Biznextindia : Escorts Kubota Limited’s Agri Machinery business in Faridabad recorded a 27.8% growth in February 2023, selling 7,811 tractors compared to 6,114 tractors sold in February 2022. Of these, domestic tractor sales for February 2023 were 7,245 tractors, indicating a growth of 27.4% from 5,686 tractors sold in February 2022. Meanwhile, export tractor sales for February 2023 reached 566 tractors, growing by 32.2% from 428 tractors sold in February 2022.
“Demand for tractors remained robust across geographies, fueled by positive sentiment, record rabi sowing, better crop prices, increased Union budget allocations to rural and Agri sector, and good levels of water reservoirs. As a result, the momentum for demand is expected to remain strong” the company said in a regulatory filing.
Meanwhile, the company’s Construction Equipment Business in February 2023 sold 470 machines, registering a growth of 21.8 percent as against 386 machines sold in February 2022.
“With the current pace of ongoing infrastructure projects and proposed investment outlay on various projects including smart cites, we expect growth momentum to continue in Construction Equipment space” the company said.