RInfra set to become debt-free by next year: Anil Ambani
Mumbai, Sep 18 : Reliance Infrastructure (RInfra) Chairman Anil Ambani on Tuesday said he expects the company to become debt-free by next year with the best credit ratings to match following the sale of its Mumbai power business to Adani Transmission for Rs 18,800 crore earlier this year.
Addressing the company's annual general meeting here, Ambani said RInfra is on track to transform into a capital-light, high-growth, high-dividend company that will create more value for shareowners.
"We fully expect to be zero-debt by next year, with top-end credit ratings to match," the Chairman said.
"This year, we have successfully concluded the sale of our integrated Mumbai power business for a total consideration of Rs 18,800 crore -- the largest-ever quantum of debt reduction in the history of India's power sector."
This single transaction will help the company reduce its debt by 65 per cent, from around Rs 22,000 crore to Rs 7,500 crore.
Ambani said that defence, which has limited private sector participation in India, is a focus area for the company and would become the key business of the group in some years.
"We have entered into multiple partnerships with leading OEMs (original equipment manufacturers) from across the world, building a technology platform that is set to transform defence into one of our fastest growing verticals in the next 5 years," he said.
Speaking of the company's Delhi distribution business which distributes peak power of 5,000 MW and has a growth rate of over 5 per cent, Ambani said the debt of Delhi discoms has come down by 80 per cent, from a peak of Rs 8,000 crore to Rs 1,500 crore.
"Delhi discoms have reduced their AT and C (aggregate technical and commercial) losses from 57 per cent to just 9 per cent - the best performance across the distribution ecosystem in India," he said.
Ambani informed the AGM that the company has already won arbitration awards worth Rs 6,300 crore against various government agencies which are yet to be paid out, while arbitrations of another Rs 8,000 crore under advanced stages of approval.
"It is an unfortunate fact of doing business in India that despite amendments to the Arbitration Act by the Central government and clarity from the Supreme Court in multiple judgments, many government entities continue to drag their feet on arbitration award payouts to the detriment of shareholder interest," the Chairman said.
RInfra, the operator of the Mumbai Metro, has bagged the contract this year for the Versova-Bandra Sea Link project, which the Chairman described as "the largest urban infrastructure project in the country and represents our deep commitment to the city and people of Mumbai".
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Four astronauts return after historic lunar flyby, NASA now eyes landing on moon
Washington (PTI): Amid claps and cheers, four astronauts of NASA’s Artemis-II mission splashed down in the Pacific ocean after a historic flight to the moon – the first by humans in more than 50 years.
“The path to the moon is open but the work ahead is greater than the work behind,” Amit Kshatriya, Indian-origin NASA Associate Administrator told a press conference shortly after the Artemis-II crew returned to earth off the coast of San Diego at 8:07 eastern time on Friday.
The lunar flyby mission involving Commander Reid Wiseman, pilot Victor Glover, Christina Koch and Canada's Jeremy Hansen was the first journey to the moon since the Apollo 17 mission in December 1972 when Eugene Cernan and Harrison Schmitt spent three days exploring the lunar surface.
Rick Henfling, the flight director, said the Artemis II astronauts are “happy and healthy and ready to come home to Houston.”
Artemis II was the first crewed mission to utilise NASA’s Space Launch System rocket and Orion crew module — demonstrating that the agency’s equipment can propel astronauts out of Earth’s orbit and bring them safely home.
"Yesterday, flight director Jeff Radigan said we had less than a degree of an angle to hit after a quarter of a million miles to the moon," Kshatriya told reporters.
"And their team hit it. This is not luck; that is 1,000 people doing their job," he said.
The mission flew 700,237 miles; its peak velocity was 24,664 m.p.h.; and the flight had an entry range of 1,957 miles but landed within one mile of its target, Henfling said.
NASA now aims to land humans on the moon where the space agency also plans to set up a habitat that would be the launchpad for future missions to Mars and beyond.
It was a triumphant homecoming for the crew of four whose record-breaking lunar flyby revealed not only swaths of the moon's far side never seen before by human eyes but a total solar eclipse.
They emerged from their bobbing capsule into the sunlight one by one.
Henfling said his team 'breathed a sigh of relief' once the side hatch opened on the Orion Integrity after it splashed down in the Pacific Ocean.
"We all breathed a sigh of relief once the hatch opened up, that's when we brought the team in," he said.
"We said a few words to the flight controllers, and then we turned around to the families and waved and gave them a thumbs up, and we all watched as each of their four astronauts got out of the spaceship and were hoisted up onto the helicopters. It was a great day," he added.
Henfling said his team felt "anxiety" as the four astronauts re-entered the Earth's atmosphere, but felt confident in all their training leading up the history-making lunar mission.
NASA said the Artemis III mission is "right around the corner" following its history-making journey around the moon.
"The next mission is right around the corner, and you know, we'll take the lessons learned from Artemis II," Henfling said.
"We learned a bunch on how to fly people in space, both from vehicle operations, but also from how to run a control room with a deep space mission. And when the time is right, we'll get back into specific training, and we've got a core group of about 30 flight directors, and they're all extremely capable.
"I think anybody who's assigned to that next mission is going to be as successful as us," Henfling said.
Amit Kshatriya is serving as the highest-ranking civil servant and a senior advisor to the administrator at NASA. He leads NASA's 10 centre directors, as well as the mission directorate associate administrators. He is also the agency’s chief operating officer.
Kshatriya previously served as the deputy associate administrator for the Moon to Mars Program in the Exploration Systems Development Mission Directorate (ESDMD) at NASA Headquarters in Washington.
LIVE: They are coming home.
— NASA (@NASA) April 10, 2026
Watch as the Artemis II crew returns to Earth, splashing down at around 8:07pm ET (0007 UTC April 11). https://t.co/n3vZE2rcFv
