SKOCH Award Nominee
Category: Excellence in Response to COVID-19
Sub-Category: PSU – COVID-19 Response
Project: Project for Relief Activities During COVID-19
Start Date: 24 March 2020
Organisation: Power Finance Corporation Limited
Respondent: Mr Raghupatruni Murahari
Voting has been closed for this project. Thank you for participating!
POWER FINANCE CORPORATION
Shri Ravinder Singh Dhillon
CHAIRMAN AND MANAGING DIRECTOR
Telephone No.: 011-23456941
Incorporated on July 16th, 1986, Power Finance Corporation Ltd. is a Schedule-A Navratna CPSE, under the administrative control of the Ministry of Power. PFC was conferred the title of a ‘Navratna CPSE’ in June, 2007, and was classified as an Infrastructure Finance Company by the RBI on 28th July, 2010.
The Company was incorporated at a time when there was an urgent need to boost the power sector of the country. The Long Term Vision of the Government of India involved the setting up of numerous Power Projects over India, in order to ensure that the increasing Power demands of a rapidly developing country would be realized. This rapid expansion would involve incredibly large capital expenditures, prompting the establishment of a financial organization that would work as a catalyst in not just the funding of such projects, but also in the streamlining of processes involved in getting such projects off the ground. This entity would need to interface directly with its borrowers, ensuring that they got funds on time, as well as maintain their own sustainability. This would involve everything from identifying both domestic and international sources of fuel, upgrading the skills of all the stakeholders in such a massive operation, and to come up with innovative financial instruments and services for the power sector, in order to maximize the rate of return.
PFC, with its vast and specialized knowledge in the Power Sector, stands ready and willing to support its clients to ensure greater returns for all parties involved. This experience allows for the Company to make tailor-made solutions for each individual client, keeping varied circumstances and limitations in mind. The Company is also continuously evolving, branching out into related spheres and ventures. Prime example of this evolution is the wholly-owned subsidiary PFC – PFC Consulting Ltd. which is now well on its way to becoming incredibly successful businesses in its own right. Establishing these subsidiaries ensures that PFC is fully prepared to tackle the changing face of the Power Sector of India well into the future.
Besides the subsidiaries, PFC has established other ventures to fully utilize the opportunities available in the Power Sector. These Strategic Business Ventures include – apart from Conventional and Consortium lending to Generation, Transmission and Distribution projects – Lending to Power Equipment Manufactures and Fuel Producers and Suppliers in India and abroad, Equity Funding, Nuclear Energy Funding, establishing Power Exchanges and Acquisition Advisory Services.
PFC’s great work has been recognized by the Government of India, which has appointed the Company as the Nodal Agency for its most critical Power Sector initiatives – the Ultra Mega Power Projects, the Restructured – Accelerated Power Development and Reform Programme and the Independent Transmission Projects. Through its expertise, and that of its subsidiaries and Business Units, PFC continues to stand at the forefront of India’s march towards becoming a leading company of the world.
The FY 2019-20 was the first full financial year post the successful acquisition of Government of India’s 52.63% equity stake in REC by PFC. PFC Group performed remarkably in the last year disbursing more than Rs.1.4 lakh Crores.
PFC is now the largest Central Public Sector Enterprise in terms of the balance sheet size. The Company is also slated to be the fifth highest profit making Central Public Sector Enterprise in terms of consolidated PAT for the year 2019-20. Forbes has ranked the Company in the top 250 best employers worldwide in its ranking for 2019, which also makes it among top 20 best employers in India. On a consolidated level, PFC would make it among the ‘Top 500 Global Public Companies’ in terms of the profit and asset size.
On the business front, the just concluded financial year saw some significant landmarks for PFC. The Company has recorded its highest ever disbursements for 4th year in a row, with this year’s loan disbursements almost touching Rs.68,000 Crore. The loan assets also crossed the Rs.3.5 lakh Crore milestone and saw a robust growth of 10% during the year.
For more information, please contact:
Mr Raghupatruni Murahari, Executive Director (CSR &SD) at firstname.lastname@example.org
(The content on the page is provided by the Exhibitor)