SUMMARY
The platform, which will ensure on-time delivery of steel, tiles, cement, plywood and doors, paints and ply, and sanitary and plumbing, will serve the markets in Maharashtra, Madhya Pradesh, and Delhi
Last year, the conglomerate said that it would launch such a platform and invest about INR 2,000 Cr in it over the next five years.
Aditya Birla’s Ultratech Cement reported a 17% YoY rise in consolidated revenue to INR 17,737 Cr in Q1 FY24
Aditya Birla Group-owned Grasim Industries Limited on Thursday said that it has launched Birla Pivot, a full-scale B2B ecommerce platform for building materials. The platform competes with startups like Infra.Market and OfBusiness in the segment.
Birla Pivot will serve the markets in Maharashtra, Madhya Pradesh, and Delhi. The platform will ensure on-time delivery and superior quality products, encompassing a range of building materials, including steel, tiles, cement, plywood and doors, paints and ply, and sanitary and plumbing.
The company has also onboarded over 120 brands across various categories, it said.
The announcement came during Grasim Industries Q1 FY24 earnings announcement. The conglomerate had said last year that it would launch such a platform and invest about INR 2,000 Cr in it over the next five years.
“The building materials segment presents a huge scalable business opportunity with a proven path to profitability,” Aditya Birla Group’s chairman Kumar Mangalam Birla had then said.
Aditya Birla Group is already the largest cement producer in the country, through its subsidiary Ultratech Cement. It has also forayed into the paints business.
Today, Aditya Birla’s Ultratech Cement reported a 17% year-on-year (YoY) rise in consolidated revenue to INR 17,737 Cr in Q1 FY24. Meanwhile, the conglomerate said that the progress on ‘Go to Market’, branding and marketing for its paints business is on track with its scheduled commercial launch set for Q4 FY24.
Grasim Industries’ consolidated revenue rose 11% YoY but declined 7% sequentially to INR 31,065 Cr with a profit after tax (PAT) of INR 1,576 Cr.
One of the current leading players in the B2B construction ecommerce market, Infra.Markets’ net profit stood at INR 185.9 Cr in FY22 against total revenue of INR 6,285 Cr.
According to a recent report, the unicorn is in advanced-level talks to raise about $150 Mn from US-based Varde Partners.
Meanwhile, the global business-to-business ecommerce market size, valued at $7,907.07 Bn in 2022, is projected to grow at a CAGR of 20.2% from 2023 to 2030.
