Tata Projects, the infrastructure and construction arm of the Tata Group, on Thursday said that the upcoming Noida International Airport at Jewar in Uttar Pradesh is nearing completion and will soon begin operations, with regulatory approvals currently in progress.
Tata Projects Ltd was awarded the contract to construct the Noida International Airport (NIA).
“Noida International Airport Ltd is working with DGCA (Directorate General of Civil Aviation) to get safety, security clearances, the aerodrome license, as they call it. So now it is into more regulatory approval process rather than the construction.
“So by and large our work is ready for the Prime Minister to come and inaugurate,” said Vinayak Pai, CEO and Managing Director of Tata Projects, during a press meet.
Responding to a question, Pai said the airport is expected to begin operations “in a short period of time.”
The company, he added, is expanding its portfolio with new projects and aims to maintain an order book in the range of ₹40,000 crore to ₹43,000 crore.
Tata Projects is also focusing on emerging sectors such as fourth-generation manufacturing, electronic semiconductor fabrication, solar panel production, and data centres.
“So our average cycle time is reducing. Many of these projects get completed in 18 months to two years... We are known for our fast track project delivery, predictable project delivery, and we want to maintain that special edge,” Pai explained.
The company had reported a net loss of ₹751 crore in the previous financial year.
On this, Pai said, “These losses are on account of the cumulative effect of projects which were going on during Covid and before that. So a lot of those projects are now getting completed.
“Our portfolio of new projects is steadily profitable. Old projects will be completed this year. From next year, it will be the new portfolio which will reflect in the result, and you will see a very good reflection of that in the profitability.”
Tata Projects, a technology-led engineering, procurement and construction (EPC) company, provides ready-to-deploy solutions for semiconductor facilities, giga factories, data centres, and other large-scale infrastructure developments.