Ambuja Cements to Pour ₹1,000 Crore into New Offices in Ahmedabad and Delhi

Ambuja Cements, under the leadership of Gautam Adani, is set to invest nearly ₹1,000 crore in the construction of two new office buildings. The planned expenditure includes a substantial ₹600 to ₹700 crore for a major cement house in Ahmedabad and less than ₹500 crore for a regional office in Delhi. The move follows ACC's recent relocation to Ahmedabad’s Adani Corporate House, further cementing the city’s role in the company's operations.

Vinod Bahety, Ambuja Cements' CFO, disclosed these figures during a June 2024 earnings call, confirming that the capital expenditure will be accounted for on ACC’s financial books. The new office in Ahmedabad will house the relocated ACC headquarters, while the Delhi office aims to bolster regional operations.

The planned investment has sparked debate among analysts, with some questioning the necessity and scale of the spending, especially for the Delhi office. The total cost could also include land acquisition expenses, although this remains unconfirmed due to unanswered queries.

The decision to build new offices comes amid recent corporate shifts, including the April acquisition of a 1.5 MTPA capacity from My Home Industries. The fate of ACC’s former Mumbai office, Cement House, remains uncertain, leaving room for speculation about its future use.

News by Rahul Yelligetti