July 26 2002 – Tata Power Co. plans to distribute power in Bangalore, Hyderabad and Pune, reports the Economic Times, quoting General Manager N.K. Gupta.
In Pune, Tata wants to join hands with the provincial utility Maharashtra State Electricity Board, said the newspaper.
“The process of corporation of the state-owned electricity boards has begun. We expect the cities like Bangalore and Hyderabad to take the lead,” the report quoted Gupta as saying. Tata Power reported a 30 per cent increase in its net profit to INR4.88bn for the year ended March 31, said the report.