The said land parcel has been acquired for a consideration of Rs 70 crore.

"This is for the purposes of the business of the company,” the cement maker said in a statement.

UltraTech Cement is the cement flagship company of the Aditya Birla Group. It is the third largest cement producer in the world, outside of China, with a consolidated Grey Cement capacity of 136.65 mtpa.

The cement major's consolidated net profit increased 6.59% to Rs 1,688.45 crore on 16.97% jump in revenue from operations to Rs 17,737.10 crore in Q1 FY24 over Q1 FY23.

The scrip shed 0.73% to currently trade at Rs 8245.55 on the BSE.