Betting on sustainability and electronics, Tata Projects, the engineering, procurement and construction (EPC) company of Tata group, is looking at double digit growth in the current financial year.
The company turned into profits last year at Rs 139 crore on revenues of Rs 17,247 crore in FY24.
Also ReadHAL posts Q2 profit growth of 22.14% at Rs 1510.49 crore, shares rises 3%
“We have clocked revenues of $2 billion (over Rs 16,800 crore) this year. Our bottom-line growth will be higher than topline growth this year,” said Vinayak Pai, managing director and CEO, Tata Projects, in an interaction with media persons in Mumbai on Thursday.
Also Read Odisha eyes tourism boom: Deputy CM unveils plans for adventure, heritage and ecotourism in state Mahindra Lifespaces enters joint development for 37 acre land in Mumbai No expansion can take place unless steel prices recover: Tata Steel MD NBFC Northern Arc announces maiden climate fund; secures $65 million in debt commitment
Its rival L&T is expecting a growth of 15% in revenues in FY25.
Pai said advanced engineering, sustainability, and mobility are the key pillars of growth for the company. About 40% of revenue comes from the sustainability sector, which includes green hydrogen, green ammonia, metros, and so on. Around 10 to 15% revenue comes from electronics and semi conductors. The company has an order book of Rs 40,000 crore.
“We have strong visibility of growth in electronics and semiconductors. Thus, we are having good balance between manufacturing and services,” he said. Tata Projects is building a semi-conductor facility for Tata Electronics in Dolera, Gujarat and a battery manufacturing unit in the same state.
Pai added that green hydrogen, green ammonia and pumped storage projects are big components of growth for the company.
Also ReadSpiceJet settles a $90.8 million EDC dispute saving $68.3 million; gets ownership of 13 Q400 aircraft
He said the firm’s share of government orders have come down from 80% to 50% now and could drop further. “Metro projects and airports are more predictable and linear,” he said, adding they are doing metro projects in Pune, Chennai, Indore, and so on.
The company will keep share of overseas orders at 10 to 15%, he said.
» Read More
