Tata Group spends around Rs 1,000 crore towards CSR
Submitted by madhava on Mon, 09/08/2008 - 15:15
Known for its philanthropic activities, one of the country's most respected business houses - the Tata Group - spends Rs 800-1,000 crore a year on corporate social responsibility (CSR).
"In Tata steel, we spend Rs 200 crore a year on CSR and the Tata Group as a whole spends some Rs 800-1,000 crore on that per annum," Tata Steel Managing Director B Muturaman said last evening at a programme organised by Organistaion of Plastic Processors of India.
The Tata Trusts control 65.8 per cent of the shares of Tata Sons, the holding company of the Group. The combined development-related expenditure of the Trusts and the companies amount to around four per cent of the Group's net profit, its website said. These philanthropic trusts have created national institutions in science & technology, medical research, social studies and the performing arts.
Tata companies also extend social welfare activities to communities around their industrial units. The salt-to-software Group has 27 listed entities and another 69 unlisted firms, making it one of the largest business houses in the country. During 2007-08, the Group's revenues were estimated at $62.5 billion (around Rs 251,543 crore) of which 61 per cent was from outside India.
(Source: Eco Times, Aug 26, 2008)
