Gautam Adani-promoted Ambuja Cements has planned a nearly Rs 1,000 crore worth of capital expenditure to build two offices, a cement house in Ahmedabad and a regional one in Delhi.
“We are constructing a full-fledged cement house in Ahmedabad and this will be almost closer to Rs 600 to Rs 700 crore,” said Vinod Bahety, chief financial officer of Ambuja Cements, in a call with analysts post the company’s June-2024 ended quarter earnings call.
The decision follows the company changing ACC’s, which is Ambuja Cements subsidiary, registered address from Mumbai to Adani Corporate House at Shantigram in Ahmedabad in the last financial year.