After Wistron, Tata Group eyeing Pegatron’s iPhone plant in India, claims report
The company plans to operate the JV via its Tata Electronics unit, the report claimed.
Taking ahead its agenda of reviewing and integrating its varied business verticals, Tata Sons has revamped its reality and infrastructure businesses to simplify the operational structure, leverage synergies and achieve scale rapidly.
In a statement, Tata Sons on Thursday announced an operational reorganisation of Tata Realty and Tata Housing, wherein Sanjay Ubale, the current managing director and chief executive of Tata Realty will head the infrastructure development and concessions business, while Sanjay Dutt has been roped into oversea the real estate vertical.
Ubale has been appointed as head of infrastructure and urban solutions, and will report to Banmali Agrawala, president of infrastructure, aerospace and defence verticals.
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In addition, Ubale will also work closely with group chairman N Chandrasekaran on state-related policy matters, the release said.
Under the new scheme, the group’s realty business will now include commercial real estate and housing businesses and will be run as a joint business.
Dutt, who currently heads the India operations and private funds of Ascendas-Singbridge, has been roped in as the new managing director of Tata Realty & Infrastructure and will also oversee the operations of Tata Housing Development Company.
Dutt will take charge from April 1.
On February 7, Brotin Banerjee, who has been the managing director and chief executive at Tata Housing for long, had quit the company citing personal reasons.
“The real estate and infrastructure businesses will both continue to grow given the needs of a fast-growing economy, and the Tata Group has the resources, skills and scale to make a significant impact,” Chandrasekaran was quoted as saying in the statement.
Tata Housing currently has a portfolio of 70 million sqft of housing projects under various stages of development and another 19 million sqft in the pipeline, while Tata Realty is engaged in urban transport, roadways, and special economic zones.
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