BigBloc Construction rises as its arm starts commercial production at AAC Blocks plant in Wada, Palghar!
Wada plant is expected to generate revenues of Rs 200 crore per year.
commenced commercial production
BigBloc Construction’s wholly owned subsidiary - Bigbloc Building Elements has commenced commercial production at its 5-lakh cubic meter per annum AAC Blocks plant at Wada in Palghar, Maharashtra. The company will be able to meet the growing demand for AAC blocks in Western India and strengthen its position in the markets including Maharashtra, Gujarat, Madhya Pradesh and Rajasthan with the commercial operation of the Wada plant. At full capacity, the Wada plant is expected to generate revenues of Rs 200 crore per year and will employ around 350-400 people at the plant.
The total capex for the Wada project is estimated to be around Rs 70 crore for setting up 5-lakh cubic meter (cbm) per annum plant. The company has invested Rs 48 crore in the project so far for the commercial operations of Phase I. The company is eligible for a 60% subsidy from the state government for the project and expects to generate 1 lakh units of carbon credits per annum from the Wada project.
Share price movement of Bigbloc Construction Limited
Today, the stock opened at Rs 126.1, with a high and low of Rs 128.80 and Rs 124. The stock closed trading today at Rs 126.25, up by 0.48%.
The stock has a 52-week high of Rs 169.25 and a 52-week low of Rs 85.75. The company has a market capitalisation of Rs 893.70 crore.
Bigbloc Construction Limited was incorporated in 2015. The company is primarily engaged in the manufacture, sale and marketing of AAC (Aerated Autoclaved Concrete) Blocks. These AAC Blocks of the company are marketed under the Brand name NXTBLOC.
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