Multinational Conglomerate engaged in the activities of hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials, and many more in focus upon leasing 3,750 Acres of land for a consideration of Rs. 13,400 Crores to develop a Global Economic Hub.
With a market capitalization of Rs. 18, 69,868 Crores, the shares of Reliance Industries Limited were trading at Rs. 2,763.70, down 8.58 percent from its previous day’s close price of Rs. 3,021.25.
Reliance Industries Limited (RIL) entered into an MOU with the Government of Maharashtra in February 2018 to develop a Global Economic Hub consisting of a world-class integrated digital and services industrial area with global partnerships.
Following its earlier intimation, Reliance’s wholly owned subsidiaries have completed the registration of sub-lease deeds for about 3,750 acres of land along with the associated development rights for a period of 43 years for an aggregate consideration of Rs. 13,400 Crores from Navi Mumbai IIA Private Limited, in which City and Industrial Development Corporation of Maharashtra (CIDCO) holds 26 percent.
Reliance Industries Limited has a proven track record of developing large integrated industrial complexes at Hazira, Jamnagar, and Dahej, a fast-growing integrated smart city in the Jhajjar district of Haryana, a state-of-the-art convention center and modern office space at Bandra-Kurla Complex, Mumbai.
Reliance Industries Limited is engaged in the activities of hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables, retail, digital services, and many others.
Its Revenue from operations grew by 10.83 percent from Rs. 2,38,957 Crores in Q4FY23 to Rs. 2,64,834 Crores in Q4FY24, accompanied by profits of Rs. 21,327 Crores to Rs. 21,243 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 9.23 percent, a return on capital employed (ROCE) of 10 percent, and a debt-to-equity ratio of 0.44.
Written by: Bharath K.S
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