Transformation program underway at Tata Projects: MD

A transformation programme is underway at Tata Projects to identify the sectors that need more focus within the organization. Speaking to ET on the day he took change, Vinayak Pai, the newly appointed Managing Director of Tata Projects said, “We are running a business transformation programme internally. One of the pillars of the programme is to look at sectors in which we operate.”

Pai assumed office on Thursday, roughly a month after Tata Projects announced that he was the CEO and managing director designate. He last worked as the group president of Netherlands-based Worley and was responsible for businesses in the EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific) regions.

He said that Tata Projects is revaluating which sectors to increase focus on in terms of opportunities. “There might be sectors which we are not there right now, or we are in a limited way,” he said. He explained that green energy and sustainability related projects are an area of interest under the transformation programme.

According to Pai, he was based in the Netherlands last year where significant investment was being planned. There is a similar trajectory in India on spends related to sustainability, alternative energy and decarbonisation. “That would definitely be an opportunity we would look at,” he added.

Responding to a query on the growth of Indian infrastructure investment compared to other countries, Pai said, “The investment, in India, with respect to the size of the economy might not be the largest. But the projected Compounded Annual Growth Rate (CAGR) on infrastructure spends for the next ten years is almost 6.6-7%.”

“There are some developing continents which are growing at 3-3.5%. So the growth in India is actually double. Even in China, the growth is around the 3% mark because of a lot of infrastructure spends have already happened,” he added.