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| Tata Realty to put Rs 800 cr in Chennai projects |
| T E Narasimhan / Chennai Aug 13, 2010, 00:14 IST |
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Tata Realty and Infrastructure Ltd (TRIL), a 100 per cent subsidiary of Tata Sons, is planning to invest around Rs 800 crore in residential and infrastructure projects in Chennai. Besides, the company would also invest around Rs 1,400 crore in setting up logistics parks at 14 locations across the country.
Sanjay G Ubale, managing director and chief executive officer, TRIL, said that the mid-market Chennai residential project being planned would be spread over 10 lakh sft and involve an investment of around Rs 600 crore. A logistics park here at an investment of around Rs 200 crore is also under consideration.
“Chennai will be the first location, where we will set up the park following which we will go to Delhi, Kolkata and Guwathi,” he told reporters. Each of these would involve an investment of around Rs 200 crore.
The company said it would execute projects worth Rs 30,000 crore over the next five years and would need Rs 8,000 crore of equity for these. Projects in the execution stage include the Rs 3,500-crore Ramanjuam IT SEZ here, which will have an IT processing zone, residential and retail units. Its 1st block is expected to be ready by December and the entire project is expected to go on stream by December 2012.
TRIL is developing a retail project at Amristar with an investment of Rs 400 crore, a retail and residential project at Nagpur with an investment of Rs 600 crore, a Rs 800-crore residential project at Kochi. The company is building three projects for its group company, Tata Consultancy Services (TCS), at Pune, Kolkata and another location in Gujarat at an outlay of Rs 3,400 crore. All these projects would be completed in the next two to four years, said Ubale.
Commenting on the infrastructure business, he said, “currently the company has order book of Rs 1,500 crore. The orders were placed by National Highway Department to upgrade Pune-Sholapur.”
Recently, the company received an equity investment of $80 million from Actis, which Ubale said would help the company increase its order book to $2 billion over the next four years.
The company is also betting big on airport, metro and mono rail projects and is planning to bid for Bangalore, Delhi, Mumbai and Ahmedabad projects. “In the airport business, we are bidding for Navi Mumbai project worth $ 2 billion, and are planning to set up greenfield airports at Jamashedpur, Nagpur and Pune,” he said.
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