Cement demand to grow 7-8% backed by strong real estate and PMAY push: Axis Securities

Axis Securities reports that India's cement demand will likely maintain momentum, projecting 7-8% growth in FY26. This is fueled by government housing initiatives like PMAY and infrastructure development. Despite a slow start in Q1FY25, demand rebounded strongly in Q3 and Q4, with expectations for continued growth into Q1FY26 due to increased government spending and construction activity.