June 23 (Reuters) – India’s Tata Motors Passenger Vehicles said on Tuesday that it expects to nearly double revenue and sales volumes by fiscal 2031.
The Jaguar Land Rover parent expects to report revenue of over 6 trillion rupees ($63.32 billion) and increase its sales volume to over 1.2 million units by 2031, it said in an investor presentation. It reported annual revenue of 3.36 trillion rupees, with a sales volume of 640,000, in fiscal 2026.
The automaker said a “significant” share of its over 600,000 incremental volumes by FY31 will be driven by electric and CNG vehicles.
It also recently outlined plans to invest 330 billion to 350 billion rupees in its passenger and EV business between FY26 and FY30.
The company is also aiming to increase production capacity to 1.3 million units within two to three years from 900,000 units annually.
Tata Motors PV sees an earnings before interest and taxes (EBIT) margin of 10% and expects to grow market share to 20% by 2031, according to its investor presentation.
The automaker is also expanding its powertrain strategy with a greater focus on gas-powered cars as a way to attract more buyers and reduce emissions.
($1 = 94.7525 Indian rupees)
Reporting by Urvi Dugar in Bengaluru; Editing by Shreya Biswas.
