Mumbai, Aug 22: Tata Realty and Infrastructure is investing around Rs 2,000 crore each into residential and commercial projects over the next two years, including re-launching the stalled 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, which 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, taking its overall headcount to over 5,000 now. Before the coronavirus 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,” Sanjay Dutt, managing director and chief executive of Tata Realty, told PTI.
Dutt added that the company had the best-ever sales in the fourth quarter of 2020.
