M/s Maharashtra State Electricity Transmission Company Limited emerged as the successful bidder through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of Maharashtra’s intra-state transmission project on a Build, Own, Operate and Transfer (BOOT) basis.

The SPV was handed over by Shri Ratnesh Kumar, General Manager (Engg.), RECPDCL, to Ms. Vineeta Shriwani, Company Secretary, and Shri Amit Naik, Chief Engineer (TBCB), Maharashtra State Electricity Transmission Company Limited, in the presence of senior officials from Maharashtra State Electricity Transmission Company Limited, Maharashtra STU, and RECPDCL.

The project broadly envisages establishment of a 400/132 kV substation at Jalna and about 135 km of 132 kV double-circuit transmission lines from Jalna (New) to Jalna MIDC, Jalna (New) to Partur, and Jalna to Ghansawangi & Utwad, along with associated works. The project is scheduled for implementation over 24 months at an estimated cost of Rs. 912 crore.

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During the same high-profile event, Shri Jitendra Srivastava also participated in the official launch of the brand-new logo for the PM-Surya Ghar Muft Bijli Yojana. This new logo is set to serve as the official visual identity of the central scheme, which is dedicated to bringing clean solar energy into millions of Indian households. By scaling up eco-friendly installations across the country, the ongoing mission focuses on securing sustainable, cost-effective, and affordable electricity access for residents nationwide.

To hear more about the company’s strategic financial and execution vision for clean energy projects, you can watch this [Keynote Address by Jitendra Srivastava, CMD of REC Limited](https://www.youtube.com/watch?v=WJUdv2ZutlI) on YouTube.

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M/s Resonia Limited emerged as the successful bidder through Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for development of the transmission project on Build, Own, Operate & Transfer (BOOT) basis.

The SPV was handed over by Smt. Monisha Barua, GM & HoD, RECPDCL to Sh. Tushar Chhabra, Head (Business Acquisition), Resonia Limited in the presence of Managing Director, KPTCL, Senior Officials of RECPDCL and Officials of Karnataka Power Transmission Corporation Limited. The implementation period of the project is 24 months.

The scheme broadly covers establishment of 400/220/33 kV GIS sub-station at Hampapura, 400 kV Double Circuit line of around 299 km from Jagalur to Kadakola, 220 kV Double Circuit line of around 125 km from Hampapura to Nagamangala, Maddur, Tubinakere & Huygonahalli and LILO of 400kV DC Quad moose line from Jagalur-Kadakola to proposed 765/400kV CN’Halli Station, along with other associated works.

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The award was received on behalf of REC by Shri Alok Kumar, CPM, REC Regional Office, Mumbai, during the award ceremony.

This recognition reflects REC’s continued commitment towards responsible financing, sustainable growth, and operational excellence. It also underscores the organisation’s unwavering dedication towards contributing to nation-building initiatives, maintaining stakeholder trust, and delivering long-term value across the financial ecosystem.

REC has consistently played a pivotal role in supporting India’s power and infrastructure development through innovative financial solutions and strategic investments aligned with the nation’s growth priorities.

The accolade further reinforces REC’s position as one of India’s leading NBFCs committed to excellence, transparency, and sustainable development.

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A MoA in this regard was signed recently at REC Corporate Office, Gurugram, between Shri Arun Kumar Tyagi, Executive Director (CSR), REC Limited and Shri Ashutosh Dutt Sharma, CEO, IHFC (IIT Delhi).

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Driving Global Discourse: Three Strategic Sessions

REC is convening three distinct sessions to address the intersection of artificial intelligence, energy transition, and infrastructure financing:

●      Global Mission on AI for Energy (February 16 – 16:30 to 17:25 hrs, L2 Audi I): Partnering with the International Solar Alliance (ISA), this session focuses on building “AI-ready” and “citizen-ready” power systems. It aims to align leadership on high-impact use cases that make clean electricity more affordable and inclusive.

●      The AI-Energy-Finance Trifecta (February 17 – 10:30 to 11:25 hrs, Room no 10): In collaboration with the World Bank, REC will examine the rapid expansion of energy-intensive data centers. The discussion will focus on the policy and financing foundations needed to unlock AI-driven energy optimization and resilient, green data-center development in India.

●      India Energy Stack (IES) and the AI-Ready Power Sector (February 18 – 11:30 to 12:25, West wing room 4 A): Partnering with FSR Global, this session explores the India Energy Stack as a common, interoperable digital layer for the power sector. The discussion will center on how this digital public infrastructure can lower integration costs and enable a shift from “energy access” to “energy agency” for consumers.

Empowering Consumers: Launch of Peer-to-Peer (P2P) Energy Trading A major highlight of the summit will be the launch of a Peer-to-Peer (P2P) energy trading program during the India Energy Stack session. This initiative is designed to transform consumers from passive recipients of electricity into active market participants. By leveraging secure, interoperable digital protocols, P2P trading will allow neighbors to buy and sell surplus solar energy directly among themselves, fostering a decentralized energy ecosystem and providing new monetization opportunities for households and small businesses.

A Hub of Innovation: The REC Pavilion

REC Limited will demonstrate its commitment to a digital-first energy landscape at its 140 sq m pavilion located at First Floor, Hall 4 (4F.19). Visitors can explore various AI-driven solutions designed to enhance grid efficiency, improve utility performance, and support India’s transition toward a smarter, greener energy future.

Through these initiatives, REC Limited continues to lead the charge in integrating advanced technology with robust infrastructure to power a sustainable and digitally empowered India.

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Delhi, January 29, 2026: The Board of Directors of REC Limited, today approved the limited reviewed standalone and consolidated financial results for the quarter and period ended December 31, 2025.

Operational and Financial Highlights: 9M FY26 vs 9M FY25 (Standalone)

– Net Profit: ₹12,920 crore Vs ₹11,477 crore, up by 13%

– Net interest income: ₹15,677 crore Vs ₹14,191 crore, up by 10%

– Revenue from operations: ₹44,641 crore Vs ₹40,752 crore, up by 10%

– Total income: ₹44,781 crore Vs ₹40,805 crore, up by10%

– Net credit-impaired assets reduced to 0.20% from 0.74%

– Disbursements: ₹1,65,458 crore Vs ₹1,45,647 crore, up by 14%

– Sanctions: ₹3,33,354 crore Vs ₹2,71,814 crore, up by 23%

REC is able to maintain its spread at 2.73% and NIM at 3.52%. As a result, the Annualised Earnings Per Share (EPS) for the period ended December 31, 2025 accelerated by 13% to ₹65.42 per share as against ₹58.11 per share as at December 31, 2024.

The loan book has maintained its growth trajectory on sustainable basis at ₹5.82 lakh crore against ₹5.66 lakh crore as on December 31, 2025.

As an outcome of continuous endeavour to improve the term loan portfolio (excluding RBPF and Stage-3 loan assets) of the Company, has grown by 10% on Y-o-Y basis. As a result, the RBPF loan book and stage-3 loan assets have reduced by 55% and 54% respectively in the same period.

Indicating the ample opportunity to support the future growth, the Capital Adequacy Ratio (CRAR) of the Company stands at a comfortable 24.26% as at December 31, 2025. Aided by growth in profits, the Net Worth has grown by 13% on Y-o-Y basis to ₹86,262 crore as on December 31, 2025 from ₹76,502 crore.

Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has declared the third interim dividend of ₹ 4.60 per equity share (on face value of ₹10/- each) with this total interim dividend for the financial year 2025-26 is ₹13.80 per share.

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REC Limited, a Maharatna Company under the Ministry of Power, is proud to announce that Shri Awanish Kumar Bharati, General Manager (Finance), REC Limited, has been conferred with the prestigious ICPA Treasury Excellence Award in recognition of his exceptional achievements and leadership in the field of Treasury Management.

The award was presented during the National Finance Conclave and Awards 2026, held at the iconic Vigyan Bhawan, New Delhi. The honour was bestowed upon Shri Bharati by Smt. Meenakshi Lekhi, Former Minister of State for External Affairs, and Dr. Harsh Vardhan, Former Minister of Environment, Forest and Climate Change (MOEFCC), in the presence of eminent leaders from the finance, banking, and policy-making fraternity.

The ICPA Treasury Excellence Award is regarded as one of the most respected recognitions in the finance domain, celebrating professionals who demonstrate outstanding expertise, strategic vision, and impactful leadership in treasury and financial management.

REC Limited remains committed to fostering professional excellence and continues to support initiatives that strengthen India’s financial and power sector ecosystem.

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Led by our CMD and both Functional Directors, the session saw enthusiastic participation from all employees in our Corporate Office & Regional Offices – providing a common platform for collective reflection, strategic thinking, and collaborative growth.

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