The Hinduja brothers are restructuring their Indian operations in a big way, beginning with centralisation of policymaking via a new company and consolidation of land holdings, adding up to over 1,000 acres now spread across group firms at the operational level.
In healthcare, the Hindujas?who have a trust-run hospital and are building a 350-bed one at Khar in Mumbai?are getting into corporate mode. In power, they are working out a comprehensive business plan. In banking, they will look for synergies between IndusInd Bank and their Amas Bank in Switzerland.
Subir Raha, the former boss of Oil & Natural Gas Corporation, who has joined the Hindujas as executive vice-chairman of Hinduja Group India, said this company would be the new ?corporate centre? for all business interests in India.
Hinduja Group India is headed by GP Hinduja?s son, Dhiraj Hinduja, as chairman and Ashok Hinduja as president.
?Hinduja Group India, which was promoted by Dhiraj, would be the corporate centre of all business initiatives. It would not be a holding company in the sense of having stakes in group companies, but would be a hub, centralising treasury, systems and HR functions,? Raha told FE on the sidelines of the national convention of the All-India Management Organisation.
HGI would also spearhead the group?s foray into real estate, power and healthcare. ?The group has land holdings of around 1,000 acre owned by different corporate entities. In healthcare, a separate corporate body is being formed to re-enter this sector,? he said.