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.
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.
Lalit Jalan, Group Director-Strategy & Corporate Affairs--Reliance ADAG, tells CNBC-TV18 that the Group is selling non-core assets as it needs funds to invest its defence business.
Reliance Infrastructure has tied up with US-based Innovari Inc for the pilot implementation of the Automatic Demand Response (ADR) programme in its licensed distribution area.
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.
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.
Anil Ambani-promoted Reliance Infrastructure (RInfra) has said it is expecting almost three-fold rise in revenue from the infra vertical to Rs 1,000 crore this fiscal.
Reliance Infra posted its third quarter results. Net profits came in flat on a YoY basis at Rs 408 crore as high costs eroded margins and net sales came in at Rs 3104 crore compared to Rs 2580 crore same period last year.
At Edelweiss’ conference infrastructure panel including Lalit Jalan, CEO and whole time director of Reliance Infra, Devang Desai, chief financial officer of Adani Enterprises and M Sangameswaran, co-head— infra fund of ICICI Ventures speak about the sector and give their outlook going forward.
Reliance Infrastructure Limited, a unit of Reliance Group and India’s largest infrastructure company, commissioned another 400 kV Double Circuit Transmission line, between Ranchodpura (Vadavi) and Zerda (Kansari) in Gujarat.
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.
The shift from being an energy distribution company to becoming an infra major has been a challenging yet satisfying experience. It was a move into an ocean of untapped opportunities.
In an exclusive interview with CNBC-TV18’s Udayan Mukherjee and Soniya Shenoy, Lalit Jalan, CEO and whole time Director of Reliance Infra says that the most of the projects of the company are nearing financial closure in the next 30-45 days.