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

Press Event

Press Event

Modi takes tea, but no questions, in first press event as PM.  Full Article 

Monetary Policy

Monetary Policy

Finance Minister Arun Jaitley favours interest rate cut - paper  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Reuters Poll

Reuters Poll

India's growth pace to pick up as reforms draw investment   Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

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