Tata group forays into Saarc region
Tata Housing, the real estate arm of the Tata Group, is foraying into two Saarc countries with high-end residential projects by March this year.business Updated: Jan 19, 2011 22:29 IST
Tata Housing, the real estate arm of the Tata Group, is foraying into two Saarc countries with high-end residential projects by March this year.
The company expects to earn revenues worth Rs 2,500 crore from the projects, a person close to the development told HT.
“We are in final stages of launching these five projects in two countries in South East Asia. By the end of the year we expect these projects to add around Rs 2,500 crore to our topline.”
Tata Housing CEO Brotin Banerjee declined to comment.
Tata Housing is partnering with one company that has presence in two countries where the projects will be launched.
HT could not confirm the name of the firm or the countries where the projects are to be launched. However, according to rumours, the two projects are set to come up in Maldives and Sri Lanka.
Tata Housing has still not signed any agreement but is expected to sign the same by month-end, sources said. All the five projects will be targeted towards high-end buyers.