Tata Group Targets $100 Billion Revenue by FY31: Report

Tata Group has set a target of achieving $100 billion in automotive revenue by FY2031, with Chairman N Chandrasekaran outlining an aggressive growth strategy for what is now the conglomerate's largest business vertical, reported Times of India. The target represents a doubling of the group's automotive revenue from approximately $50 billion in FY26. 

The business comprises Tata's listed passenger and commercial vehicle operations, Jaguar Land Rover (JLR), and its privately held automotive components business.

Jaguar Land Rover is expected to continue as the group's biggest revenue generator, with projected annual revenue of $45-50 billion by FY2031.

The commercial vehicle business, including the proposed acquisition of Italian truck maker Iveco, is expected to contribute $35-40 billion over the same period.

In FY26, Tata's passenger vehicle business generated $38 billion in revenue, with JLR accounting for around 80% of that figure. The group's automotive components business contributed $2.5 billion, while the standalone commercial vehicle business reported revenue of $9.5 billion.

After the completion of the acquisition of Iveco, which is targeted for the second quarter of FY27, combined commercial vehicle revenue is expected to reach $25 billion, before growing to $35-40 billion over the subsequent five years.

Alongside the revenue objective, Chandrasekaran said the automotive business is targeting $5 billion in profit by FY2031, a level that would place Tata among the more profitable diversified automotive groups globally if achieved.

The growth strategy will be supported by substantial investments across its automotive operations. Tata plans to invest ₹40,000 crore in its domestic passenger vehicle business over the next five years, while Jaguar Land Rover is expected to invest £20 billion during the same period to support new product development and electrification.

In the commercial vehicle business, annual capital expenditure is expected to remain between 2% and 4% of revenue, with around 55% of that investment earmarked for future technologies.