RELIANCE INFRASTRUCTURE LTD
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BSE Code:
500390
NSE Code:
RELINFRA
Business Profile
Business Profile
BSES was incorporated in 1929 as `Bombay Suburban Electric Supply Limited`. Reliance has an aggregate shareholding of 53.38%, and hence there was a name change from the then BSES Ltd. The company`s principal activity is to generate, transmit and distribute electricity. It also provides electrical contracting, engineering, procurement and construction contracts and computer services. REL has recently entered the broadband business. BSES group includes its subsidiary companies: ST-BSES Coal Washery, BSES Infrastructure Finance, Utility Powertech, Ticapco, BSES Telecom, BSES Kerala Power, BSES Andhra Power and three new companies of Orissa and a wind farm project in Karnataka. BSES and its subsidiaries provide electricity services to more than 2.70 million consumers in area covering about 1,23,000-sq. km. with an estimated population of about 34 million. BSES holds an exclusive license to distribute power to users in Mumbai?s northern suburb upto 2011. BSES
It has also entered into a JV with the Delhi government for power supply to major parts of Delhi. The company caters to the urban areas only. BSES operates a state-of-the-art 500 MW thermal power station at Dahanu near Mumbai and supplies the power to the company`s own distribution grid. Its distributions include Orissa distribution companies and a part of Rajasthan distribution system. It provides consultancy services to Goa power department and Andhra Pradesh state electricity board.
Financials
The company reported a rise of 11% in the net profit for the quarter ended Mar.31, 2009. The company reported a profit of Rs 3,460 million as against Rs 3,110 million in the prior year. Total operating income of the company was at Rs 24,090 million, a rise of 40% over the previous year. It posted profit of Rs 15.30 a share, a rise of 16% over the prior year period.
Recent Developments
13-FEB-09
The company announced a fresh program for buy-back of shares of Rs 7 billion as approved by shareholders.
11-NOV-08
Foreign institutional investors (FIIs) such as Morgan Stanley, Merrill Lynch and Citigroup have sold off their holdings in Reliance Infrastructure (R-Infra) after the company opened a buyback offer in March this year, reports Business Standard.
15-SEP-08
The company has an Anil Ambani group company, has entered into the engineering, procurement and contract (EPC) business for steel makers, reports Economic Times.
28-JUN-08
The company is planning to invest USD 7 billion in the next three years to expand its engineering and construction business in India and acquire assets overseas.The company will borrow as much as 80% of the funds. The company is likely to enter China in the next two months and aims to develop a global business.The proposed investments will be separate from the USD 28 billion that its 45% owned unit Reliance Power plans to spend on adding generation capacity in India in five years.
25-APR-08
ADA group Reliance Energy has been rechristened as `Reliance Infrastructure`. The new name Reliance Infrastructure appropriately reflects the current nature of businesses. The new identity redefines the company`s vision and focus to emerge as a premier infrastructure company.
10-MAR-08
The board of directors of Reliance Energy decided to change the name of the company to `Reliance Infrastructure`.
20-JUL-07
(BSES)-promoted three special purpose vehicles (SPVs) signed three concession agreements with the National Highways Authority of India (NHAI) to build three national highways of four-lane sections totaling 400 km on NH-7 in Tamil Nadu on Build-Operate-Transfer (BOT) basis.
04-JUL-07
BSES is planning to set up three hydel projects which will generate 1,980 MW.
21-MAR-07
Reliance Energy (REL) secured a contract for developing the Trichy-Dindigul National Highway four-laning project to be undertaken in the BOT Scheme. REL asked for a grant of Rs 2263 million, after the negotiations. The company won the project through competitive bidding.
31-JAN-07
REL bags an engineering, procurement and construction (EPC) contract worth Rs 38 billion for setting up a 1,200 mega watt (MW) coal-fired power plant at Yamuna Nagar in Haryana.
25-JUN-06
Bombay High Court has passed an order sanctioning the scheme merger of Reliance Energy Ventures with the Company.