Grasim Industries Limited, owned by Aditya Birla Group, unveiled its new venture, Birla Pivot, a comprehensive B2B ecommerce platform dedicated to building materials. This move positions the conglomerate to compete with emerging startups like Infra.Market and OfBusiness in this segment.
Birla Pivot Serving Key Markets with Quality Products
Birla Pivot is set to cater to markets in Maharashtra, Madhya Pradesh, and Delhi. The platform is committed to ensuring timely deliveries and offering top-notch building materials, including steel, tiles, cement, plywood, doors, paints, ply, sanitary ware, and plumbing.
Birla Pivot Wide Array of Brands and Categories
With a robust approach, the platform has successfully onboarded over 120 brands. Spanning various categories, solidifying its stance as a versatile marketplace for building materials.
Strategic Vision and Investment
Grasim Industries announced its Q1 FY24 earnings release. The conglomerate had already revealed its plan to create a platform. It aims to invest about INR 2,000 Crores in its development over the next five years. Kumar Mangalam Birla, Chairman of Aditya Birla Group, highlighted the substantial potential in the building materials sector. He stressed the chance for scalability and profitability.
Thriving in a Competitive Landscape
The Aditya Birla Group, a prominent cement producer in the country through its subsidiary Ultratech Cement, holds a notable position in the industry. Ultratech Cement witnessed a 17% YoY growth in consolidated revenue to INR 17,737 Crores in Q1 FY24. The conglomerate’s paints business also made promising strides. Grasim Industries announced an 11% YoY rise in consolidated revenue. The conglomerate achieved INR 31,065 Crores in consolidated revenue in Q1 FY24 with a profit after tax (PAT) of INR 1,576 Crores.
Meanwhile, another key player in the B2B construction ecommerce sector, Infra.Market, achieved a net profit of INR 185.9 Crores in FY22, accompanied by a total revenue of INR 6,285 Crores. The unicorn, currently engaged in advanced-level discussions to secure approximately $150 Million in funding from US-based Varde Partners.
Recent industry reports project that the global business-to-business ecommerce market, which reached a significant size of $7,907.07 Billion in 2022, will continue to grow strongly. Experts anticipate a robust Compound Annual Growth Rate (CAGR) of 20.2% from 2023 to 2030 for this market.
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