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

REUTERS SHOWCASE

Economic Pulse

Economic Pulse

New govt promises low and stable tax regime for economic revival.  Full Article 

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Market Eye

Market Eye

Nifty retreats from record highs on profit taking.  Full Article 

Waning Enthusiasm

Waning Enthusiasm

Markets' post-election enthusiasm lost on consumers.  Full Article 

Banking Sector

Banking Sector

Banks not allowed to trade in bonds for infra lending - RBI.  Full Article 

Gold Imports

Gold Imports

Govt has no proposal to reduce gold import duty.  Full Article 

Reuters India Mobile

Reuters India Mobile

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