From Parliament to Ram Temple – Tata Group laying the building blocks for key projects

From Shri Ram Mandir to the temple of democracy, the Tata Group has left no stone unturned when it comes to constructing key structures of modern India. The oldest conglomerate in the country with over 150 years of existence has excelled in many fields. The two companies from the stable that shot to fame recently are Tata Projects and Tata Consulting Engineers (TCE).

Tata Projects, which is involved in engineering, procurement, and construction businesses had outbid Larsen & Toubro (L&T) in September 2020 to win the new Parliament building project. The company had won the contract to build the new Parliament building for ₹861.90 crore against L&T’s bid of ₹865 crore.

Months after the inauguration, the new Parliament building, built by Tata Projects also won ENR's Global Best Projects Awards 2023. "This achievement underscores our commitment to predictable project delivery through innovation and technology.

We are grateful to our esteemed customers, our valued partners, and our phenomenal team whose tireless efforts made this iconic project a reality. This award is a source of immense inspiration for us as we continue to strive for excellence and build projects that make a positive global impact," said Vinayak Pai, MD and CEO of Tata Projects.

During the fiscal year 2023, Tata Project reported a 24% growth in revenues from operations to ₹16,948 crore. Further, the company which has more than 220 ongoing projects has an order backlog of over Rs 48,000 crore. However, the company reported a net loss of ₹856 crore in FY23.

Tata Project has so far completed over 30 construction projects across India, including marquee projects such as the new Parliament building in New Delhi, Tata Electronics' factory in Hosur, Mega-scale data centers and Hiranandani Fortune City in Panvel, Noida International Airport, etc. Its other ongoing projects include Mumbai Trans Harbour Link- Package 2, Pune Underground Metro Package -1, and Mumbai Underground Metro Line 3, which are scheduled to be completed in FY24.

Interestingly, L&T, which lost to Tata Projects in the Parliament House project, could bag another prestigious project — Ram Janmabhoomi Teerth Kshetra Temple at Ayodhya, Uttar Pradesh. However, while L&T has been tasked with the construction work of the temple, the Tata Consulting Engineers are working as management consultants for the temple project.

Tata Consulting Engineers is the project management consultant arm of Tata Sons. The company achieved a consolidated total revenue of ₹1,137 crore for FY23, which is a jump of 27% from the previous year.

While the domestic business contributed 62% to the top line, the balance 38% came from overseas. The company also reported its highest-ever net profit of ₹ 150 crore in FY23, so also the dividend payout, which stood at ₹100 crore.

TCE is also engaged in various strategic projects with multiple central and state entities across the infrastructure, transportation, education, and energy sectors. Other than Ayodhya temple, TCE is also involved in many large projects, like High-Speed Rail, CIDCO, etc, which are in different phases of completion.

Tata Projects and TCE have been the unsung heroes of the Tata Group that boasts several larger, more visible, listed entities, which all together accounted for a combined Tata Group revenue of $128 billion (₹9.6 lakh crore) in FY23 and an employee strength of over 935,000 people.