Mumbai:Hinduja Group remains committed to its pledge of investing $12 billion (Rs 62,520 crore today) in the Indian power sector, and plans to list two-three group companies on the stock markets in up to 14 months, senior group executives said.

The London-based group, which has interests in businesses ranging from commerical vehicles, lubricants and metal casting to trading and banking, plans to develop power projects to generate around 10,000 megawatts (MW) over the next five years.

Gopichand Hinduja, Co-chairman , Hinduja Group. Bloomberg.

The group remains committed to the investment plan, Abin K. Das, a director in Hinduja Group, said in an interview.

Hinduja Group has felt the impact of the global economic slowdown, but remains bullish on India, Das said, although it has no immediate plans to raise its investment target in the country.

In 2008, Gopichand Hinduja outlined plans to invest about $30 billion in India across 10 industries—oil and gas, power, realty, banking, healthcare, automotive, education, infrastructure, information technology and media.

“Considering the track record, financial backing, access to talent and overseas support, the Hinduja Group will not find difficult in executing the various projects they have announced. At least, on executive front, the group is not facing any serious challenges," said Sankaran Manikutty, who teaches business policy and strategy at the Indian Institute of Management, Ahmedabad.

The group plans to list two-three companies in the next 12-14 months.

Currently, six group companies are listed in India. These are Ashok Leyland Ltd, IndusInd Bank Ltd, Gulf Oil Corp. Ltd, Hinduja Foundries Ltd, Hinduja Global Solutions Ltd and Hinduja Ventures Ltd.

“In the coming year, hopefully, the growth would largely come from the power and infrastructure verticals," Das said. “I would say healthcare, media and IT and ITeS (IT-enabled services) verticals would also move ahead. However, the banking and financial services segment would continue to be mainstay. The DNA of the group is trading and banking," Das said.

He added that the Hinduja Group plans to take its defence business to the next level from logistics vehicles to specialized ones like armoured vehicles. It is also looking for technological tie-ups in the aerospace domain.

The group’s first 520MW unit at its power plant in Visakhapatnam (Andhra Pradesh) is on schedule to be commissioned by June 2012 and the second unit will follow in September, said Ashok Puri, managing director of Hinduja National Power Corp. Ltd.

He said fuel linkages for this unit have already been tied up, but for future power plants, the group would participate in the government auction of coal fields and also seek to pick up equity stakes in overseas coal miners to secure supply.