{"id":31806,"date":"2020-08-23T09:04:24","date_gmt":"2020-08-23T03:34:24","guid":{"rendered":"https:\/\/kashmir.today\/?p=31806"},"modified":"2020-08-23T09:04:24","modified_gmt":"2020-08-23T03:34:24","slug":"construction-gear-seeing-demand-uptick","status":"publish","type":"post","link":"https:\/\/kashmir.watch\/?p=31806","title":{"rendered":"\u2018Construction gear seeing demand uptick\u2019"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\"><strong><em>Seeing infra revival: Srinivasaraghavan<\/em><\/strong><\/h4>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Demand for financing purchases of construction equipment and small commercial vehicles (CVs) has seen an improvement in recent months, said T.T. Srinivasaraghavan, MD, Sundaram Finance Ltd. \u201cWe are seeing demand for construction equipment going up in several States,\u201d Mr. Srinivasaraghavan told\u00a0<em>The Hindu<\/em>.<\/p>\n\n\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em><img decoding=\"async\" alt=\"Building blocks: A lot of infrastructure projects are coming back on track, says Sundaram Finance\u2019s MD. AFP\" src=\"https:\/\/th.thgim.com\/business\/ur32sv\/article32416627.ece\/alternates\/FREE_435\/TH22BUCONSTRUCTIONEQUIPMENT\">Building blocks: A lot of infrastructure projects are coming back on track, says Sundaram Finance\u2019s MD | AFP<\/em><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOur disbursements for construction equipment exceeded our disbursements on commercial vehicles. It is almost unreal,\u201d he added. \u201cA lot of projects are coming back on track. The government seems to be committed to infrastructure spending, primarily on roads. The small CV segment too has been robust.\u201d<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The lender\u2019s total disbursements slumped 79% to \u20b9929 crore during the quarter ended June. Of this, disbursements to the construction equipment segment accounted for 22.4%, while that to the tractor segment was 24%. In the first quarter of the previous financial year, these two segments had accounted for 10.7% and 5.1% of the \u20b94,414 crore in disbursements, respectively. Disbursements for CVs accounted for a mere 26% of the total in the last quarter, compared to 57.4% a year earlier.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Asked as to by when he expected clarity to emerge on the way forward in the wake of the COVID-19 pandemic, he said, \u201cDecember, I feel, is a good timeline to aim for; by that time, hopefully, we should have some relief from the pandemic and something will happen to mitigate this. Only then will we know how deep and serious this is. Right now, it is surreal.\u201d<\/p>\n\n\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\u2018Excess capacity\u2019<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. Srinivasaraghavan also pointed out that the broader CV segment, an indicator of an economy\u2019s health, was still not out of the woods.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Asked if he expected potential replacement demand for CVs kicking in any time soon, he said, \u201cExcess capacity that has built up is very significant and therefore the corner that you speak of is still further away than all of us would like. I don\u2019t see revival any time this financial year. Activity is still reviving very slowly. For the existing capacity to get soaked up, it will take another six months.\u201d<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><em>With inputs from <a href=\"https:\/\/www.thehindu.com\/business\/construction-gear-seeing-demand-uptick\/article32416628.ece\">The Hindu<\/a><\/em><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Seeing infra revival: Srinivasaraghavan Demand for financing purchases of construction equipment and small commercial vehicles (CVs) has seen an improvement in recent months, said T.T. Srinivasaraghavan, MD, Sundaram Finance Ltd. \u201cWe are seeing demand for construction equipment going up in several States,\u201d Mr. Srinivasaraghavan told\u00a0The Hindu. Building blocks: A lot of infrastructure projects are coming [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23909,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-31806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/31806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31806"}],"version-history":[{"count":0,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/31806\/revisions"}],"wp:attachment":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}