Tata Realty and Infrastructure, a wholly-owned subsidiary of Tata Sons, will raise $750 million (Rs 3,000 crore) to fund realty and infrastructure projects. | |
| The fund, which is expected to attract investment from insurance companies, pension funds, government entities and endowment funds, is expected to close in a fortnight. |
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| Dinesh Chandiok, managing director, Tata Realty and Infrastructure, said, "Tata Sons holds huge real estate properties from which we can unlock the intrinsic wealth by developing them." |
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| Among these projects are information technology parks. The company is already focusing on projects such as airports, roads, bridges and special economic zones. |
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| A majority of the funds will be utilised for its realty ventures with the balance for infrastructure projects. |
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| The company is aiming for a pan-India presence within the next few years. Nearly all major Tata companies, Tata Consultancy Services, Voltas, Tata Motors, Tata Tea and Rallis India have surplus land that can be developed. |
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| The Tata Group has been involved in real estate through Tata Housing Development Corporation which has undertaken several residential projects in Mumbai, Pune, Goa and Bangalore. |
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