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Tata Projects has announced that the Noida International Airport in Jewar is close to becoming operational, with DGCA approvals still in process. CEO Vinayak Pai said the airport could start operations shortly. The company is expanding its portfolio in sectors such as semiconductors, solar panels, and data centres, aiming to maintain an order book of INR 40,000-43,000 crore. Despite a net loss of INR 751 crore last year due to Covid-era projects, older projects are being completed, and new ventures are expected to drive profitability in the coming year.
Tata Projects, the infrastructure and construction arm of Tata Group, has confirmed that the Noida International Airport at Jewar in Uttar Pradesh is close to starting operations, with necessary regulatory approvals in progress. Advertisement
The company was awarded the contract to construct the Noida International Airport (NIA). Vinayak Pai, CEO and Managing Director of Tata Projects, explained that Noida International Airport Ltd is coordinating with the Directorate General of Civil Aviation (DGCA) to obtain safety and security clearances along with the aerodrome license. He noted that the focus has now shifted to regulatory approvals rather than construction.
Pai said the airport is expected to become operational in a short period. He also highlighted that Tata Projects is expanding its project portfolio and aims to maintain an order book between INR 40,000 crore and INR 43,000 crore. The company is increasingly engaged in projects across emerging sectors, including fourth-generation manufacturing, electronic semiconductor production, solar panel manufacturing, and data centres.
He explained that the average cycle time for projects is reducing, with many now completing in 18 months to two years. Tata Projects is known for fast-track and predictable project delivery, and the company intends to maintain this competitive advantage.
The company had reported a net loss of INR 751 crore in the last financial year. Pai clarified that the losses were due to the cumulative effects of projects executed during and before the Covid period. He added that these older projects are now nearing completion and that the new portfolio is already profitable. He expects next year?s results to reflect the profitability of these newer projects more clearly.
Tata Projects, a technology-led engineering, procurement, and construction (EPC) company, provides ready-to-deploy solutions for semiconductor facilities, giga factories, and data centres, among other infrastructure projects.
Source PTI
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