Tata Group realty firm Tata Housing has entered into an agreement with Alstom T&D India to buy its manufacturing unit spread across 20 acres in Bangalore for 120 crores. Tata Housing is planning to launch an ultra-luxury project on this land. The deal is expected to be completed in next three months. Tata Housing is looking at expanding its presence in the fast growing city of Bangalore as part of long term strategy.
Alstom T&D India is part of Alstom Grid, a global player in electrical grids. The company’s India operations account for over 13% of overall revenues garnered by Alstom Grid’s global operations. Apart from India business, other major contributors are the operations in France, the US, Germany and China.
