May 30, 2012
Power Grid Corp is planning a capex of Rs 20,000 crore in the current fiscal. “We plan to spend around Rs 20,000 crore during this fiscal,” Power Grid Chairman and Managing Director R N Nayak told reporters.
For the full year, the standalone net income stood at Rs 3,254.95 crore, higher by 20.69 percent over Rs 2,696.89 crore, while consolidated net profit rose to Rs 4,689.66 crore for FY12, as against Rs 3,829.29 crore last year.
The Navratna company has planned a capex of nearly Rs 100,000 crore over the next five years.
“Of this Rs 1-lakh crore capex, we will be spending around Rs 20,000 in this fiscal,” Nayak said, adding, “we will be utilising this entire amount for strengthening the transmission network.”
On raising funds, he said 75 percent would be through debt and the remaining through equity. “Nearly three-fourths of the debt are raised through domestic institutions. We will also be looking at various other options, including external commercial bonds, for raising funds.”
Power Grid’s current debt stood at Rs 53,402 crore.
Nayak said that with a projected generation of 6,200 mw through Central agencies, 3,800 mw via independent power producers and 1,600 mw through ultra mega power projects, there is a huge scope for Power Grid for laying network.
The company plans to add 11,000 circuit kilometre (ckm) network, 45,000 mva (mega volt ampere) and over 20 substations during the year for meeting evacuation requirements, he said.
“With the help of our in-house expertise in various areas of transmission, sub-transmission, distribution and telecom sectors, we have been able to establish our foothold as a consultancy service provider in seven countries.
“We are bullish about this business and we will continue to focus on all the SAARC countries as well as the Gulf and African markets,” Nayak said.
The company is currently present in Afghanistan, Bhutan, Bangladesh, UAE (Dubai), Nepal, Sri Lanka and Nigeria.
On the telecom business, Nayak said, “we have a network of about 25,000 km providing back-bone connectivity to all the metros, major cities and towns, including remote areas of J&K, Punjab and Himachal and offering value added services to prime telcos and Government organisations.”