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CESC enters into agreement to acquire two hydro power projects

17 May 2012 Evaluate

CESC, RP Goenka Group Company has entered into agreement with Indiabulls Group to acquire two hydro power projects of 146 MW total capacity in Arunachal Pradesh. The company has acquired 100% stake in Pachi Hydro Power Projects and Papu Hydro Power Projects.

Recently, the company decided to revive the abandoned Balagarh power project in West Bengal at an estimated investment of Rs 10,500 crore.

Currently, the company is executing a 600 MW project at Haldia in West Bengal and a 600 MW Chandrapur power project in Maharashtra.

The company posted a growth rate of 137.5% in net profit for the last quarter of 2011-12 at Rs 266 crore as against Rs 112 crore during the year-ago period. Net sales during the quarter stood at Rs 1,348 crore, registering a rise of 48.5% as compared to Rs 908 crore in the last quarter of the FY11.

CESC Share Price

171.50 0.90 (0.53%)
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