Tata Realty and Infrastructure came up with investing around Rs 2,000 crore each to residential as well as commercial projects all over the time frame of next 2 years. They also plan on re-launching the stalled Mulund project in Mumbai, backing significant growth in sales last year with the steady rise in demand, as a top company official.
The Tata Group firm’s prime focus is residential, commercial and retail properties in the realty space as well as large infrastructure projects. It witnesses increased demand, especially for ready-to-move-in residential units.
Tata Realty and Infrastructure is planning on investing around (each) Rs 2,000 crore into residential and commercial projects over the next two years, encompassing of a re-launch – Mulund project in Mumbai, on the back of a significant growth in sales last year and the steady pick-up in demand, a top company official has said.
“The Tata Group firm, focuses on residential, commercial and retail properties in the realty space and large infrastructure projects, is witnessing higher demand, especially for ready-to-move-in residential units now.” It has added over 1,500 construction workers during the pandemic, that is – 5,000. Post pandemic, it had only 3,500 workers and over 670 employees.
“We had the best sales in 2020-21, with a revenue of over Rs 1,500 crore, which is 120 per cent more than what we had targeted for the year given the pandemic. On an annualised basis, revenue grew 15 per cent over 2019-20; and in volume terms, we sold 1,300 units,” said Sanjay Dutt, managing director and chief executive of Tata Realty