Voltas’ Mega ₹1,300Cr Expansion: Noel Tata Steps Down

During his final Annual General Meeting as Chairman, Noel Tata announced that Voltas is evaluating an entry into compressor manufacturing to strengthen backward integration and boost domestic production. Following the completion of major manufacturing milestones, the company plans to invest approximately ₹200 crore in FY27. This follows a string of large-scale initiatives, including an investment exceeding ₹500 crore for a 65-acre, one-million-capacity AC plant in Tirupati, a new AC factory in Tamil Nadu, and a broader ₹1,300 crore manufacturing blueprint. To finance upcoming facilities in Chennai and Waghodia (Gujarat), Voltas intends to raise up to ₹500 crore via non-convertible debentures. Concluding the meeting, Noel Tata announced he will be stepping down from his role as Chairman of the Tata Group's consumer durables arm.

News by Rahul Yelligetti.