BigBloc Construction in expansion mode, to set up green-field facility in Palghar

BigBloc Construction Limited, a leading company in the aerated autoclaved concrete block space in India and the only listed company in the segment, has achieved financial closure for expansion at Wada in Maharashtra’s Palghar district. The company is setting up a green-field facility with a capacity of five lakh cubic metres per annum for the AAC block at this space. The total capex for the project is estimated to be around Rs 65 crore.

This expansion for the project is also eligible for a 60 per cent subsidy from the state government and also carbon credits. For Q1FY23, the company reported a net profit of Rs 8.43 crore, a year-on-year growth of 590 per cent against a net profit of Rs 1.22 crore in Q1FY22. The total income during Q1FY23 rose by 95 per cent YOY to Rs 55.60 crore. “We are pleased to announce that the company has achieved financial closure for its expansion in Maharashtra.

Despite a challenging economic and business environment, the company has delivered a robust financial performance quarter on quarter, maintaining healthy growth in revenue and profitability,” said Narayan Saboo, CMD, Bigbloc Construction Ltd.