Latest news with #TataDigital
Time of India
3 days ago
- Business
- Time of India
Tata to fuel new ventures engine with ₹30,000 crore more, to hire new digital CEO soon
Mumbai: Tata Sons is injecting fresh capital of ₹30,000 crore ($3.5 billion) into its emerging ventures, including Tata Digital , Tata Electronics and Air India , as well as the defence and battery units. The investment will be through equity infusion, said people familiar with the matter. The defence business has recently been reaffirmed as a strategic priority, according to officials. The Tata Sons board approved the latest allocation at a meeting held on Thursday, said the people cited. This funding will be in addition to the $120 billion committed to new businesses in recent years. "The capital infusion is considered part of the holding company's plan to meet requirements at the execution level, necessary to scale the new businesses for their next phase of growth," said a group executive. Announcement of New Tata Digital CEO Soon 'A sizeable commitment has already been made by Tata Sons. Now, all further investments will be done on a priority basis and new businesses will have to earn the right to seek such investments,' the executive said. These businesses are big focus areas and Tata Sons is of the view that their gestation period is over, and it's time for them to prioritise execution and deliver profitable growth. It's seen as a strategic effort to maintain the group's long-term competitive edge in a rapidly changing global business landscape, amid disruptions driven by artificial intelligence (AI) and other emerging technologies. Tata Electronics and Tata Digital already figure in the top 10 group businesses. 'The goal for the new businesses is to rank among the top five group companies by revenue and attain profitability by FY27. Group chairman (N Chandrasekaran) is now keeping close track of the progress of the new businesses,' an executive said. The holding company will also soon announce a new chief executive for Tata Digital, which has faced challenges, including the recent exit of Naveen Tahilyani as CEO within a year of taking the top job. In a move to sharpen his focus on these priorities, Chandrasekaran recently stepped down from the board of Tata Chemicals. Chandrasekaran, 62, took charge as Tata Sons chairman in February 2017 and got another five-year term at the helm in 2022. How It's Faring After strong gains during 2020-24, Tata Group companies hit speed breakers in FY25. Revenue growth slowed to 4.9%, down from 12% in FY24. Net profit rose 10.7%, a sharp slump from the 28% surge the year before. Operating margins held steady at 10%, compared with 11% in FY24. Some of the businesses have been cyclical, apart from the uncertain geopolitical situation and economic challenges impacting growth, said people with knowledge of the matter. While group debt declined 6% to Rs 3 lakh crore in FY25, over half the companies still posted double-digit topline growth, signalling underlying resilience. Tata Consultancy Services (TCS) remained the group profit engine. It contributed 51% of group net profit, though down from 54%. Despite operational stability, investor sentiment was less positive. The group lost nearly 8% of its market capitalisation in FY25, after a 45% gain in FY24. The latest infusion is being routed through equity since Tata Sons voluntarily surrendered its certificate of registration with the Reserve Bank of India (RBI) last year and repaid more than Rs 20,000 crore in debt to remain unlisted.
India.com
3 days ago
- Business
- India.com
Noel Tata's BIG plan, will inject Rs 300000000000 in…, will soon hire…
Tata Sons is set to infuse Rs 30,000 crore ($3.5 billion) in fresh capital into its growing ventures like Tata Digital, Tata Electronics, Air India, and also in its defence and battery businesses. The investment will be done through equity infusion, according to the Economic Times report. It will lead their next phase of growth. This investment is approved by the board, as an addition to the earlier plan of $120 billion. 'The capital infusion is considered part of the holding company's plan to meet requirements at the execution level, necessary to scale the new businesses for their next phase of growth,' said a group executive to Economic Times The report also claimed that the announcement of New Tata Digital CEO will be made by the company soon. These businesses are part of big sectors. Tata Electronics and Tata Digital already figure in the top 10 group businesses. Tata Sons thinks that their gestation period is now over, and now they need to focus on execution and profitable growth. Group chairman (N Chandrasekaran) is now keeping close track of the progress of the new businesses as reported by ET. Tata Digital faced challenges after the exit of Naveen Tahilyani as CEO within a year of him taking the top job. So now Tata Sons will soon announce a new chief executive for this company. In a move to sharpen his focus on these priorities, Chandrasekaran recently stepped down from the board of Tata Chemicals. Chandrasekaran, 62, took charge as Tata Sons chairman in February 2017 and got another five-year term at the helm in 2022. In a similar move, Tata Sons Chairman N Chandrasekaran stepped down as chairman and director of Tata Chemicals on May 29, a regulatory filing said. The board of directors have appointed S Padmanabhan, Director of the Company, as the Chairman of the Board with effect from May 30, 2025. Besides, based on the recommendations of the Nomination and Remuneration Committee, the board appointed Modan Saha as an Additional Director (Non-Executive, Non-Independent) with effect from May 28, 2025. (With inputs from PTI)
Time of India
3 days ago
- Business
- Time of India
Tata to fuel new ventures engine with ₹30,000 crore more, to hire new digital CEO soon
Announcement of New Tata Digital CEO Soon ADVERTISEMENT ADVERTISEMENT How It's Faring ADVERTISEMENT Mumbai: Tata Sons is injecting fresh capital of ₹30,000 crore ($3.5 billion) into its emerging ventures, including Tata Digital Tata Electronics and Air India , as well as the defence and battery units. The investment will be through equity infusion, said people familiar with the defence business has recently been reaffirmed as a strategic priority, according to officials. The Tata Sons board approved the latest allocation at a meeting held on Thursday, said the people cited. This funding will be in addition to the $120 billion committed to new businesses in recent years."The capital infusion is considered part of the holding company's plan to meet requirements at the execution level, necessary to scale the new businesses for their next phase of growth," said a group executive.'A sizeable commitment has already been made by Tata Sons. Now, all further investments will be done on a priority basis and new businesses will have to earn the right to seek such investments,' the executive businesses are big focus areas and Tata Sons is of the view that their gestation period is over, and it's time for them to prioritise execution and deliver profitable seen as a strategic effort to maintain the group's long-term competitive edge in a rapidly changing global business landscape, amid disruptions driven by artificial intelligence (AI) and other emerging Electronics and Tata Digital already figure in the top 10 group businesses.'The goal for the new businesses is to rank among the top five group companies by revenue and attain profitability by FY27. Group chairman (N Chandrasekaran) is now keeping close track of the progress of the new businesses,' an executive holding company will also soon announce a new chief executive for Tata Digital, which has faced challenges, including the recent exit of Naveen Tahilyani as CEO within a year of taking the top a move to sharpen his focus on these priorities, Chandrasekaran recently stepped down from the board of Tata Chemicals. Chandrasekaran, 62, took charge as Tata Sons chairman in February 2017 and got another five-year term at the helm in strong gains during 2020-24, Tata Group companies hit speed breakers in growth slowed to 4.9%, down from 12% in FY24. Net profit rose 10.7%, a sharp slump from the 28% surge the year before. Operating margins held steady at 10%, compared with 11% in of the businesses have been cyclical, apart from the uncertain geopolitical situation and economic challenges impacting growth, said people with knowledge of the group debt declined 6% to Rs 3 lakh crore in FY25, over half the companies still posted double-digit topline growth, signalling underlying resilience. Tata Consultancy Services (TCS) remained the group profit engine. It contributed 51% of group net profit, though down from 54%.Despite operational stability, investor sentiment was less positive. The group lost nearly 8% of its market capitalisation in FY25, after a 45% gain in latest infusion is being routed through equity since Tata Sons voluntarily surrendered its certificate of registration with the Reserve Bank of India (RBI) last year and repaid more than Rs 20,000 crore in debt to remain unlisted.
Time of India
5 days ago
- Business
- Time of India
Tata Digital leases 59,000 sq ft office space in Mumbai's Lower Parel
Tata Group 's digital business entity Tata Digital has leased nearly 59,000 sq ft office across three floors of a commercial tower in Mumbai 's Lower Parel for a five-year term. The company will be paying monthly rentals of Rs 1.05 crore and common area maintenance (CAM) charges of Rs 12.32 lakh, translating to a blended outgo of around Rs 1.18 crore per month. The agreement includes a clause to escalate rentals by 5% every year. Tata Digital is entitled to a rent-free period from February 1 to July 15, 2025, with the license fee becoming payable from July 16, showed the documents accessed through CRE Matrix. The deal covers units across 15th, 16th, and 17th floors of one of the towers of One International Centre . The transaction was registered on March 17 and the lease commencement date is February 1. The tenant has paid a security deposit of Rs 7.07 crore for the transaction. The deal also includes the provision of 49 car parks, with additional slots charged at Rs 10,000 per month each. ET's email query to Tata Digital and the property owner Nucleus Office Parks remained unanswered until the time of going to press. India's office leasing activity has remained resilient in 2025, driven by strong demand from global capability centers (GCCs), In line with this, the country's top business districts are witnessing a steady and sustained rise in demand for front offices.
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
Tata Digital inks Rs 1 cr/month office lease deal in Mumbai's Lower Parel
In one of the largest office lease deals in Mumbai, Tata Digital has signed a licensing agreement with One International Center for a premium office space in Lower Parel with a monthly rent of Rs 1.05 crore. The agreement, registered on March 17, covers a total chargeable area of 58,668 sq. ft. spread across the 15th, 16th, and 17th floors of Tower 1 at One International Centre, Lower Parel, Mumbai, as per the lease deal accessed by CRE Matrix - a real estate data analytics firm. The starting monthly rent for the Grade-A commercial space is Rs 1,05,60,235, translating to a rate of Rs 180 per sq. ft, noted CRE Matrix. Tata Digital has provided a security deposit of Rs 7.07 crore, as part of the 5-year (60-month) lease agreement. The license period officially begins on February 1, 2025, with rent obligations commencing from July 16, 2025—indicating a rent-free fit-out period of approximately five and a half months. The leased premises come with 49 dedicated car parking slots. Here are the deal details: License Period:- 60 Months License Commencement Date:- 1st Feb 2025 License Fee Commencement Date:- 16th July 2025 Rent Free Period:- From 1st Feb 2025 to 15th July 2025 Rent Escalation:- 5% every year CAM Charges:- ₹ 21 per sq. ft. per month (constant throughout the term) Additional Car Park Charges:- 10,000 per park per month The lease was executed with One International Centre Pvt Ltd on March 17, 2025, and includes a monthly rent of Rs 1.05 crore and a security deposit of ₹7.07 crore, translating into an estimated total lease value of over Rs 635 crore over five years. In February 2025, Protean eGov Technologies leased a 68,021 sq ft office space at One International Center too. The five-year lease, facilitated by Colliers India, is priced at Rs 185 per sq ft per month, amounting to approximately Rs 1.26 crore in monthly rent. This new office will accommodate over 600 employees and support the company's expansion in digital public infrastructure.
