Shashwat Goenka, Vice Chairman of RPSG Group, discusses the group’s plans for transformation and growth in various sectors. He highlights the infrastructure development and talent attraction in Kolkata, the turnaround of Spencer’s Retail, and the expansion plans for the value and luxury segments. Goenka also discusses the growth of Too Yumm, the opportunities in the BPO industry, the focus on renewable energy, and the transformation of Saregama in the digital era.
Reliance Industries Ltd reported a 9.3% YoY growth in consolidated net profit to Rs 17,265 crore for Q3. The better-than-expected results were supported by strong performances from the digital and retail businesses, which offset weakness in the oil-to-chemicals segment. The company’s quarterly results have exceeded market expectations, providing optimism for investors on Dalal Street.
Reliance Industries Ltd is expected to see year-on-year growth in earnings for the quarter ended December, but the growth is expected to be in single digits due to a weak performance by the oil-to-chemicals business. The digital business, housed under Reliance Jio Infocomm, is expected to have continued its good performance, while the retail business is also expected to have performed well in the last quarter.
ADIA, the Abu Dhabi Investment Authority, is interested in investing $600 million in Mukesh Ambani’s retail empire, Reliance Retail Ventures, at higher valuations than three years ago. Although the current valuation is much higher than before, it still falls short of what equity analysts believe the privately held retail business is worth. ADIA’s potential investment further strengthens the strategic relationship between the two companies, and an official stated that ADIA does not often invest at such premium valuations. Reliance Industries recently valued RRVL at $148 billion when buying out minority shareholders and employees.
