Reliance Infrastructure Limited
Presentation to Shareholders and Investors
December 2025
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Contents
A. Reliance Group- Overview |
B. Reliance Infrastructure- The Platform |
C. New Growth Engines |
D. Board, Leadership & Governance |
A Reliance Group
From Strong Foundations to a Sharper FutureReliance Group: Powering Growth in Critical National Building Sectors
From lights in Delhi to metros in Mumbai and defence systems for tomorrow - our businesses anchor India's infrastructure and energy resilience
Reliance Infrastructure
Portfolio of marquee projects in critical sectors
Power Distribution
2 Discoms in Delhi;
Largest Private Discom in India Powers 2/3rd of Delhi
~5,700 MW peak power demand
Defence Manufacturing
Partnership with Thales, Dassault, Rheinmetall AG and Diehl Defence
Transportation
Mumbai Metro-Line 1; 8 Road projects
Reliance Power
Portfolio of 5,300 MW of power generation assets
5,160 MW Thermal Power Projects
3,960 MW Sasan, 1,200 MW Rosa Power
140 MW Solar Power Projects
Renewable
~4,000 MW Renewable projects
~6,500 MW BESS1Projects
~770 MW Hydro Projects
Presence in India
~₹23,550 Crore
Market Cap. (30.11.2025)
₹ 16,400 Crore+
Revenue as on Sep' 25 (H1FY26)
Combined Stats of Reliance Infra and Reliance Power
Others
Defence
Energy
(1) BESS - Battery Energy Storage System
(New projects awarded)
Power Distribution
Utilities (2) Solar Power
Mumbai Metro Road, Pune (1)
Road, Faridabad (1)
Defence
~₹ 111,000 Crore
Asset Base as on Sep' 25
₹ 33,400 Crore+
Net Worth as on Sep' 25
Roads, Tamil Nadu (6)
Rosa Power
Sasan Power
30,000+
Employees
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Resurgent Reliance Group: Stronger, Sharper & Future-Ready
Resurgent Reliance
Stakeholder Value creation:
Deliver sustainable cash flows that fund consistent dividends and long-term growth.
Leadership Capital:
Harnessing the strength of proven leaders and invest in right team to deliver resilience and growth.
Governance & Discipline:
Ring-fenced structures to protect capital, de-risk the balance sheet, and ensure integrity of returns
Growth Alignment:
Align with India's policy priorities such as Atmanirbhar Bharat unlock long-term demand
Value creative allocations:
Disciplined capital allocation into India's $5T growth engines -renewables and defence - driving sustainable value creation
Clear Vision:
Transformative journey to emerge as a leading player in India's Viksit Bharat roadmap
Our Themes of Transformations
Principles
A focused transformation driven by clear vision, disciplined capital allocation, and renewed leadership - positioning Reliance for sustainable, long-term value creation
Revitalize- Core Businessess: Strengthen and expand the foundation for sustainable profitability. |
Reorient- Portfolio reset: Exit non-core plays and restructure business to create value. |
Reinvent- Growth engines: Ignite next-gen platforms as multi-bagger growth catalysts. |
Relearn- Learnings from Past: Institutionalize lessons to derisk balance sheet, ring-fenced structure to protect capital. |
Renew- Leadership, Governance: Embed world-class leadership and governance discipline for long-term value |
Recharge- Capital Infusion: Strengthen the balance sheet and fuel growth with fresh capital. |
Reliance Group: Aligned with India's Growth Vision, Driven by a Shared Future
Tapping into India's $5 Trillion growth agenda - driving clean energy, defence self-reliance, and technology-led manufacturing through focused, high-impact platforms
India Vision 2030
Atmanirbhar Bharat - Driving Clean Energy Security and Defence Self-Reliance for a Resilient Future
Reliance Vision
Making Bharat Atmanirbhar in Clean Energy and Defence
Energy
250 GWh
Battery Storage by 2030
Annual addition of 50 GWh
500 GW
Electricity Capacity (Non-fossil fuels)
16% CAGR
(2025-2030)
280 GW
Solar Energy
20% CAGR
(2025-2030)
Be a value player in India's energy transition by advancing renewables.
Be a leading player in battery manufacturing, delivering grid-scale storage solutions for India's energy transition through best-in-class global partnerships.
Defence
₹3 lakh Crore
Domestic Defence Production
11% (5-Year CAGR)
₹50,000 Crore Annual Export Target 19%(5-Year CAGR)
Build a dominant presence in key defence segments, expanding global market reach through strategic partnerships while strengthening India's strategic autonomy.
B The Platform
Strong Foundation Play with Deep Value Potential UnlockReliance Infrastructure: Overview and Holding structure as on September 30, 2025
Balanced portfolio spanning essential utilities, mobility, renewables, and defence - poised for capital unlocking and reinvestment-led growth
Infra+ Utility (Legacy Core)
Manufacturing (New Growth Engine)
Exit plan by FY-26 to free up capital
Legacy + Growth Engine
Power Distribution Utility
Metro
Roads
Defence
Renewables
(51%)
(74%)
(100%)
(51%)
(49%)
(100%)
(100%)
(100%)
(100%)
Reliance Infrastructure
Ammunitions & Explosives
Zetta Solartech
DRAL
TRDS
Battery Greentech
Zetta Solar
MMOPL
BSES Rajdhani & BSES Yamuna
8 road SPVs
Reliance Power
(~24.98%)
MMOPL: Mumbai Metro One Private Limited | TRDS: Thales Reliance Defence Systems (TRDS) | DRAL: Dassault Reliance Aerospace Limited | JAL: Jai Ammunition Limited | RDL: Reliance Defence Limited 9
Reliance Infrastructure: Powering, Connecting and Securing India
Revitalise Core Businesses
From Delhi's power grids to India's next-gen defence manufacturing - a diversified infrastructure platform driving resilience and national capability.
Power Distribution
Largest private discom in India; Powering 2/3rd of Delhi
5.3 Million+ ~5,700 MW
Customers Peak demand Served served
~6.1%
AT&C Losses (reduced from 56%)
Future-ready, technology-driven utility - anchored in digital efficiency, green power, and predictable long-term
returns
Defence Manufacturing
Strategic Tie-ups with 4 Global Defence Majors for local manufacturing
Rafaele assemblies, Falcon 2000 business jets Final Assembly Line (1st outside France)
Advanced radar, electronics, PBL, Navaids
Ammunition & Explosives, Terminally Guided Munition
MRO Capability Hub
Expansion driven by own funds and diversification into new manufacturing segments via partnerships
~₹30,000 Crore
BSES Approved Regulatory Assets
Mumbai Metro
Mumbai's 1st Metro line (Line 1), in partnership with MMRDA under PPP
11.4 km
Operational Length
5 Lakh+
Average Daily Ridership
110 Crore+
Ridership since inception
NARCL-led Restructuring and operational scale-up to
drive equity upside
Roads
Stable cash-generating portfolio of 8 toll roads
2,472 lane km ₹2.57 Crore 2.85 Lakh+
Under management Average Daily Toll Average Daily
Collection Vehicles Served
Road assets monetisation + Arbitration inflows → Unlock equity for Reliance Infra
₹10,000+ Crore
Across 15+ Arbitration Claims
Reorient - Portfolio Reset
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