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Tata Projects Announces Financial Results for FY 2024 Focuses on Sustainability and Innovation

Tata Projects, a prominent Indian Sustainable Technology-led Engineering, Procurement, and Construction (EPC) company and a part of the esteemed Tata Group, has unveiled its financial performance for the fiscal year.

Vinayak Pai, MD & CEO at Tata Projects, provided insights into the FY24 performance, stating, “Our strategic realignment, organisational transformation, and enhanced emphasis on operational efficiencies are yielding positive outcomes. I am proud to announce that we have regained profitability and are advancing steadily towards delivering consistent and sustainable projects through innovation and technology.”

Elaborating further, Pai remarked, “Tata Projects continues to set industry benchmarks for safety standards, maintaining the highest safety parameters in the Indian Construction Industry. Our commitment to diversity and inclusion is evident in the composition of our leadership team, underscoring our industry’s dedication to leading Diversity & Inclusion initiatives. We are also enthusiastic about our program aimed at shaping the future of construction through our frontline skill development initiative.”

Strategy & Growth: The company has strategically pursued selective bidding in preferred sectors, driving profitable growth, focusing on complex projects, and leveraging favorable market conditions. The strategic emphasis on customer satisfaction through the delivery of sustainable projects via innovation and technology positions Tata Projects as a frontrunner to seize emerging opportunities and expand its market presence.

Driving Technology & Innovation: Tata Projects has intensified its focus on digital project delivery to achieve industry-leading efficiencies and innovation. Notably, the company migrated to SAP ERP within a remarkable 9-month implementation period, possibly one of the fastest rollouts in the EPC sector. Additionally, Tata Projects has forged several technology partnerships to offer tailored and cutting-edge solutions to its customers, driving sustainability in construction and reducing the carbon footprint of projects.

Building the New India: The company’s project wins during the year, including the Micron Semiconductor unit in Gujarat, Chennai Metro Line, and the Tata Power Solar plant in Tamil Nadu, underscore its commitment to technological advancement in shaping the new India. These projects, alongside endeavors such as the Noida International Airport, exemplify the trust bestowed by customers in Tata Projects’ ability to deliver integrated projects predictably within cost and time.

Notable achievements during FY24 include landmark projects such as the New Parliament Building, Atal Setu (MTHL), solar manufacturing plant for First Solar Inc, and several hundred kilometers of Dedicated Freight Corridor, and Trisonic Wind Tunnel for ISRO. With these projects, Tata Projects continues to play a pivotal role in shaping the skyline of New India.

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