Reliance Infrastructure eyes Reliance Power ultra mega power projects to boost order book
- Infosys employee murder: Police release high-resolution image of suspect
- PM Modi to meet his ministers today ahead of likely cabinet reshuffle
- India test-fires new surface-to-air missile from defence base in Odisha
- TKA Nair kin part of firm being probed by Income Tax department
- Hafiz Saeed’s No. 2 refers to ‘lions’ who ambushed CRPF bus in Pampore
Reliance Infrastructure, the Anil Ambani led company that provides engineering, procurement and construction (EPC) for developing power and road projects, saw a reduction in the segment revenues in the July-September quarter at Rs 1,800.49 crore from Rs 2,211.31 crore in the same period last year.
"At present, not many orders are coming in power business due to several sectoral issues. Meanwhile, there is a huge in-house opportunity in RPower's two ultra mega power projects - Krishnapatnam and Tilaiya," RInfra Director and CEO Lalit Jalan said during an interaction with media here.
R-Power is developing three ultra mega power projects, each of 3,960 mw capacity, in Sasan in Madhya Pradesh, Krishnapatnam in Andhra Pradesh and in Tilaiya in Jharkhand.
"These orders are upwards of Rs 20,000 crore but there are certain issues associated with them that need to be cleared. We are hopeful that things will get streamlined soon and RPower will issue bids for the Tilaiya and Krishnapatnam projects. We expect to bag orders for these projects in the near future," he said.
At present, the order book of the company stands at Rs 13,910 crore and has an exposure of over 5,000 mw in the EPC segment.
RInfra had reported a 6 percent rise in consolidated net profit at Rs 382 crore in the September 30 quarter as against Rs 362 crore a year ago.
However, its total operating income declined to Rs 5,515 crore in the July-September quarter against Rs 5,729 crore in the corresponding period last fiscal.
Its income from infrastructure business rose to Rs 110.54 crore from Rs 77.24 crore mainly on back of eight of its projects going operational.
"In the road division, we have 11 projects in operations/developing, worth Rs 1,000 km. By the end of the fiscal, we will have 10 projects generating revenues," Jalan said.
- PM Modi’s search for support for India’s NSG bid shows leadership, not desperation
- A separate rail budget must continue for the sake of transparency
- Why Swamy’s real target is not Rajan or Arvind Subramanian
- In football, the English miss the goalposts. In European politics, they miss the point
- Anxieties arising from the collapse of the welfare state lie behind the vote
- To attract best human capital PSUs need to be independent holding company