Located in Prayagraj district, the project will add 2,400 MW through three ultra‑supercritical 800 MW units. REC Ltd and PFC Ltd, India’s leading power sector financiers, have signed a ₹268.5 billion common loan agreement with Meja Urja Nigam Pvt Ltd (MUNPL) to fund the second stage of the Meja Thermal Power Project in Uttar Pradesh....
Tag: REC
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REC Declares First Interim Dividend as Q1 Profit Jumps 23%
The company’s standalone loan book stood at ₹5.9 trillion as of June 30, the largest for any central government-owned NBFC in India. REC Ltd, the power sector financier, on Friday approved its standalone and consolidated financial results for the quarter ended June 30, 2026, declaring its first interim dividend of ₹4.25 per share for FY2026‑27....
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PFC-REC Merger Scheme Approved by Boards, Creating ₹11 Trillion Power Financing Giant
Once completed, the merger will strengthen India’s ability to finance large-scale power and renewable energy projects through a unified, globally competitive institution. The boards of Power Finance Corp. Ltd (PFC) and REC Ltd (REC) have approved a merger scheme that will combine India’s two leading government-backed power sector financiers into a single entity with a...
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Accelerating Sustainable Energy Sector Growth with the Power of AI
As the leading Maharatna non-banking financial company (NBFC), REC Ltd is harnessing the potential of AI and Big Data to unlock a new era of enhanced efficiency and service excellence. Artificial intelligence (AI) and machine learning (ML)—the imitation by computers and robots of the intelligence inherent in humans for planning, decision-making, improved communication and processing...
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REC Achieves ISO 31000 Certification, a First for India’s Public Sector NBFCs
With this, REC becomes the first public sector NBFC in India to be certified under ISO 31000, marking a new milestone in institutional risk governance. Government-owned non-banking financial company REC Ltd has received ISO 31000:2018 certification for its enterprise-wide risk management framework. The achievement makes REC—a Maharatna PSU—the first Indian public sector NBFC to attain...
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REC Wins Leading CSR and Sustainability Award for Healthcare Support
REC, a Maharatna central public sector enterprise (CPSE) and a leading non-banking finance company under the Ministry of Power, has been conferred with the Corporate Social Responsibility & Sustainability Award 2024 in the category of ‘Excellence in Providing Support to Healthcare’ by the industry chamber ASSOCHAM. The award was presented during the sixth edition of the...
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REC Reports Strong Profit Growth
Power sector financier, REC, has reported a robust profit after tax of Rs.157.13 billion for the financial year ended March 31, 2025, driven by strong growth across all verticals, recalibration of interest rates on loan assets, and effective financial cost management. Earnings per share rose to Rs.59.55, up from Rs.53.11 in the previous year. The...
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REC Profit at ₹15,713 crore for FY25
REC RECOMMEDS FINAL DIVIDEND OF ₹ 2.60 PER SHARE The Board of Directors of REC Limited, today approved the audited standalone and consolidated financial results for the year ended March 31, 2025. Operational and Financial Highlights: Q4 FY25 vs Q4 FY24 (Standalone) – Disbursements: ₹45,538 crore Vs ₹39,374 crore, up by 16% – Net interest income: ₹5,876 crore Vs ₹4,263 crore,...
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REC Foundation Commits ₹6 Crore to Sankara Eye Hospital for Cataract Surgeries Benefiting 8,000 EWS Patients
Chennai, February 18, 2025: REC Limited, through its CSR arm, REC Foundation, has signed a Memorandum of Association (MoA) with Sankara Eye Hospital, Pammal, Chennai wherein REC committed ₹6.00 Crore for the project ‘Eye Care for All’ – an initiative to provide support to 8,000 beneficiaries for cataract surgery. The MoA was formalized on February 17,...
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REC wins Gold Shield in ICAI Award for Excellence in Financial Reporting for the Financial Year 2023-24
REC Limited, a Maharatna Public Sector Enterprise and a leading NBFC- IFC under the Ministry of Power, Government of India, has been awarded ‘Gold Shield’ under the ‘Financial Services Sector (Other than Banking and Insurance)’ category ‘ICAI Awards for Excellence in Financial Reporting for the financial year 2023-24’. The prestigious recognition reflects the commitment of...