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ITD Cementation lost out to Reliance Infra on the Bandra-Versova Sea Link project. This is the second loss that ITD Cementation has faced in quick succession after they lost the Mumbai Trans Harbour Link earlier.
The power sector is in focus as statements from the power minister indicate that electricity tariffs across India could rise by between 62 paise and 93 paise per kilowatt-hour during the first year of upgrading coal-fired power plants to make them desulphurised.
Reliance Infrastructure is in focus after the company signed a definitive binding agreement with Adani Transmission Limited for 100 percent stake sale of its Mumbai Power Business. CNBC-TV18's Kevin Lee caught up with Lalit Jalan, CEO of Reliance Infrastructure and began by asking him how long will the deal closure take and what are the regulatory approvals left.
ICRA has essentially rated Reliance Infrastructure InvIT’s debt as AAA. In an interview to CNBC-TV18, Shubham Jain, VP-Corporate Ratings of ICRA explains what this signifies.
Reliance Infrastructure is betting on defence and Analyst Dhirendra Tiwari says that it is well placed in terms of overall opportunity.
Speaking to CNBC-TV18 about the deal Reliance Group Director Lalit Jalan said the sale is in line with the company‘s strategy to exit non-core assets.
Nisha Poddar of CNBC-TV18 was joined by Puneet Dalmia of Dalmia Bharat, Anil Singhvi of Ican Investments Advisors and Vikram Hosangady of KPMG to understand the big deal between JP Associates and UltraTech Cement, and other deals in the offing.
Lalit Jalan says Reliance Infrastructre will focus on defence, and expects the company to be debt free by March 2017. The company will also look for opportunities in the EPC space, Jalan says.
Nikhil Gandhi, Chairman of Pipavav Defence told CNBC-TV18 that exiting CDR will help the company bag larger projects in defence and related sectors.
“We are public service utility company and we work for benefit of consumers and are accountable to Delhi Electricity Regulatory Commission (DERC) according to the Electricity Act," said Praveer Sinha, MD & CEO of Tata Power Delhi Distribution.
India Ratings has downgraded Reliance Infrastructure to 'A+' from 'AA-' post Pipavav acquisition. In an interview to CNBC-TV18, Rakesh Valecha, Senior Director and Head of Corporates at India Ratings, said he expects Reliance Infra‘s debt/EBITDA to fall below 5x.
This is the first big deal after the government opened up defence sector and both the companies have a shared vision for infrastructure growth, said Nikhil Gandh of Pipavav Defence.
Lalit Jalan, Group Director - Strategy & Corporate Affairs of Reliance Group said that Aptel order has created a level playing field.
Pramod Deo, Former Chairperson of CERC says these allegations basically mean that there is lack of faith in electricity act and the regulator. He however makes it clear that in no way is he defending the regulators and saying that they are doing their jobs well. "There is always scope for improvement," he adds.
In the last 6-8 months, fair and remunerative price (FRP) had gained momentum, due to which the dependence of these distribution companies (DISCOMs) on banks funding had reduced substantially.
R-Infra has guided for 8-10% margin growth in FY14 on robust EPC order pipeline.
K Ravi Kumar, Independent Director of Reliance Infra told CNBC-TV18 regulatory bodies like the Central Electricity Regulatory Commission (CERC) should be free to fix tariffs.
The kind of revenue growth which infra companies, including Reliance Infrastructure saw in FY12 is not sustainable, said Lalit Jalan, chief executive of the company.
Lalit Jalan, CEO & Wholetime Director of Reliance Infra says a recent Delhi metro lines‘ inspection showed fault in construction. "The operations are not likely to resume till the line is safe," he confirmed.
In an interview to CNBC-TV18, Lalit Jalan, chief executive officer, Reliance Infra says low tariffs were leading distribution companies or discoms to face a loss of almost Rs 2 a unit which was leading to a loss of Rs 20 crore a day.
In an interview with CNBC-TV18, JP Chalasani, CEO, of Reliance Power said that the unit is ready for power generation and is likely to increase its volumes by one and half times its generation capacity in April.
Reliance Infrastructure has reported its fourth quarter numbers. The company has reported a healthy 84% YoY revenue growth at Rs 7,140 crore for the fourth quarter ended March 2012 on the back of robust improvement in order execution in the EPC segment.
Power sector has been one of the biggest underperformers in the market in last three years. Commenting on the sector, Lalit Jalan, CEO and whole time director at Reliance Infra says, “Land and fuel had been the key issues for power generating companies.
In an interview to CNBC-TV18, Lalit Jalan, chief executive officer and whole time director of Reliance Infra says, one of the highlights of the quarter has been the strong engineering, procurement and construction (EPC) vertical. “We have given a guidance of 8-10% margins for our EPC business."
Lalit Jalan, CEO & Whole Time Director, Reliance Infrastructure in an interview with CNBC-TV18 said that the company's transformation from a distribution company to an infrastructure major is well on its way. A quantum jump in revenues from the construction business is expected in FY12.
