India’s FY21 cement consumption expected to drop by over 15%

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New Delhi, Sep 16 | India’s cement consumption is expected to drop by more than 15 per cent in FY21 due to weak property demand and a sluggish construction cycle, Fitch Ratings said on Wednesday.

Accordingly, more than 65 per cent of domestic cement demand is driven by the housing segment.

The ratings agency said that steel demand is likely to fall by around 10 per cent supported by a lower hit to demand from other sectors.

“Fitch expects property developers’ operating cash flow to deteriorate on weak demand stemming from low consumer confidence caused by business uncertainty and unemployment concerns, despite falling home-loan interest rates and cuts in transaction costs by some local governments,” the ratings agency said in a report.

“Lower labour availability and disrupted raw-material supply chains are also leading to construction delays.”

According to the report, Reserve Bank of India’s recent measures, including loan restructuring, moratoriums and relaxed lending limits, provide temporary funding relief to the property sector.

“However, the underlying appetite of financial institutions to lend to the sector is likely to remain weak until there is a broader improvement in the sector’s operation, with better end-user demand and pricing support,” the report said.

As per the report, Fitch expects developers with weak financial profiles or a focus on high-end projects, who are unable to avail the benefits of the reserve bank’s restructuring scheme, to be most affected.

“Narrower capital access will lead such developers to tie up with large and reputable ones with strong financial profiles, creating significant opportunities for consolidation and market share gains for the stronger developers,” the report said.

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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