BUSINESS

Tata Realty lines up many projects

To execute Rs. 30,000-crore worth schemes in the next five years

Tata Realty & infrastructure Limited (TRIL), a wholly-owned subsidiary of Tata Sons, is looking at executing Rs. 30,000-crore worth of projects over the next five years in real estate, infrastructure, logistic parks and airports.

In the real estate business, the company has projects worth of Rs. 8,000 crore for setting up residential apartments and special economic zones (SEZs) in Chennai, Nagpur, Kolkata and Gujarat.

Giving these details, Sanjay G. Ubale, Managing Director and Chief Operating Officer, said the company was developing Ramanujan IT City on the Old Mahabalipuram Road in Chennai at an investment of Rs. 3,500 crore. The total size of the SEZ will be 4.5 million sq. ft. of which IT office space will be 35 lakh sq. ft. Besides, the company would have 100 units of serviced apartments and 100 units of residential apartments, he said.

The company was planning to set up a residential project in Amritsar in 7 lakh sq. ft. with an investment of Rs. 400 crore.

He said TRIL was also developing a large residential and commercial project in Nagpur with an investment of Rs. 600 crore. Similarly, it was putting up a Rs. 800-crore residential project in Kochi.

The company was also executing three SEZ projects for Tata Consultancy Services (TCS). Mr. Ubale said the IT-SEZ project in Pune was being built at a cost of Rs. 1,200 crore. Similar projects will also come up in Gujarat (Rs. 800 crore) and Kolkata (Rs. 700 crore). Mr. Ubale pointed out that the company would soon be investing Rs. 600 crore in a 10 lakh sq. ft. residential project in Chennai. He, however, did not indicate the exact location.

On infrastructure business, he said the company at present had an order book of Rs. 1,500 crore for executing a project in the National Highway connecting Pune and Sholapur in Maharashtra.

Mr. Ubale said the company had signed an agreement with Acits, a leading private equity investor, for a joint investment of $200 million to carry out roads and highway projects.

The company hoped that the total business portfolio in this segment would reach $2 billion in another four years. The company was also bidding for road projects in Mumbai, he added.

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