Birla to invest Rs 2,200 cr

Birla to invest Rs 2,200 cr

Birla Corp reported its first profit increase in three years and announced its plans to spend Rs 2,200 crore to add capacity, forecasting demand will revive. The company, will increase its capability to make the construction material by 48 per cent to 13.8 million tonne/year by 2015, said
G Jayaraman, Executive President, Birla,
which sells 80 per cent of its cement to home builders, will set up three plants to add to its seven factories, he further informed. The company is expanding on optimism that lower borrowing costs will rekindle demand from homebuyers after a slowdown propelled unsold apartments to a record in the final quarter of last year. The RBI may cut its policy rate by another quarter point in 2013 after three reductions since January, economists'forecast. The maker of Samrat and Chetak brands of cement forecasts sales will increase 56 per cent to Rs.4,000 crore by 31st March 2016,

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