Mumbai: Tata Group chairman N Chandrasekaran plans to merge the housing and infrastructure businesses to create a single large unit with revenues of over Rs 3,000 crore.
The businesses are parked under Tata Housing and Tata Realty & Infrastructure, both subsidiaries of Tata Sons, the apex holding company of the conglomerate. This will be the first amalgamation of group companies under Chandrasekaran, who recently completed a year as the conglomerate’s chairman. The last such internal merger happened during Cyrus Mistry’s regime when IT company CMC was combined with TCS in 2015.
The move to merge Tata Housing and Tata Realty is in sync with Chandrasekaran’s strategy to simplify corporate structures, leverage synergies and scale up businesses. The group is in the process to combine multiple private funds managed by Tata Capital as part of Chandrasekaran’s consolidation exercise.