FM Nirmala Sitharaman grants 'Navratna' status to four CPSEs

02 Sep 2024 CW Team

SECI, a leader in renewable energy development, celebrated its 13th anniversary with this recognition. The company has a cumulative awarded capacity of 69.25 gigawatts (GW) and an annual power trading volume exceeding 42 billion units. SECI also reported a consolidated annual turnover of Rs 131.18 billion for FY 2023-24, a 20.85% increase from the previous year, and a Profit After Tax (PAT) of Rs 5.10 billion, marking a 34.89% growth. The Navratna status will provide SECI with greater financial and operational autonomy, enhancing its growth through improved agility, geographical expansion, and technological focus.

The Department of Public Enterprises (DPE) highlighted Railtel's annual turnover of Rs 26.22 billion and a net profit of Rs 2.46 billion for FY 2023-24. With its new status, Railtel becomes the 23rd Navratna CPSE.

NHPC, another CPSE under the Ministry of Power, reported an annual turnover of Rs 84.05 billion and a net profit of Rs 37.44 billion for FY 2023-24. Meanwhile, SJVN, also under the Ministry of Power, achieved an annual turnover of Rs 28.33 billion and a net profit of Rs 9.08 billion for the same period.

To qualify for Navratna status, a CPSE must be a Miniratna I, Schedule 'A' company with 'excellent' or 'very good' MOU ratings in three of the last five years and must score 60 or above in six selected performance indicators. The Navratna scheme, introduced in 1997, aims to identify and support CPSEs with the potential to become global giants by granting them greater autonomy in areas like capital expenditure, investments, mergers and acquisitions, and human resources management. (Business Standard)

On August 30, 2024, Union Finance Minister Nirmala Sitharaman approved the elevation of four Central Public Sector Enterprises (CPSEs) to 'Navratna' status. The companies granted these statuses are Railtel Corporation of India, Solar Energy Corporation of India (SECI), Satluj Jal Vidyut Nigam (SJVN), and National Hydroelectric Power Corporation (NHPC), bringing the total number of Navratna CPSEs in India to 25. SECI, a leader in renewable energy development, celebrated its 13th anniversary with this recognition. The company has a cumulative awarded capacity of 69.25 gigawatts (GW) and an annual power trading volume exceeding 42 billion units. SECI also reported a consolidated annual turnover of Rs 131.18 billion for FY 2023-24, a 20.85% increase from the previous year, and a Profit After Tax (PAT) of Rs 5.10 billion, marking a 34.89% growth. The Navratna status will provide SECI with greater financial and operational autonomy, enhancing its growth through improved agility, geographical expansion, and technological focus. The Department of Public Enterprises (DPE) highlighted Railtel's annual turnover of Rs 26.22 billion and a net profit of Rs 2.46 billion for FY 2023-24. With its new status, Railtel becomes the 23rd Navratna CPSE. NHPC, another CPSE under the Ministry of Power, reported an annual turnover of Rs 84.05 billion and a net profit of Rs 37.44 billion for FY 2023-24. Meanwhile, SJVN, also under the Ministry of Power, achieved an annual turnover of Rs 28.33 billion and a net profit of Rs 9.08 billion for the same period. To qualify for Navratna status, a CPSE must be a Miniratna I, Schedule 'A' company with 'excellent' or 'very good' MOU ratings in three of the last five years and must score 60 or above in six selected performance indicators. The Navratna scheme, introduced in 1997, aims to identify and support CPSEs with the potential to become global giants by granting them greater autonomy in areas like capital expenditure, investments, mergers and acquisitions, and human resources management. (Business Standard)

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..