1st significant development last FY 2018-19 was acquisition of REC
PFC has successfully completed the acquisition of REC Ltd. As regards the consolidated numbers for FY 2018-19 post PFC acquisition of REC is concerned
- Consolidated loan asset book is at Rs. 5,95,877 Crs
- Net profit is at Rs. 12,640 Crs
- CRAR is at 16.78%
- Networth is at Rs. 63,484 Crs
Based on consolidated financial numbers:
- PFC is the leading & the largest financial player for power sector funding
- PFC is India’s 2nd highest profit-making financial organisation (behind HDFC Bank)
- PFC is India’s 3rd highest profit-making PSU on consolidated basis
- Further, post-acquisition, PFC continues to maintain its domestic and international credit rating
- Post acquisition, the capital adequacy continues to be above 17% as against 15% prescribed by RBI
- Thus, with its focussed approach, PFC has been able to effectively manage the immediate fallout of acquisition
- PFC believes that with acquisition of REC, it is poised for higher growth rate
