100 apartments within the Mahindra World City complex will be fully managed by Novyy on behalf of the buyers, where the company will provide asset management services to its buyers, including finding tenants, collecting rentals and maintenance of the properties.

Mahindra World City, at Chengalpattu, Chennai, is developed by Mahindra Lifespace Developers Ltd. Domestic and NRI investors can buy one-bedroom apartments at Rs.20.45 lakh or 1.5-bedroom apartments priced for Rs.25 lakh.

Property prices can be expected to go up by 5% year-on-year, thus pushing investment IRRs to double digits. With this fully managed offering, investors can be anywhere in India or abroad—this is stress-free property ownership and investors can manage their properties from our Buy-to-Let App. Novyy’s ‘buy-to-let’ proposition, which is strategically aligned to our ‘Mahindra Happinest’ offerings comprising well-connected, future-ready homes that enable aspirational lifestyles through access to a thriving communities and features and amenities that promote user well-being. This offering could be beneficial for domestic and NRI investors alike.

 

 

 

UltraTech Cement commits to 100% renewable energy usage by 2050

Indian cement maker, UltraTech Cement Limited has set a target to source 100% of its electricity requirement through renewable energy by 2050 as the company commits to Climate Group’s RE100 initiative at Climate Week NYC 2021. “In the last two years, UltraTech has scaled up its contracted renewable energy capacity by 2.5 times.

The Company has already set a target to scale up its green energy mix to 34 per cent of its total power requirement by 2024, from the current levels of 13 per cent.

The RE100 announcement is in line with UltraTech’s focus to institutionalise its carbon reduction initiatives through measurable targets and commitments. UltraTech’s GHG reduction targets also include UltraTech’s target to lower its CO2 intensity in cement to 462 kg net CO2 per ton of Cementitious material (net CO2/t.cem.) by 2032.

So far, a total of 6 per cent reduction in Scope-1 CO2 emissions has been achieved with the base year of 2017.

UltraTech has also linked its financial commitments with sustainability targets through the issuance of dollar-based sustainability linked bonds.




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