Friday, August 06, 2010

Tata Realty targets Rs 30,000 crore projects by 2015

CHENNAI: Tata Realty and Infrastructure Ltd (TRIL) is targeting an order book of Rs 30,000 crore by 2015, building logistics parks, roads, airports, rapid transport systems, a top company official said Thurs day. A wholly owned subsidiary of Tata Sons, the Rs 900-crore equity-based TRIL is currently executing around Rs 8,000 crore worth of realty projects. "We will soon start developmental work for logistics parks in Chennai, Kolkata and Delhi out of the 14 locations identified. Each of the three parks will measure around 25 acres and the total project outlay will be around Rs 200 crore," managing director Sanjay G Ubale told reporteRs in Chennai. He said TRIL would also set up a logistics park at Guwahati and soon announce the foreign partner who would bring in the technology. The company has budgeted Rs 1,400 crore for building 14 logistics parks with some cities having multiple parks. TRIL is now executing the Pune-Sholapur road project with an outlay of Rs 1,500 crore. It has floated a subsidiary to execute road projects investing $122.5 million and private equity firm Actis putting in $77.5 million. "Our target is to do $2 billion worth of road projects in four yeaRs time frame," said Ubale. Planning to bid for two greenfield airport projects at Nagpur and Pune, he said the company will be building a private airport at steel city Jamshedpur. In the area of urban transportation, TRIL is in the process finalising the joint venture partner for mono rail business and would start bidding for projects in Bangalore, Delhi, Mumbai and Ahmedabad, Ubale said. Seeing the rush from corporates to set up units in SEZs before Dec 2011, TRIL has tweaked its strategy to lease out space to multiple companies at its upcoming Ramanujam IT SEZ here, instead of leasing out to a single player. "It is a derisking strategy. As and when a company wants to expand we would provide the needed space. The probability of some tenants expanding operations is higher when their number is higher than hoping on couple of big tenants to expand," he said. According to him, the Rs 3500-crore, 4.5 million square feet project will be completed in three phases. The fiRs t phase of 700,000 sq ft will be ready by this December and by next March another facility of similar size will be completed. The project consists of IT SEZ, high end residential apartments and serviced apartments, convention centre and retail complex. Ubale said the company will soon announce another residential apartment project in Chennai involving an outlay of Rs 600 crore. The company is also building three SEZs for group company Tata Consultancy Services in Gujarat, Maharashtra and Kolkata.

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