ACC on Sunday divulged its confidence on market and expecting good results in the current fiscal from the real estate in the major cities “With signs of recovery in the real estate sector, we expect to see considerable improvement by the end of this year with a turn around some time in the middle of next year,” ACC Managing Director Sumit Banerjee told reporters. Hoping healthy figures from the sector, he told that the Ready-mix concrete is the future of cement business.
He said, the developed world is enjoying 80-90% of the cement sales through the Ready-mix concrete route, and India, merely 10-15 per cent. Last year the domestic RMC business segment was ailing due to global meltdown and it was hard to found in the business in Tier-II and Tier-III cities in compare to metros. ACC’’s ready-mic concerete subsidiary, ACC Concrete, posted a net loss of Rs 96.81 crore in 2008 though sales volume grew by 37.4 per cent over 2007 and turnover increased by 40 per cent to Rs 514.53 crore.
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