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REC Limited Establishes New Subsidiary for Renewable Energy Transmission Project

REC Limited has incorporated a new wholly-owned subsidiary, Bellary Davanagere Power Transmission Limited (BDPTL), to strengthen the transmission system for integrating 3 GW of additional renewable energy potential in Karnataka. BDPTL, with an authorized and paid-up capital of ₹5,00,000, was incorporated on September 25, 2025. The project aims to integrate 0.25 GW in Davanagere and 2.75 GW in Bellary. REC Power Development and Consultancy Limited (RECPDCL) will act as the Bid Process Coordinator for selecting a bidder through the Tariff Based Competitive Bidding process.

24Sept 25

REC Divests Entire Stake in Davanagere Power Transmission to Power Grid Corporation

REC Limited has sold its 100% stake in Davanagere Power Transmission Limited to Power Grid Corporation of India Limited for ₹5.00 crore. The transaction, executed through REC's subsidiary RECPDCL, involved transferring 50,000 equity shares at par value, including all assets and liabilities of the project-specific SPV. The sale is expected to have minimal financial impact on REC Limited. The divestment aligns with REC's strategy to streamline its portfolio and focus on core business activities.

23Sept 25

REC Limited Appoints IAS Officer Prince Dhawan as Executive Director

REC Limited, a major player in India's power sector financing, has appointed Shri Prince Dhawan, an IAS officer from the AGMUT cadre, as its new Executive Director effective September 23, 2025. Dhawan, who holds degrees from IIT Delhi and Harvard University, brings experience from his previous roles as Managing Director of Delhi Transport Corporation and Special Commissioner (Transport) for the Government of NCT of Delhi. This appointment represents a change in REC's senior management at one level below the Board of Directors.

06Aug 25

REC Limited Reports Record Q1 Profit of ₹4,451 Crore, Achieves Highest Ever Quarterly Disbursements

REC Limited achieved its highest quarterly net profit of ₹4,451.00 crore, up 29% year-on-year. Quarterly disbursements reached a record ₹59,508.00 crore, increasing 36%. The loan book grew 10% to ₹5.85 lakh crore, with net interest income rising 17% to ₹5,247.00 crore. Asset quality improved with gross NPAs at 1.05% and net NPAs at 0.24%. The company sanctioned over ₹1 lakh crore in projects, with 43% in distribution and 20% in renewable energy. An interim dividend of ₹4.60 per share was approved. Management targets 12% loan growth for the year and anticipates potential provision reversals of ₹700.00-800.00 crore.

01Aug 25

REC Reports 10% Loan Book Growth, Projects 12% Expansion for Coming Year

REC Limited's loan book reached Rs 5,84,568.00 crores, a 10% year-over-year increase. The company projects 12% loan growth for the upcoming year and anticipates potential provision reversals of Rs 700.00-800.00 crores. REC held an Investors Conference Call and announced its 56th Annual General Meeting to be conducted via video conferencing on August 27.

01Aug 25

REC Aims for Net Zero NPAs by FY26, Announces Investor Conference Call

REC Limited, a Maharatna company in power sector financing, aims to achieve net zero non-performing assets (NPAs) by the end of fiscal year 2025-26. The company announced this during an investor conference call, demonstrating its commitment to improving asset quality. REC's 56th Annual General Meeting is scheduled for August 27, 2025, via video conferencing. E-voting for resolutions will be available from August 24-26, 2025. The Board has recommended a final dividend for FY 2024-25, subject to shareholder approval. REC emphasizes the importance of updating KYC details for smooth dividend payments.

24Jul 25

REC Reports 29% Jump in Net Profit to 44.5 Billion Rupees, Declares ₹4.60 Interim Dividend

REC Limited, a power sector financier, reported a 29% increase in net profit to ₹44.50 billion for the quarter. The company's revenue grew to ₹142.00 billion, with interest income on loan assets rising to ₹141.92 billion. The Board declared an interim dividend of ₹4.60 per equity share. REC's financial position remains strong with a net worth of ₹796.88 billion and a capital adequacy ratio of 23.98%. The company also appointed a new Secretarial Auditor and amended its Code of Conduct for insider trading regulations.

22Jul 25

REC Limited Sets Board Meeting to Review Q1 FY2026 Results and Consider Interim Dividend

REC Limited, a Maharatna energy company, has scheduled a board meeting for July 24, 2025. The agenda includes reviewing Q1 FY2025-26 unaudited financial results and considering the declaration of the first interim dividend. A trading window closure is in effect from July 1 to July 26, 2025, for designated persons and their immediate relatives.

07Jul 25

REC Expands Power Infrastructure Reach with Two New Subsidiaries in Maharashtra

Rural Electrification Corporation (REC) has formed two new subsidiary companies dedicated to handling local transmission projects in Maharashtra. This strategic move aims to strengthen REC's presence in state-level power transmission projects and improve power infrastructure development in the region. The focused approach is expected to streamline project management and potentially accelerate the development of power transmission infrastructure in Maharashtra.

01Jul 25

REC Power Development Expands Portfolio with New Subsidiary

REC Power Development has incorporated SR WR Power Transmission as a new subsidiary, potentially expanding its reach in the power transmission market and diversifying its service portfolio. This strategic move is expected to strengthen the company's position in the power sector value chain.

30Jun 25

REC Reports ₹1,393.65 Crore in Outstanding Dues from SPVs, Sanctions ₹30,000 Crore Loan to KIPCL

REC Limited has disclosed ₹549.49 crore in outstanding dues from two Special Purpose Vehicles (SPVs) - TSWRIDC (₹319.74 crore) and KIPCL (₹229.75 crore) - as of March 31, 2023. The total amount owed to REC, including other dues, is ₹1,393.65 crore. Despite these outstanding amounts, REC has sanctioned a significant loan of ₹30,000 crore to KIPCL, demonstrating its continued support for large-scale infrastructure projects in the irrigation sector.

27Jun 25

REC Expands Operations with New Subsidiary RECPDCL

REC, a major player in India's power sector, has established a new wholly owned subsidiary called REC Power Development and Consultancy Limited (RECPDCL). The subsidiary will focus on power development and consultancy services, leveraging REC's industry expertise. This strategic move expands REC's service portfolio beyond its traditional financing role, potentially creating new revenue streams and strengthening its market position in the power sector.

26Jun 25

REC Expands Power Transmission Portfolio with New Subsidiary

REC Limited has formed a new wholly-owned subsidiary, Ananthapuram II Power Transmission Limited, to expand its power transmission operations. This strategic move aims to enhance REC's capabilities in developing and managing power transmission infrastructure. The new subsidiary is expected to allow for a more focused approach to power transmission projects, potentially leading to improved efficiency and specialized expertise. This development signals REC's intention to strengthen its presence in the power transmission sector and could have significant implications for the company's future growth and role in India's power infrastructure development.

05Jun 25

REC Ltd Board Approves ₹1.55 Lakh Crore Fundraising Plan, Subsidiary Strike-Off

REC Ltd's board has approved a ₹1.55 lakh crore fundraising plan through private placement of bonds/debentures, pending shareholder approval. The company also decided to strike off its subsidiary, Rajgarh III Power Transmission Ltd, following project de-notification by the Ministry of Power.

04Jun 25

REC Ltd Approves ₹1.55 Lakh Crore Bond Fundraise, Plans to Strike Off Subsidiary

REC Limited, an Indian power sector financier, has announced plans to raise up to ₹1.55 lakh crore through private placement of bonds or debentures, subject to shareholder approval. Simultaneously, the company has decided to strike off its subsidiary Rajgarh III Power Transmission Ltd. This substantial fund-raising target, approximately $18.70 billion, suggests potential expansion or significant investment plans for REC. The decision to eliminate a subsidiary may indicate a strategic shift in operations.

21May 25

REC Expands Operations with Three New Subsidiary Companies

REC, a leading Indian public infrastructure finance company in the power sector, has incorporated three new subsidiary companies. This move suggests a strategic expansion of REC's operations, potentially aimed at diversification, specialization, risk management, or regulatory compliance. While specific details about the subsidiaries' names, purposes, and structures are yet to be disclosed, this development signals REC's proactive approach to evolving its business model and strengthening its position in the power sector financing landscape.

14May 25

REC Ltd Cuts AUM Growth Guidance, Q4 Profit Up 5.5%

REC Ltd revised its FY26 AUM growth guidance to 11-13% from 15-17%, causing a 3.2% stock price drop to ₹288.80. Despite this, Q4 net profit rose 5.5% YoY to ₹4,236.00 crore. The company proposed a ₹2.60 per share final dividend and approved a joint venture with BHEL for renewable energy projects.

08May 25

REC Limited Reports Strong Q4 Results and Forms Joint Venture with BHEL

REC Limited, a power sector financing company, reported robust Q4 financial results with revenue increasing to ₹151.60 billion, up 20.32% year-over-year. The standalone net profit reached ₹42.36 billion. The board recommended a final dividend of ₹2.60 per equity share. REC also formed a 50:50 joint venture with Bharat Heavy Electricals Limited (BHEL) to focus on renewable energy and other power projects.

08May 25

REC Ltd Reports 5.7% Rise in Q4 Net Profit, Declares Final Dividend

REC Ltd, a major Indian power sector financier, reported a 5.7% increase in Q4 FY25 consolidated net profit to ₹4,310.00 crore. Total income rose by 20.8% to ₹15,348.00 crore. The board recommended a final dividend of ₹2.60 per share, subject to shareholder approval.

22Apr 25

REC Ltd Welcomes New CMD: IAS Officer Jitendra Srivastava Takes Charge

REC Limited, a Maharatna company under the Government of India, has appointed Jitendra Srivastava, an IAS officer of the 2000 batch, as its new Chairman and Managing Director (CMD) effective April 22, 2025. Srivastava replaces Smt. Parminder Chopra, who held additional charge as CMD. The appointment comes as REC expands its operations beyond power and renewable energy into broader infrastructure projects, recently securing a ₹1.00 trillion MoU with Mumbai Metropolitan Region Development Authority.

08Apr 25

REC Limited Commits ₹1 Lakh Crore for Mumbai's Infrastructure Boost

REC Limited, a state-owned finance company, has announced plans to invest ₹1 lakh crore (approximately $12 billion) in Mumbai's infrastructure over the next five years. The funding is expected to support various sectors including transportation, energy, housing, water and sanitation, and smart city initiatives. This long-term investment strategy aims to accelerate urban development, stimulate economic growth, create jobs, and improve the quality of life for Mumbai's residents. The move also signifies REC's expanding role in India's infrastructure financing landscape.

31Mar 25

REC Limited Expands Power Transmission Portfolio with New Subsidiary

REC Limited's subsidiary, RECPDCL, has incorporated Velgaon Power Transmission Limited on March 29, 2025, with a paid-up capital of ₹5.00. This new entity will manage an intra-state transmission project in Maharashtra, involving the establishment of a 400/200 kV Velgaon S/Stn (GIS). RECPDCL will conduct a Tariff Based Competitive Bidding process to select a bidder, after which the new subsidiary will be transferred to the winning bidder.

26Mar 25

REC Ltd Unveils ₹1.7 Trillion Market Borrowing Programme for FY 2025-26; Subsidiary Divests Stake in Mahan Transmission

REC Limited, a Maharatna company, has approved a market borrowing programme of ₹1.7 trillion for FY 2025-26. The plan includes ₹155,000 crore in domestic bonds/debentures, ₹10,000 crore in short-term loans, and ₹5,000 crore in commercial papers. The company will use various instruments including infrastructure bonds, green bonds, and ECBs. Additionally, REC has provided for ₹20,000 crore in short-term financial arrangements. The Board also appointed Smt. Parminder Chopra as CMD (additional charge), and REC's subsidiary RECPDCL divested its stake in Mahan Transmission.

24Mar 25

REC Limited Transfers Four Project-Specific Subsidiaries to Strategic Bidders

REC Limited has transferred its entire shareholding in four project-specific subsidiaries to selected bidders through a competitive process. The transfer, executed on March 24, 2025, involved 50,000 equity shares each of Banaskantha Transco Limited, Kurnool-IV Transmission Limited, Rajasthan V Power Transmission Limited, and Ratle Kiru Power Transmission Limited. Power Grid Corporation of India Limited acquired three subsidiaries, while IndiGrid 2 Private Limited acquired one. The transaction includes professional fees ranging from ₹5.00 crore to ₹15.00 crore per subsidiary. REC stated that the financial impact of these transfers is minimal, with negligible contributions to turnover, revenue, income, and net worth from these subsidiaries in the last financial year.

21Mar 25

REC Limited to Consider Market Borrowing Programme for FY 2025-26 Amid Leadership Changes

REC Limited has scheduled a board meeting for March 26, 2025, to consider its market borrowing programme for FY 2025-26. Simultaneously, Smt. Parminder Chopra, CMD of Power Finance Corporation Limited, has been given additional charge as CMD of REC Limited for three months, effective March 21, 2025. This appointment follows the conclusion of Shri Vivek Kumar Dewangan's tenure as CMD. Chopra brings over 35 years of experience in the power and financial sectors to her new role.

19Mar 25

REC Limited Announces Dividend of ₹3.60 Per Share

REC Limited, a major player in India's power sector financing, has declared a dividend of ₹3.60 per share. The company, formerly known as Rural Electrification Corporation Limited, focuses on financing and promoting electric power infrastructure projects across India, particularly in rural areas. This dividend payout represents a direct return on investment for shareholders and reflects the company's commitment to creating value for its investors.

13Mar 25

REC Limited Inks ₹184 Billion MoU with Kerala for Pump Storage Projects

REC Limited has signed an MoU with the Kerala government for pump storage projects, investing ₹184 billion. This partnership aims to enhance Kerala's renewable energy infrastructure, improve grid stability, and boost sustainable development. The pump storage facilities will help manage intermittent renewable energy sources, ensuring more reliable power supply and encouraging greater adoption of clean energy in the state.

07Mar 25

REC Limited Expands Market Borrowing Programme to ₹1.8 Trillion for FY 2024-25

REC Limited, a Maharatna company in India's power sector financing, has increased its market borrowing programme for FY 2024-25 from ₹1.6 trillion to ₹1.8 trillion. The revised programme includes bonds/debentures, term loans, external commercial borrowings, and commercial papers, with funds to be raised through private and public placement. This ₹200 billion increase reflects REC's proactive approach to meet funding requirements and potentially indicates growing demand for infrastructure financing.

06Mar 25

REC Limited Anticipates ₹2,600 Crore Recovery from KSK Mahanadi Power Project

REC Limited, a major power sector NBFC, expects to recover approximately ₹2,600 crore from the KSK Mahanadi power project. This significant recovery could improve REC's asset quality, enhance financial stability, and potentially boost market sentiment. The funds may be reinvested into new projects or used to strengthen REC's lending capacity in the power sector.

03Mar 25

REC Limited to Review Market Borrowing Programme for FY 2024-25

REC Limited, a Maharatna company in India's power sector financing, has announced a board meeting for March 7, 2025, to discuss and potentially revise its market borrowing programme for the fiscal year 2024-25. The meeting, compliant with SEBI regulations, could significantly impact REC's financial structure and future operations. Investors are anticipating insights into the company's capital requirements, potential changes in debt profile, and management's outlook on market conditions and growth opportunities.

19Feb 25

Power Grid Corp Acquires Khavda V-BIB2 Power Transmission from REC Subsidiary

Power Grid Corporation of India Limited (PGCIL) has acquired the entire shareholding of Khavda V-BIB2 Power Transmission Limited from REC Power Development & Consultancy Limited (RECPDCL) on February 18, 2025. The transaction involved 50,000 equity shares at par value, along with all assets and liabilities. PGCIL paid a professional fee of ₹5 crore to RECPDCL and reimbursed expenses. The acquisition, part of a larger transaction including Bidar Transco Limited, was executed through a tariff-based competitive bidding process and complies with Ministry of Power guidelines.