Know the Cement Company That Built the New Parliament!

Sunday marked a momentous day in the history of India as Prime Minister Narendra Modi inaugurated the country’s new Parliament building. This iconic structure is not just a physical edifice; it represents the aspirations of 1.4 billion Indians and serves as a vehicle to propel India towards its goal of becoming a developed nation in the next 25 years. Let us delve into the fascinating facts surrounding the new Parliament building and discover how companies like Visaka Industries Ltd have benefited from its construction. 

1. A Monumental Undertaking 

The foundation stone for the new Parliament building was laid in 2020, and within just three years, the main structure was completed, leading to the grand inauguration in 2023. The swift pace of construction exemplifies India’s commitment to progress and development. 

2. A Global Marvel 

Upon completion, the new Indian Parliament building will rank as the fourth largest in the world, following the parliament houses of China, Romania, and the USA. Its magnificent architecture and design are a testament to India’s rich heritage and modern vision. 

3. Empowering Visaka Industries Ltd

Visaka Industries Ltd., a prominent Indian company engaged in the manufacturing of cement fibre sheets, fibre cement board & panels, solar panels, and synthetic yarn, stands to benefit greatly from the construction of the new Parliament building. The company’s Vnext brand, specifically its fibre cement boards, played a vital role in the completion of the project. 

4. Supplying Materials for the Central Vista Project 

Visaka Industries Ltd. supplied approximately 300,000 square feet of fibre cement boards for the new Parliament Bhavan under the Central Vista Project. This material found extensive application in wall panelling and wall cladding, contributing to the aesthetic appeal and functionality of the building.

5. Performance and Potential 

In Q4FY23, Visaka Industries Ltd. reported a 7.69% YoY increase in sales. While operating profit and net profit experienced a decline of 52.15% and 85.47% YoY, respectively. 

6. Stock Market Insights 

Over the past three years, Visaka Industries Ltd. has delivered impressive returns, gaining 126% and establishing itself as a multibagger stock. However, in the last year, the stock experienced a decline of 25%, and on a year-to-date basis, it has decreased by 10.21%. Investors should keep a close eye on the stock for potential opportunities in the near to medium term.  

Conclusion 

India’s new Parliament building is more than just a physical structure; it is a symbol of the aspirations and ambitions of millions of Indians. The completion of this monumental project has not only contributed to India’s architectural landscape but has also presented opportunities for companies like Visaka Industries Ltd. The company’s association with the construction of the Parliament Building has showcased its expertise and products on a global scale. As India moves forward on its journey towards becoming a developed country, the new Parliament building will continue to stand tall, representing the collective dreams and determination of the nation.