Grasim sees cement volumes rising on infrastructure

Grasim sees cement volumes rising on infrastructure
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First Published: Wed, May 20 2009. 04 03 PM IST
Updated: Wed, May 20 2009. 04 03 PM IST
Mumbai: Indian cement maker Grasim Industries Ltd expects higher infrastructure spending by the government to drive volumes for cement, a senior official said on Wednesday.
“Infrastructure should be a major driver. The government is likely to increase spending. This should help our cement business,” chief financial officer Adesh Gupta said.
India has said it needs about $500 billion over five years to overhaul its crumbling infrastructure.
Grasim, part of the Aditya Birla group, reported a 5% fall in March quarter net profit to Rs5.69 billion on Tuesday.
Grasim and its unit Ultratech Cements have combined cement-making capacity of 35 million tonnes in India.
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First Published: Wed, May 20 2009. 04 03 PM IST