Tata’s to merge the housing & infra business

By Realty Quarter Bureau

The businesses are parked under Tata Housing and Tata Realty & Infrastructure, both subsidiaries of Tata Sons, the apex holding company of the conglomerate

Tata Group chairman N Chadrasekaran has plans to merge the housing & infrastructure business to create a single unit with revenues of over Rs. 3000crore. The subsidiaries of Tata Sons – Tata Housing & Tata Realty & Infrastructure the apex holding company of the giant. The move to merge Tata Housing and Tata Realty is in sync with Chadrasekaran strategy to simplify corporate structures leverage synergies and scale up the business. The group is in process to combine multiple private funds managed by Tata Capital as part of Chandrasekaran consolidation exercise.

The new combined entity will be headed by Sanjay Dutt who is currently with real estate PE major Ascendas-Singbridge. Dutt will join the Tata Group in April and will oversee both the housing and commercial real estate businesses till the merger is completed. Sanjay Ubale, MD & CEO of Tata Realty, will eventually move to the chairman’s office to look after public affairs. In the interim, Ubale will head the longer cycle business of infrastructure such as roads and highway projects.