"If they compensate the total investment we put into the land, we may return it," company chairman Ratan Tata told reporters on the sidelines of the annual general meeting of group company Tata Tea here.
"Right now, there are no plans regarding the Singur land. But we don't wish to sit on it," Tata said when asked about the group's plans around the plot after the project was shifted to Gujarat following protests from villagers and the Trinamool Congress party, the state's principal opposition party.
"Whatever plan by the state government makes sense, we are okay with it," he said. "We are not submitting any proposal or expecting any proposal from the state government."
Before pulling out of West Bengal, Tata said, the company had pumped in Rs.1,500 crore on the project in Singur, 40 km from the state capital.
Singur had turned into a battleground since May 2006 after the Left Front-ruled state government announced the project to manufacture the world's least expensive car, priced at Rs.100,000 or $2,200, there.
Trinamool Congress-led protestors demanded return of 400 acres of land - of the 997.11 acres acquired - to farmers. Finally, Tata Motors moved the car project out to Gujarat last October.
Among other plans, Tata said the company would open the Tata Memorial Cancer Hospital in New Town, Kolkata's satellite township, by next March.
"West Bengal continues to be in our heart. This hospital opening is just an indication to our commitment to this part of the country."