Tata Realty earmarks Rs 20K cr for dev projects

Tata Realty and Infrastructure Ltd (TRIL) is planning to pump in around Rs 20,000 crore over the next three years on various development projects across the country.

Sanjay G Ubale, managing director and CEO of TRIL, 55% of the investment will be on realty projects and the remaining will be on infrastructure and other projects. “Around Rs 11,000 crore has been earmarked for realty projects and Rs 5,000 crore will be towards infrastructure. The remaining Rs 4,000 crore will be invested in other development projects,” said Ubale.

The focus will be on roads and bridges, airports, logistic parks and special economic zones (SEZs). TRIL is already developing an SEZ at Gopalpur in Orissa in association with Tata Steel.

TRIL’s wholly-owned subsidiary Navinya Buildcon and partner Atlantia SpA of Italy, have been awarded the project to develop a four-lane divided carriageway along the Pune-Solapur highway and a two-way service road for local traffic.

The project has been awarded for a concession period of 21 years, including two-and-half years of construction period. The estimated cost of the project is Rs 1,400 crore approximately.

Among TRIL’s ongoing projects is a Rs 3,800-crore SEZ at Taramani in Chennai. The SEZ is for the IT/ITES sector and is spread across 25 acres.

TRIL is also developing two other IT SEZs — in Ahmedabad and Pune — for its group company Tata Consultancy Services for Rs 1,660 crore.

The company is also working on a Rs 550 crore retail development project in Amritsar, which is spread over 5.54 acres.