Latest news with #TataGroup
Time of India
19 hours 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.
Time of India
2 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search ads Search Now Undo 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. Live Events 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.
Hindustan Times
2 days ago
- Business
- Hindustan Times
Tata Digital leases 58,688 sq ft office space in Mumbai's Lower Parel for over ₹12 crore annual rent
Tata Digital has leased 58,668 sq ft of commercial office space in One International Centre, located in Mumbai's Lower Parel area for five years. The annual rent for the space is over ₹12 crore, according to property registration documents accessed by CRE Matrix. Documents show that Tata Digital has leased five units on the 15th, 16th, and 17th floors, spread across three floors. The security deposit for the transaction is over ₹7 crore, and the agreement was registered on March 17, 2025. The office space has been leased for five years, and the lease commencement date is February 1, 2025. The documents show that the rent chargeable period is from July 16, 2025. The starting monthly rent for the office space is ₹1.05 crore, and there is a 5% rent escalation clause on a yearly basis. Documents show that the commercial office spaces and 49 parking spaces have been leased, and the charge for any additional parking is ₹10,000 per month. Also Read: India's top 7 cities record 4% to 8% rental surge in office rents in 2024, global markets show mixed trends: report One International Centre is a prominent commercial office space in Central Mumbai, where several multinational companies have leased commercial office spaces. Tata Digital was established to build and manage the Tata Group's digital consumer ecosystem. It holds majority stakes in several key digital businesses, including BigBasket and 1mg. Also Read: German IT firm Nagarro leases 7 lakh sq ft of office space in Gurugram at a monthly rent of ₹2.90 crore According to a Moneycontrol report, Tata Digital has told employees that it will move its headquarters from South Mumbai (SoBo) in the coming weeks. The company will give up its six-floor office in Fort House in the Fort area and move to One International Centre (OIC) in Lower Parel in Mumbai. The move is expected to be complete by the end of July, the report said. Email queries sent to Nucleus Office Park for One International Centre and Tata Digital did not get any response. The story will be updated if a response is received. Tata Digital was in the news in June 2024 for renewing the lease for its headquarters, Fort House, located in South Mumbai. The monthly rent for the commercial space is ₹2.98 crore, according to the documents accessed by The security deposit paid for the transaction is ₹15.03 crore. According to the documents, the office space comprises ground plus six floors, with Tata Digital taking up space on each floor except 588 sq ft of space on the second floor. Also Read: Tata Digital renews lease for its headquarters in South Mumbai at a monthly rent of ₹3 crore The entire office space is spread across 1.02 lakh sq ft, the document had shown.
Mint
2 days ago
- Business
- Mint
TCS revenue from Tata Group companies nears $1 billion
Tata Consultancy Services Ltd is nearing a billion dollars in annual revenue from its sister companies, a more than three-fold surge since Natarajan Chandrasekaran rose to the helm of the Tata Group's holding company eight years ago. The growing internal business, now representing 3.1% of TCS's total revenue, underscores Chandrasekaran's strategic push to modernize the sprawling conglomerate's digital infrastructure and leverage the IT giant's capabilities across the group. Out of TCS's FY25 revenue of more than ₹2.5 trillion, ₹7,835 crore came from group companies, the company's annual report showed. Eight years back, the figure was ₹2,412 crore. An email sent to TCS on Thursday remained unanswered. Rising revenue from group companies comes amid a broader initiative to foster tighter collaboration among Tata entities, exemplified by mega-deals with Jaguar Land Rover and state-run Bharat Sanchar Nigam Ltd. In 2023, TCS won an 800-million-pound order from Tata Motors' UK subsidiary Jaguar Land Rover to revamp its IT systems. Also read | Tata Sons feels the heat as TCS shrinks dividend for the first time in 20 years 'The JLR contract was a mega deal for TCS and its ramp-up would have caused the group company revenues to increase significantly," said a Mumbai-based analyst on condition of anonymity. A mega deal is a contract that brings more than ₹8,500 crore, or $1 billion in revenue. TCS winning a ₹15,000 crore contract from state-run Bharat Sanchar Nigam Ltd was another example. In August 2023, TCS announced that along with group company Tejas Networks Ltd, which makes wireless networking products for telecom companies, it had won a large contract from BSNL. TCS has also bagged multi-year contracts worth over ₹5,000 crore from its non-bank lender Tata Capital Ltd. The increase in earnings from group companies is primarily due to Chandrasekaran's efforts to make TCS future-ready for many of the group companies. Chandrasekaran, who began his career with TCS, rose through the ranks to become chief executive officer in 2009, before he was elevated as Tata Sons chairman in February 2017. Since then, Chandrasekaran has been nudging senior executives within TCS to collaborate with group companies such as Tata Communications Ltd, and also help modernize their IT infrastructure, an executive familiar with the developments said. He envisioned the 'One Tata' plan in 2017, a strategy to "simplify, synergise, and scale" the group's operations. Read this | The quiet philanthropists: Premji Foundation, Tata Trusts match social spending of top Nifty companies 'I see ample evidence that we are moving ahead on the course we set under the 'One Tata' strategy. We are embarking on a process of simplifying, synergizing and scaling (3S) to create an agile, powerful platform," Chandrasekaran wrote in a New Year message to Tata Group employees in 2019. For now, TCS executives believe business from group companies will only increase. 'Tata Group getting into new businesses like semiconductors and digital business is an opportunity for us (TCS) to work with other group companies," the executive cited above said on the condition of anonymity. Chandrasekaran's letter to shareholders in the TCS annual report also underscored the importance of technology. 'We are witnessing the rise of new paradigms, demanding a thorough reimagination of systems, processes, and technologies to improve visibility, reduce costs, and enhance operational throughput," Chandrasekaran, who is also chair of TCS, wrote in the annual report. 'This reimagination includes designing end-to-end traceability across supply chains; diversification of sourcing strategies to build resilience, and region-specific ecosystems to serve decentralized markets." And read | Tata Sons concludes probe into a top executive. Here's the verdict More money from Tata-owned businesses also comes at a time when the company is looking to boost revenue from its home turf. For two years, India has been the fastest-growing market for TCS, accounting for 8.6% or $2.6 billion in revenue last year. Despite the boost from group companies and homegrown businesses, TCS's growth has slowed: TCS ended the year with $30.18 billion in revenue, representing a 3.78% dollar revenue growth. This was its slowest growth in four years.
Mint
3 days ago
- Business
- Mint
780% rally in 5 years! Anand Rathi sees more upside in this multibagger Tata group stock in 1-3 months. Do you own?
Multibagger Stock: Indian brokerage firm Anand Rathi Investment Services has picked Tata Investment Corporation, as they estimate a 12.3 per cent upside for the Tata Group stocks in the upcoming one to three months' time. According to the brokerage, the company's shares have been consolidating in the broad range for the last five to six months and managed to mark a 'decisive breakout' on Wednesday, 28 May 2025, fueled by strong volumes. 'The daily RSI has confirmed a range shift above the 60 level after a prolonged period, signalling bullish momentum. Additionally, the daily ADX (14) has crossed the 20 mark and is currently near 22, indicating a developing trend — with momentum likely to pick up further as it approaches the 24–25 zone,' said the brokerage firm. Tata Investment Corporation is a non-banking financial company (NBFC) that invests in listed and unlisted equity shares, debt instruments, and mutual funds. Tata Investment Corporation Ltd. (TATAINVEST): Buy at ₹ 6,400 to ₹ 6,500; Target Price at ₹ 7,300; Stop Loss at ₹ 5,990. 'Traders may look to accumulate the stock in the ₹ 6,400 to ₹ 6,500 range, with a stop loss at ₹ 5,990 and an upside target of ₹ 7,300 over the next 1–3 months,' said the analysts at Anand Rathi. Tata Investment Corporation shares closed 1.74 per cent higher at ₹ 6,411.20 after Wednesday's stock market session, compared to ₹ 6,301.65 at the previous market close. The Tata group stock has given stock market investors more than 780 per cent returns in the last five years. However, the shares also lost 1.17 per cent in the last one-year period. On a year-to-date (YTD) basis, the stock is down 5.94 per cent in 2025 but is currently trading 5.29 per cent higher in the last one-month period. According to BSE data, the shares of Tata Investment Corporation hit their 52-week high at ₹ 8,075.90 on 28 August 2024, while the 52-week low was at ₹ 5,147.15 on 17 February 2025. The company's market capitalisation (M-Cap) was at ₹ 32,437.66 crore as of the stock market close on Wednesday, 28 May 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
