REC signs MoU with PFC for FYs 2023-24 and 2024-25

11 Sep 2023 CW Team

REC signed a Memorandum of Understanding (MoU) with PFC as per the DPE performance evaluation system for FYs 2023-24 and 2024-25 for CPSEs. Vivek Kumar Dewangan, CMD, REC signed the MoU for FYs 2023-24 and 2024-25 with Parminder Chopra, CMD, PFC, in the presence of directors and other senior officials from both REC and PFC. As per the MoU, REC is targeting revenue from operations of Rs 469.35 billion in FY 2023-24 and Rs 563.22 billion in FY 2024-25.

REC, a Maharatna CPSE, is an NBFC focussing on power sector financing and development across India. Established in 1969, REC has completed over 54 years in the area of its operations. It provides financial assistance to complete the power-sector value chain for various types of projects including generation, transmission and distribution and renewable energy. Recently, REC has also diversified into the non-power infrastructure and logistics sector to cover areas such as airports, metro, railways, ports, bridges, etc. PFC, a Maharatna CPSE, has a majority shareholding in REC. Both REC and PFC are under the administrative control of the Ministry of Power, Government of India.

Real Estate

05 May 2026

Dubai Real Estate Sales Reach AED48 Billion

Dubai’s real estate market recorded 13,977 sales transactions worth AED48 billion in April 2026, reflecting continued resilience across residential and commercial segments.According to a market update by fäm Properties, sales volume rose 3.5 per cent month-on-month compared to March, while total sales value increased by 10.7 per cent. The commercial sector, including offices and shops, recorded the strongest growth, with 561 transactions valued at AED4 billion, up 33.9 per cent year-on-year and 36.2 per cent month-on-month.Apartment sales rose 6.5 per cent month-on-month to 11,377 transacti..

Casagrand Launches 35-Acre Hyderabad Project

Casagrand has launched Casagrand Vybe, its largest residential project in Hyderabad, spread across 35 acres in Rajendra Nagar. The launch marks the company’s fifth residential rollout in 2026 and strengthens its expansion momentum in the city.As part of its Hyderabad growth strategy, Casagrand is adding 3.98 million sq ft of residential space to its portfolio. Since entering the Hyderabad residential market in 2023, the company has scaled its presence with projects across key micro-markets. In 2025, it launched four projects — Casagrand Evon, Casagrand Windsor Court, Casagrand Belair and C..

Bentley Event Spotlights AI Infrastructure

Bentley Systems recently hosted Illuminate Mumbai 2026, bringing together infrastructure leaders, policymakers, technology experts and academia to discuss how AI-driven engineering and digital twins can accelerate India’s journey towards Viksit Bharat 2047.The event focused on scaling intelligent and connected infrastructure ecosystems beyond digital adoption. Discussions covered the use of infrastructure AI, open data environments and digital twin technologies to improve project delivery, sustainability and long-term asset performance across key sectors.Kamalakannan Thiruvadi, Regional Exec..