Mumbai: The Tata Group today announced its three unlisted companies — Tata Housing, Tata Realty and Tata Projects — would execute projects worth at least Rs 70,000 crore in the next five years. These companies have projects worth Rs 15,000-20,000 crore under execution in 2013-14. Figures for the previous years are unavailable.
This is probably for the first time the companies of the group in the infrastructure segment have come together for a unified goal.
A Tata Group senior, who did not wish to be identified, said, “On internal forums, there is a lot more emphasis on the infrastructure business now.” Besides, there is a clear opportunity in the market to be tapped.
“There is a large opportunity for Tata Group companies to participate in sectors such as roads and highways, in which investments are expected to grow at 16 per cent a year,” says Siddhartha Roy, Tata Group’s economic advisor.
Tata Realty and Infrastructure, a wholly owned subsidiary of group holding firm Tata Sons, is scouting for new highway projects to benefit from increasing investment in road infrastructure. It constructed the 110-km Pune-Solapur four-lane project under the National Highways Development Programme this year.
The company acquired three road projects from infrastructure firm IVRCL this year. Now, it is looking at road projects worth Rs 7,500 crore in the next five years. “We are looking for more growth through projects in airport development and urban transport,” said Sanjay G Ubale, managing director and chief executive officer, Tata Realty.
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