Latest news with #NoelTata
Indian Express
6 days ago
- Business
- Indian Express
Tata Sons sets up RS 500 crore AI-171 Memorial Trust for Air India crash victims
Tata Sons has formally set up a public charitable trust — The AI-171 Memorial and Welfare Trust — to support the victims and families affected by the tragic Air India AI-171 Dreamliner crash in Ahmedabad. The group has pledged a total of Rs 500 crore towards the trust, with Tata Sons and Tata Trusts, headed by Noel Tata, contributing Rs 250 crore each. The trust will provide financial and rehabilitation support, including a Rs 1 crore ex-gratia payment to the families of the deceased, medical assistance to those seriously injured, and aid for rebuilding the B.J. Medical College hostel, which was damaged during the crash. The horrific incident, which occurred on June 12, claimed the lives of 241 out of the 242 passengers on board, as well as several individuals on the ground. 'The Trust will be funded and will commence its work in all earnestness after necessary registration with the tax authorities and other operational formalities, currently underway, are completed,' it said in a statement. The Trust will provide both immediate and continuing support to the dependents/next-of-kin of the deceased, to those who were injured, and to all others who are directly or collaterally affected by the accident. Importantly, the trust will also extend support to first responders, medical teams, disaster relief workers, and government personnel who played key roles in the rescue and recovery operations following the crash. This includes assistance to address trauma, mental health challenges, and other distress these individuals may have experienced in the course of their service. The AI-171 Trust has been formally registered in Mumbai and will be governed by a five-member board. The first two trustees named are S. Padmanabhan, a long-serving Tata Group veteran, and Sidharth Sharma, General Counsel at Tata Sons. The remaining trustees will be appointed shortly. Commenting shortly after the tragedy, Tata Sons Chairman N. Chandrasekaran, who also chairs Air India, had spoken of the need for long-term care beyond financial help. 'There are structures we want to put in place. One of the things we've been thinking about is creating a trust — something sustainable that can support affected families,' he said. Meanwhile, Air India CEO Campbell Wilson has stated that the preliminary findings into the AI-171 crash have opened up more questions than answers, indicating that the investigation remains ongoing and complex. The AI-171 Trust represents a significant and compassionate effort by the Tata Group to support recovery and rebuild lives after one of India's worst aviation disasters.
India.com
6 days ago
- Business
- India.com
Good news for Noel Tata, this Ratan Tata company earns Rs 2960000000, shares jumps by 880% in…
Noel Tata (File) Tata Group-owned Indian Hotels Company Limited (IHCL) reported a 26.56% year-on-year increase in consolidated net profit, reaching Rs 329.32 crore for the first quarter of FY26. In the same quarter last year, the company had posted a net profit of Rs 260.19 crore. Revenue from operations rose to Rs 2,102.17 crore during the April–June quarter, up from Rs 1,596.27 crore in the corresponding period of the previous fiscal. Indian Hotels Q1 FY26 Results The company's total expenses also increased to Rs 1,662.35 crore, from Rs 1,267.78 crore a year ago, a regulatory filing showed. 'Q1 FY2026 marks the thirteenth consecutive quarter of record performance. In line with our guidance, the company reported a double-digit growth in consolidated revenue,' Puneet Chhatwal, Managing Director and Chief Executive Officer of IHCL, said in a statement. Revenue from the hotel segment grew by 14 per cent to Rs 1,814 crore, leading to a strong EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin of 31.4 per cent, the statement said. 'This performance was enabled by diversification of our top line across same-store hotels, not like-for-like growth and New Businesses consolidated revenue growing by 27 per cent over the previous year. The hospitality sector, despite geopolitical headwinds, continues to show resilience and sustained growth,' Chhatwal said. Further, he said IHCL continued its growth momentum with 12 signings, taking the portfolio to over 390 hotels and opened six new hotels in the quarter under review. He said IHCL continued its growth momentum with 12 signings, taking the portfolio to over 390 hotels, and opened 6 new hotels in the quarter. Indian Hotels Share Price Performance Shares of Indian Hotels, a Tata Group hospitality company, have jumped 880% over the past five years. On July 17, 2020, the company's stock was trading at Rs 76.99 on the NSE. As of July 17, 2025, it closed at Rs 755.10. Over the last four years, the stock has gained 409%, while in the past three years, it has risen by 201%. In the last two years alone, Indian Hotels shares have seen a rally of around 92%. (With Inputs From PTI)
Time of India
10-07-2025
- Business
- Time of India
Tata Sons Chief Briefs Trusts Board Directly
Tata Sons chairman N Chandrasekaran briefed the board of Tata Trusts about the conglomerate's performance and plans in a closed-door meeting at Bombay House on Tuesday, in what long-time group watchers said was a notable departure from precedent. Present at the meeting were Noel Tata, Mehli Mistry, Venu Srinivasan, Pramit Jhaveri, Darius Khambata, Vijay Singh and Jehangir C Jehangir. The move to update the entire board of trustees had been initiated by the chairman, people aware of the matter said. According to group insiders, a Tata Sons chairman never directly briefed the Trusts board during the tenure of late group patriarch Ratan Tata — it's a first. Traditionally, trust nominees on board of Tata Sons apprise the board of Tata Trusts on key developments and areas. The Trusts own a controlling 66% in the group holding company. They comprise philanthropies endowed by members of the founding family. Nominees of Tata Trusts on the board of Tata Sons include Noel Tata, Srinivasan and Singh. Noel Tata is also chairman of Tata Trusts. The update covered progress in the group's high-stakes bets across semiconductors, electric mobility, the consumer app ecosystem and Air India, said the people cited. Tata has committed over Rs 1.84 lakh crore in these segments in recent years. It also included the group's response to the June 12 Air India crash incident in Ahmedabad, with details about regulatory compliance and relief measures provided to members. People aware of the matter said the two-hour discussion covered all group businesses and plans. Chandrasekaran spoke to the trustees about the progress made in units such as Tata Digital, Tata Electronics and Air India in terms of business revenue, challenges, profits and valuations. Insiders said Tata Sons may be pushing to make communication with its largest shareholder on its ambitious strategy to make the group future-ready as transparent as possible. 'The capital allocation done by the holding company in new businesses has been the largest in its history,' an official pointed out. Tata Sons did not comment. 'The direct update to Trusts is a first that way for Tata Sons. The intention was to ensure all the trustees are fully apprised of Tata Sons' position and forward strategy,' said one of the persons cited. 'A significant time was also spent in discussing the help and support offered to Air India crash victims, updates on ongoing investigations and fleet safety aspects.' Chandrasekaran elaborated on the status of Air India's compensation disbursements and assistance to passengers as well as compliance with regulatory protocols by the airline, which was acquired by Tata group in 2022 in a privatisation exercise. While Tata Trusts does not play an operational role in day-to-day business affairs, the chairman's presentation is seen as significant in keeping the trusts aligned with group-level strategic priorities, especially in areas of capital allocation and social responsibility, insiders said.
Economic Times
10-07-2025
- Business
- Economic Times
Tata Sons chairman N Chandrasekaran briefs Trusts board directly on business performance, upcoming plans
Mumbai: Tata Sons chairman N Chandrasekaran briefed the board of Tata Trusts about the conglomerate's performance and plans in a closed-door meeting at Bombay House on Tuesday, in what long-time group watchers said was a notable departure from precedent. Present at the meeting were Noel Tata, Mehli Mistry, Venu Srinivasan, Pramit Jhaveri, Darius Khambata, Vijay Singh and Jehangir C Jehangir. The move to update the entire board of trustees had been initiated by the chairman, people aware of the matter said. According to group insiders, a Tata Sons chairman never directly briefed the Trusts board during the tenure of late group patriarch Ratan Tata — it's a first. Traditionally, trust nominees on board of Tata Sons apprise the board of Tata Trusts on key developments and Trusts own a controlling 66% in the group holding company.00:19 -They comprise philanthropies endowed by members of the founding family. Nominees of Tata Trusts on the board of Tata Sons include Noel Tata, Srinivasan and Singh. Noel Tata is also chairman of Tata Trusts. The update covered progress in the group's high-stakes bets across semiconductors, electric mobility, the consumer app ecosystem and Air India, said the people cited. Tata has committed over Rs 1.84 lakh crore in these segments in recent years. It also included the group's response to the June 12 Air India crash incident in Ahmedabad, with details about regulatory compliance and relief measures provided to aware of the matter said the two-hour discussion covered all group businesses and spoke to the trustees about the progress made in units such as Tata Digital, Tata Electronics and Air India in terms of business revenue, challenges, profits and said Tata Sons may be pushing to make communication with its largest shareholder on its ambitious strategy to make the group future-ready as transparent as possible. 'The capital allocation done by the holding company in new businesses has been the largest in its history,' an official pointed Sons did not comment.'The direct update to Trusts is a first that way for Tata Sons. The intention was to ensure all the trustees are fully apprised of Tata Sons' position and forward strategy,' said one of the persons cited. 'A significant time was also spent in discussing the help and support offered to Air India crash victims, updates on ongoing investigations and fleet safety aspects.' Chandrasekaran elaborated on the status of Air India's compensation disbursements and assistance to passengers as well as compliance with regulatory protocols by the airline, which was acquired by Tata group in 2022 in a privatisation exercise. While Tata Trusts does not play an operational role in day-to-day business affairs, the chairman's presentation is seen as significant in keeping the trusts aligned with group-level strategic priorities, especially in areas of capital allocation and social responsibility, insiders said.'The open discussion helps open communication of group plans, priorities and expectations between Tata Sons and the Trusts,' said a highly placed Sons is injecting fresh capital of ?30,000 crore into its emerging ventures, including Tata Digital, Tata Electronics and Air India, as well as the defence and battery units. This funding will be in addition to the $120 billion already committed to the new businesses in recent years.
Time of India
10-07-2025
- Business
- Time of India
Tata Sons chairman N Chandrasekaran briefs Trusts board directly on business performance, upcoming plans
In an unprecedented move, Tata Sons Chairman N Chandrasekaran briefed the Tata Trusts board on the conglomerate's performance and future strategies, a departure from the tradition established during Ratan Tata's tenure. The update included progress in key sectors like semiconductors, electric mobility, and Air India, along with details on the Ahmedabad crash response. Tired of too many ads? Remove Ads Ensuring Transparency Tired of too many ads? Remove Ads Ahmedabad Crash Tired of too many ads? Remove Ads Mumbai: Tata Sons chairman N Chandrasekaran briefed the board of Tata Trusts about the conglomerate's performance and plans in a closed-door meeting at Bombay House on Tuesday, in what long-time group watchers said was a notable departure from at the meeting were Noel Tata , Mehli Mistry, Venu Srinivasan, Pramit Jhaveri, Darius Khambata, Vijay Singh and Jehangir C Jehangir. The move to update the entire board of trustees had been initiated by the chairman, people aware of the matter to group insiders, a Tata Sons chairman never directly briefed the Trusts board during the tenure of late group patriarch Ratan Tata — it's a first. Traditionally, trust nominees on board of Tata Sons apprise the board of Tata Trusts on key developments and Trusts own a controlling 66% in the group holding company.00:19 -They comprise philanthropies endowed by members of the founding family. Nominees of Tata Trusts on the board of Tata Sons include Noel Tata, Srinivasan and Singh. Noel Tata is also chairman of Tata update covered progress in the group's high-stakes bets across semiconductors, electric mobility, the consumer app ecosystem and Air India , said the people cited. Tata has committed over Rs 1.84 lakh crore in these segments in recent also included the group's response to the June 12 Air India crash incident in Ahmedabad, with details about regulatory compliance and relief measures provided to aware of the matter said the two-hour discussion covered all group businesses and spoke to the trustees about the progress made in units such as Tata Digital, Tata Electronics and Air India in terms of business revenue, challenges, profits and said Tata Sons may be pushing to make communication with its largest shareholder on its ambitious strategy to make the group future-ready as transparent as possible. 'The capital allocation done by the holding company in new businesses has been the largest in its history,' an official pointed Sons did not comment.'The direct update to Trusts is a first that way for Tata Sons. The intention was to ensure all the trustees are fully apprised of Tata Sons' position and forward strategy,' said one of the persons cited. 'A significant time was also spent in discussing the help and support offered to Air India crash victims, updates on ongoing investigations and fleet safety aspects.'Chandrasekaran elaborated on the status of Air India's compensation disbursements and assistance to passengers as well as compliance with regulatory protocols by the airline, which was acquired by Tata group in 2022 in a privatisation Tata Trusts does not play an operational role in day-to-day business affairs, the chairman's presentation is seen as significant in keeping the trusts aligned with group-level strategic priorities, especially in areas of capital allocation and social responsibility, insiders said.'The open discussion helps open communication of group plans, priorities and expectations between Tata Sons and the Trusts,' said a highly placed Sons is injecting fresh capital of ?30,000 crore into its emerging ventures, including Tata Digital, Tata Electronics and Air India, as well as the defence and battery units. This funding will be in addition to the $120 billion already committed to the new businesses in recent years.
