06/12/2015 TataGroupeyes$350billionmarketcapby2025TheEconomicTimes

http://economictimes.indiatimes.com/markets/stocks/news/tatagroupeyes350billionmarketcapby2025/articleshow/50061941.cms?prtpage=1 1/2

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TataGroupeyes$350billionmarketcapby2025

NEWDELHI:WithitslistedfirmsaddingoverUSD100billiontomarketcapitalisationinthelast15years,theTataGroupislookingatanincreaseofnearlyUSD250billionby2025,includingthroughacquisitions.

Thegroupwillnotshyawayfromglobalbuyoutactivityandwillcontinuetomakesignificantinvestmentsinbothexistingaswellasnewbusinesses,includinginthedigitalspacetomeetitsvision2025targets.

ItislookingtobuildontheplatformsetupbyitspreviousChairmanRatanTata,whomade"thedifference"andtransformedthegroupfromalargelyIndiaorientedentityintoaglobalmultinational.

"Attheturnofthecentury,wehadarelativelysmallmarketcapofjustunderUSD8billion.Wehaveaddeda100billiondollarsplustothatinthelast15years.Iamquiteconfidentthatthiswillcontinuetogrow,"MemberGroupExecutiveCouncilandBrandCustodian,TataSons,MukundRajantoldPTI.

TheTatagrouphasover100independentoperatingcompaniesoutofwhich29arepubliclylisted.ThelistedentitieshadacombinedmarketcapitalisationofaboutUSD134billionasonMarch31,2015.Ithaspresenceinover100countriesacrosssixcontinents.

ThemainlistedTatagroupcompanies,includeTataSteel,TataMotors,TataConsultancyServices,TataPower,TataChemicals,TataGlobalBeverages,TataTeleservices,Titan,TataCommunicationsandIndianHotels.

WhenaskedaboutthetargetMcapunderthegroup's2025vision,Rajansaid:"TodaywearewelloverUSD100billion.By2025,ifwewanttobeamongstthe25mostvaluablecompaniesintheworld,thenumberwewouldneedtohitwouldbearoundUSD350billion."

Asperits2025vision,Tatagroupaimstobeamongst"the25mostadmiredcorporateandemployerbrandsglobally,withamarketcapitalisationcomparabletothe25mostvaluablecompaniesintheworld".

RecollectinghowtheTatagrouphasgrown,Rajansaid:"In2000,wewereprincipallyanIndiabasedgroupwith20percentofourturnovergeneratedoutsideIndia.Fastforward15years,andwearenowsubstantiallyaglobalgroupwithUSD108billionofturnover,70percentofitgeneratedoutsideofIndia."

Thegrouphasbeengrowingbothinthepubliclylistedspaceandalsointheunlistedspace,headded

"IfyoulookatthetruevaluationofTataenterprises(today)asagroup,itwouldinfactbesubstantiallyhigherthanwhattheadditionalUSD100billionofmarketcaprepresents,"hesaid.

ElaboratingontheroleplayedbyTataSonsChairmanEmeritusRatanTataintransformingthegroup,Rajansaid:"Wherewearetoday,owesmuchtothecriticalstrategicchoicesthatMrTatamadeafterIndiastartedliberalisingandopeningupitsmarket."

Tatahaddecidedtobenchmarkthegroupwiththebestintheworldand"notjustconfinethegrouptothedomesticmarketbuttobecomeaninternationalplayer".

"WhatwascleartoMrTatainthe1990swasunlesswewereabletoholdourownagainstthebestintheworld,foreigncompetitionwouldcomeintothedomesticmarketandencroachonourmarketshareandbusiness,"headded.

UnderliningTata'srisktakingabilityandstrongleadership,Rajansaid:"Veryoftenyousaythatonemancanmakethedifference.IcanconfidentlyassertthatforTatasthatonemanwasRatanTata.Ifwehadnothadhimasourleader,Idonotbelievewewouldbeinthepositionthatweareintoday."

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06/12/2015 TataGroupeyes$350billionmarketcapby2025TheEconomicTimes

http://economictimes.indiatimes.com/markets/stocks/news/tatagroupeyes350billionmarketcapby2025/articleshow/50061941.cms?prtpage=1 2/2

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Withthegrouptakingtheacquisitionroutesuccessfully,suchasTetley,JLRandCorustoexpandglobally,itwillnotshyawayfromsuchactivityagain.

"Ican'tpredictwhatthefuturewillbringtousbutwhatIcancertainlysayisthatthankstoMrTatawehavethecouragetomakesuchacquisitionsandwhenopportunitiespresentthemselves,wewillappropriatelydeployourlearningsfromthepastinanyfutureacquisitions,"RajansaidwhenaskediftherecouldbeasbiganacquisitionasCorusorJLRbytheTatagroupagain.

Clearlystatingthegroup'sappetiteforinorganicrouteofgrowth,hesaid:"Wehavesignificantcashonthebooksofmanyofourcompanies.Whenwecontemplateacquisitions,thetimingwillhavetobepickedcarefullyandwewillneedtopicktherightmomentintheeconomiccycletoclosethoseacquisitions."

Rajan,however,saidapartfromacquisitionsthegroupwouldneedtocontinuetomakesignificantinvestmentsinbothexistingbusinessesandsomeofthenewbusinesses,includinginthedigitalspacetomeetitsvision2025targets.

"Therearenewmarketsthatweneedtoexpandourfootprintin.Obviously,marketslikeChinawillcontinuetogrowinstatureandsizeandweneedtocorrespondinglyensurethatourfocusinthosemarketsisalsoenhanced,"hesaid.

Besides,Rajansaid:"Weneedtoseegrowthinmultipledomains,andmultiplemarkets,includingIndia.Indiaalsooffersdramaticgrowthopportunities,andwiththekindofprojectionsbeingmadeforIndia,asignificantpartofourgrowthwillcomefromthismarketalso."

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