Tata Motors eyeing $1-bn turnover from defence, overseas markets also on the radar

Tata Motor's defence arm is bidding aggressively for new projects and tenders floated by different armed forces across the globe to further surge the revenues to USD 1 billion.   

The automobile giant will be closing the current year with revenues of Rs 1,650 crore and they are targeting a revenue of Rs 1,800-2,000 crore from defence. In 2015-16 the company bagged a revenue of Rs 2,650 crore solely from its defence business. 

The company recently won important defence contracts for supplying high mobility vehicles, pick-up trucks, tippers and general service vehicles to the army. Tata Motors is also trying to hard to fetch other military contracts for armoured, combat, logistics and combat support projects of the Indian Army.

“We are looking at a turnover of USD 1 billion a year just from defence,” Vernon Noronha, Vice President for Defence and Government business at Tata Motors said to an in-house Tata magazine called Tata Review.

From the defence supplies, the company pulls out almost 3% of its annual revenues. The company occupies 40% market share in the military segment and 75% market share in the internal security segment. The company inked several crucial agreements recently to ramp up the marketing of the defence products in overseas markets.