Tata Group targets $500 bln revenue by 2021 - report

Mon Apr 2, 2012 8:41am IST

Ratan Tata, chairman of the Tata Group, speaks during the annual general meeting of Tata Consultancy Services in Mumbai July 1, 2011. REUTERS/Vivek Prakash

Ratan Tata, chairman of the Tata Group, speaks during the annual general meeting of Tata Consultancy Services in Mumbai July 1, 2011.

Credit: Reuters/Vivek Prakash

Related Topics

Stocks

   

REUTERS - Tata Group targets revenues of $500 billion by the financial year ending in March 2021, the Business Standard newspaper reported on Monday, as the steel-to-software conglomerate aims to increase sales five times over nine years.

Ratan Tata, outgoing chairman of the group, which includes flagship companies Tata Consultancy Services Ltd (TCS.NS), Tata Steel Ltd (TISC.NS) and Tata Motors Ltd (TAMO.NS), unveiled the growth plan at a meeting with around 500 senior group executives last month, the newspaper said.

A spokesman for the group declined to comment on the report when contacted by Reuters.

Chairman Tata will step down in December this year, and will be succeeded by Cyrus Mistry, deputy chairman and a former member of the board of holding company Tata Sons.

The 74-year-old has led the conglomerate since 1991 and has embarked on a global shopping spree that has brought companies such as UK tea brand Tetley, European steelmaker Corus and luxury car manufacturer Jaguar Land Rover into the Tata stable.

Around two-thirds of its revenue is generated overseas. The group posted revenues of $83 billion in the financial year ending in March 2011, and is expected to see revenues of $100 billion in the year that ended last month, the newspaper said.

(Reporting by Henry Foy in MUMBAI; Editing by Ranjit Gangadharan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage