"We will develop 200 lakh sq ft in different cities over the next four to five years. The revenue potential from this will be about three billion dollars," Tata Housing Development Company managing director and CEO Brotin Banerjee told PTI.
The projects will be developed by the company on its own as well as in partnership with land-owners and other real estate firm, he added.
Out of the total planned development, Banerjee said about 60 per cent would be done directly by the company.
The projects are coming up in 8-9 major cities such as NCR, Mumbai, Goa, Hyderabad, Chennai, Bangalore and Kolkata, he said, adding currently construction work is going on in about 12 million sq ft area.
Asked about the investment that would be required to develop these areas, Banerjee said: "About 60-70 per cent of the targeted realisation will be investment".
"The money infusion from our side will be through internal accruals and investment from Tata Sons," he said.
Banerjee ruled out any immediate plan to list the Tata Sons subsidiary separately but said the company might look at raising funds through private equity route after a year.
Giving details of the projects that the company plans to undertake, he said it would be a combination of residential, commercial, office and hospitality sectors.
"We will construct three to four premium hotels comprising about 1,000 rooms as part of our integrated townships," he said.
