Moneycontrol
Get App
Last Updated : Apr 23, 2015 10:24 PM IST | Source: Moneycontrol.com

Tata Projects ties up with Brookfield for social infra biz

Tata Group's infrastructure arm Tata Projects wants a bigger footprint for its one-year old social infrastructure vertical. So it has joined hands with global construction major Brookfield Multiplex to build commercial, retail and healthcare projects in India, report CNBC-TV18's Prerna Baruah and Kritika Saxena.


Tata Group's infrastructure arm Tata Projects wants a bigger footprint for its one-year old social infrastructure vertical. So it has joined hands with global construction major Brookfield Multiplex to build commercial, retail and healthcare projects in India, report CNBC-TV18's Prerna Baruah and Kritika Saxena.


The pure-play engineering, procurement & construction subsidiary of the Tata group is hungry for more growth, presence and revenues. Specifically, it wants a larger piece of the social infrastructure segment, which it ventured into just a year ago. In this, it will now get help from Australian construction company Brookfield Multiplex.


Says Vinayak Deshpande, MD, Tata Projects: "We have come together to address opportunities in social infra space. We will focus on commercial, residential, healthcare projects and have already close to four-five projects. We believe the market is growing and will engage more into this market."

Close

This engagement will strengthen Tata Projects' presence in India's social infrastructure segment, which is currently restricted to four cities: New Delhi, Bangalore, Kolkata and Mumbai. It will also mean faster execution of high rise buildings with world class design.


So skylines in these cities, and a few more, may be in for quite a bit of change as new projects get going. But Tata Projects says the revenue sharing formula with Brookfield will be worked out on a case-by-case basis.


The company may not be bandying about financial details just yet, but it has said that since its social infrastructure business started a year ago, it has added a good Rs 2,000 crore, taking the overall order book to Rs 14,000 crore.

Tata is also exploring how its new Australian partner can help it strengthen its position in its key vertical of industrial infrastructure.

First Published on Apr 23, 2015 10:24 pm
Sections
Follow us on