Six major Tata Group companies reported combined losses of Rs 68,341 crore over FY23-FY26, a period that largely covered N Chandrasekaran’s second term as Tata Sons chairman.
The companies are Air India, Tata Digital, Tata Projects, Tata Play, Tata International and Tata Realty and Infrastructure.
According to a report by Moneycontrol, Air India accounted for the largest share, with cumulative losses of Rs 48,929 crore, or nearly 72% of the total. Tata Digital followed with losses of Rs 12,154 crore. Together, the two companies contributed nearly 89% of the combined losses.
Tata International reported losses of Rs 2,514 crore, followed by Tata Projects at Rs 2,444 crore, Tata Play at Rs 1,539 crore and Tata Realty and Infrastructure at Rs 761 crore.
Losses surge in final two years
The combined losses fell from Rs 14,078 crore in FY23 to Rs 6,322 crore in FY24, but subsequently increased to Rs 17,219 crore in FY25 and surged 78% to Rs 30,722 crore in FY26. The final two years alone accounted for around 70% of the four-year losses.
Air India’s losses more than doubled to Rs 22,238 crore in FY26 from Rs 10,859 crore a year earlier.
Chandrasekaran had described its transformation as a five-to-10-year process involving fleet renewal, training, network expansion and organisational changes.
Tata Digital’s losses also climbed to Rs 4,974 crore in FY26 from Rs 1,370 crore in FY23. The figures highlight the challenges facing several of Tata Group’s strategic businesses as Chandrasekaran prepares to step down in February 2027.
