SMPL
New Delhi [India], December 27: Synergy Steels, one of India's leading stainless-steel manufacturers, commends the remarkable growth forecast in the real estate and infrastructure development sectors. According to the joint report by The Confederation of Indian Industry (CII) and Knight Frank, India's urban centers are projected to require 22.2 million housing units, with 95.2% focused on the affordable housing segment. This demand is driven by urbanization and increasing employment possibilities. This helps promote a favorable environment for stainless steel to expand its base from the core areas of application into emerging ancillary areas such as construction and infrastructure development. These industries remain pivotal in driving demand for stainless steel, reinforcing its role in India's growth trajectory.
The report reveals that meeting this demand for housing will necessitate the construction of 96,000 affordable housing units per day. With the global trends inclined towards sustainable and long-lasting materials, stainless steel with its economical, robust versatile profile stands to gain from this market.
Subhash Chand Kathuria, Chairman of Synergy Steels, noted, "The real estate sector is not only a growth engine in itself but also a stimulus for adjunct industries thereby creating demand for construction, heavy machinery and industrial tools. It helps scale up infrastructure development, from connectivity and upgraded roads and railways to new or modernized aviation centres. This creates a ripple effect where levels of economic activity and real estate values increase. This coupled expansion has major potential for stainless steel applications, especially in low-cost housing and infrastructure projects. With its impressive strength-to-weight ratio, corrosion resistance, and lifespan, stainless steel can help reduce lifecycle costs as a long-term solution. It can also reduce corrosion-induced losses resulting in savings to the economy of up to USD 110 billion per year. When we successfully integrate stainless steel into core infrastructure and real estate, we not only improve cost efficiency, but also meet the sustainability needs of the economy."
Anubhav Kathuria, Managing Director of Synergy Steels said, "Government's push towards real estate development and infrastructure is evident through initiatives such as the recent approval of eight national high-speed corridor projects under which 936-km length highways will be constructed at a cost of Rs 50,655 crore and the 12 New Industrial Cities under National Industrial Corridor Development Programme (NICDP) with investments worth Rs28,602 Crore.The PM Gati Shakti also sets the momentum for integrated project execution across transport and energy, communication and social infrastructure. This upswing in infrastructural development creates significant real estate opportunities in proximate regions and further drives material demand for robust and low-maintenance materials such as stainless steel. The Architecture, Building and Construction Sectors (ABC) and Process Industries are expected to have a 22% and 40% share in total stainless-steel demand, respectively. The low cost of stainless steel, along with a 100-year service life and low maintenance, has led stainless steel to become an attractive option for affordable housing and large-scale civil engineering applications. With India's promising growth curve, stainless steel will contribute to sustainable, long-term value creation for these key areas."
Synergy Steels celebrates that the real estate industry is at the cusp of a hyper-growth cycle expected to support a 5-6% growth rate. By 2047, the real estate market will be ready for US$4.8t, approximately 18% of the predicted US$26t GDP. This translates to diversification in stainless steel applications and will be reflected in higher demand for stainless steel, especially in affordable housing, infrastructure and construction industries. Due to its special characteristics of strength, corrosion resistance, and durability, industrial stainless steel is becoming the favoured material for India's infrastructure revival.
About Synergy Steels
Established in 1973, Synergy Steels specializes and leads in long stainless-steel products in India. The company's diverse product portfolio includes billets, wires, wire rods, stainless steel rebars, bright bars, etc, among other products. Synergy Steels operates state-of-the-art facilities across India, boasting a combined capacity exceeding 250,000 tonnes. Emphasizing quality, the company upholds rigorous safety standards. Synergy Steels' products cater to construction, infrastructure, energy, and manufacturing sectors, supplying renowned processing mills across India and global markets. Committed to social responsibility and sustainable practices, the company prioritizes Environmental, Social, and Governance (ESG) initiatives. Certified with ISO 9001:2015, Synergy Steels Limited maintains cutting-edge industrial infrastructure featuring advanced, technology-driven machinery.
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Website - https://synergysteels.com/
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