Power Finance Corporation Limited (PFC) and REC Limited have received the approval of the Hon’ble President of India for the proposed merger of REC into PFC, according to regulatory filings made by both companies. The Ministry of Power, through a letter dated June 10, 2026, communicated the approval of the competent authority for the proposed…
Power Finance Corporation Limited (PFC), has announced that Shri V. Packirisamy has taken charge as Director (Commercial) on its Board with effect from June 2, 2026. Shri Packirisamy will continue in the role until his superannuation or until further orders, whichever is earlier. He has been associated with PFC since January 1997 and brings more…
Power Finance Corporation Limited (PFC) has informed the stock exchanges that its wholly owned subsidiary, PFC Projects Limited (PPL), has been struck off from the Register of Companies by the Registrar of Companies (RoC), effective June 1, 2026. The action was taken under Section 248 of the Companies Act, 2013, following approvals from the Ministry…
REC Limited and Power Finance Corporation Limited (PFC) have announced that their respective Boards of Directors have approved the proposal for the merger of REC into PFC, subject to the approval of the Hon’ble President of India in accordance with their Articles of Association. In separate exchange filings, both state-owned non-banking financial companies (NBFCs) said…
Power Finance Corporation (PFC) has announced its audited financial results for FY2025-26, reporting growth across its standalone and consolidated loan portfolios while maintaining stable asset quality. On a standalone basis, PFC reported profit before tax of Rs 24,774 crore for FY2025-26. Loan assets outstanding stood at Rs 5,74,018 crore, while total assets reached Rs 6,18,515…
PFC Consulting Limited (PFCCL), a wholly owned subsidiary of state-owned Power Finance Corporation Limited, and REC Limited have incorporated new special purpose vehicles (SPVs) for transmission projects in Maharashtra, Rajasthan, and Gujarat. The developments were disclosed through regulatory filings dated May 8-9, 2026. PFCCL incorporated two wholly owned subsidiaries, Western Ghats PSP Transmission Limited and…
Power Finance Corporation Limited (PFC) has announced the incorporation of Fatehgarh II Transmission Limited as a wholly owned subsidiary of PFC Consulting Limited (PFCCL), which is itself a wholly owned subsidiary of PFC. The special purpose vehicle (SPV) has been formed for the installation of two Synchronous Condenser (SynCon) units at the 765/400/220 kV Fatehgarh-II…
REC Limited has appointed Shri Rajesh Kumar Agarwal, Director (Finance) at Power Finance Corporation Limited (PFC), as PFC’s Nominee Director on its Board with effect from May 1, 2026. The appointment was approved by the Ministry of Power, Government of India, through an Office Order dated May 6, 2026. The induction has been made under…
PFC Consulting Limited (PFCCL) has floated a Request for Proposal (RFP) for the selection of a Transmission Service Provider (TSP) to develop the “Network Expansion Scheme in Western Region to cater to pumped storage potential near Satara (up to 4500 MW) – Part A” under the Inter-State Transmission System (ISTS). The project will be implemented…
The Board of Directors of Power Finance Corporation Limited (PFC) has appointed Shri Rajesh Kumar Agarwal as Director (Finance) on its Board, effective April 23, 2026. He has also been designated as the Chief Financial Officer (CFO) from the same date. The appointment follows an earlier intimation issued on April 23, 2026, confirming that Shri…