Tata Power, India's largest integrated power company, has always undertaken various initiatives with an aim to improve the quality of life, and ensure holistic development of its surrounding communities.
The company brought in robustness to systems and processes to align to the intended outcomes, thus benefitting more than 250 villages across 7 states in FY15 through community development initiatives. The Tata Power Community Development Trust acts as development vehicle for driving these initiatives.
Anil Sardana, MD & CEO, Tata Power, said, ''We at Tata Power have always believed that companies must give back to the society on a sustainable basis. Led by its motto of inclusive growth, these initiatives have augmented the potential of the target communities, thereby strengthening our belief of being a neighbour of choice. As a part of collective responsibility towards nation building, Tata Power will continue to engage with key stakeholders including community to sustain the desired outcomes in the long run.''
At present, the CSR outreach covers half a million people through various initiatives in education, health, livelihood, social capital, and nurturing sustainability. The total CSR spend of the company in FY15 stood at Rs 311 million as against the required 2 per cent (Rs 298 million) as per the companies act. In addition to the above, the CSR spend of subsidiaries and joint ventures of the company was Rs 182 million, as against the required Rs 172 million as per the Act.
Shares of the company declined Rs 5.85, or 8.58%, to settle at Rs 62.30. The total volume of shares traded was 704,799 at the BSE (Monday).