When It is By REC, The Future is Electric

Jitendra Srivastava, IAS, CMD, REC Ltd

In the heart of India’s rapidly evolving power and infrastructure landscape, REC Limited stands as a titan, driving the nation’s energy transition and infrastructure growth with unparalleled ambition. As a Maharatna Central Public Sector Enterprise under the Ministry of Power, REC has solidified its position as a cornerstone of India’s electrification and sustainable development goals. Recent developments, ranging from mega investment plans to leadership transitions, bond issuances, and strategic partnerships, underscore REC’s pivotal role in shaping India’s future. Under its new CMD Jitendra Srivastava, REC is destined to leverage its unique position in the power and infrastructure financing sector, to stay ahead as a standout performer in both financial markets and national development.

In April 2025, REC welcomed a new Chairman and Managing Director (CMD), Jitendra Srivastava, a 2000-batch Indian Administrative Service (IAS) officer from the Bihar cadre. Srivastava’s appointment, approved by the Appointments Committee of the Cabinet, marks a significant transition for REC as it diversifies its operations beyond traditional power financing into broader infrastructure projects.

Srivastava brings a wealth of experience from key administrative and leadership roles across sectors such as finance, power, education, public health, and infrastructure. Prior to joining REC, he served as Joint Secretary in the Department of Drinking Water and Sanitation under the Ministry of Jal Shakti, and held critical positions in Bihar’s Home Department and Public Health Engineering Department. 

His academic credentials, including a Bachelor of Arts (Honours) in Economics from Hansraj College, Delhi University, and an MBA in Finance from Cochin University of Science and Technology, equip him with the financial acumen and strategic vision needed to steer REC through its ambitious growth phase.

Srivastava’s appointment comes at a time when REC is expanding its footprint in renewable energy and infrastructure. His diverse experience positions him to navigate the complexities of financing large-scale projects while aligning with the government’s clean energy and infrastructure development goals. Srivastava is poised to lead REC into a new era of innovation and growth.

REC’s recent investment commitments reflect its bold vision to transform India’s infrastructure landscape. One of the most significant developments is REC’s recent Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA), signed during the India Global Forum Mumbai NXT 25 event in 2025.

This landmark agreement pledges Rs 1 lakh crore over the next five years to finance a wide range of infrastructure projects in the Mumbai Metropolitan Region (MMR). The MoU, executed by Harsh Baweja, Director (Finance) at REC, and Dr. Ankush R Nawale, Financial Advisor at MMRDA, focuses on urban mobility, affordable housing, and essential civic infrastructure. 

Maharashtra Chief Minister Devendra Fadnavis and other senior officials witnessed the signing, highlighting its importance to the region’s development. REC’s Rs 1 lakh crore commitment reflects their strong dedication to supporting large-scale infrastructure projects that will significantly improve the living standards for the people of Mumbai Metropolitan Region. 

This partnership also underscores REC’s growing role in urban transformation and sustainable development, beyond its original mandate which is reflected in its earlier name and branding, Rural Electrification Corporation.

Beyond Mumbai, REC has also signed an MoU with the Energy Management Centre (EMC), Government of Kerala, for Rs 18,360 crore in financing for pumped storage projects (PSPs) over the next five years. Signed during the Global Green Hydrogen & Renewable Energy Summit 2025, this agreement aligns with India’s renewable energy goals, particularly in enhancing energy storage to address the intermittency of solar and wind power. 

These investments demonstrate REC’s strategic focus on renewable energy infrastructure, a critical component of India’s commitment to achieving 50% non-fossil fuel-based energy capacity by 2030.

REC’s financing prowess extends to high-impact renewable energy projects, exemplified by its Rs 2,147 crore term loan agreement with Chenab Valley Power Project Limited (CVPPL) for the 1,000 MW Pakal Dul Hydro Electric Project in Jammu & Kashmir. 

Signed on February 11, 2025, this agreement supports the development of a project estimated to cost Rs 12,669 crore, located on the Marusadar River in Kishtwar district. The project is a cornerstone of India’s efforts to bolster renewable energy capacity and energy security in the region.

This follows REC’s earlier commitment of Rs 1,869.265 crore to CVPPL for the 624 MW Kiru Hydro Electric Project, also in Kishtwar. These agreements highlight REC’s critical role in financing hydropower, a renewable energy source that complements India’s solar and wind initiatives. 

By supporting such projects, REC is helping India harness its hydropower potential while fostering economic growth in strategically important regions like Jammu & Kashmir.

To fund its ambitious investment plans, REC has been actively tapping the bond market and expanding its borrowing program. In 2025, the company raised Rs 5,000 crore through two bond issuances - Rs 3,000 crore via five-year bonds at a 6.87% coupon rate and Rs 2,000 crore via 10-year bonds at a 6.86% coupon rate. 

These bonds, listed on the BSE and NSE, received an overwhelming response from investors, reflecting strong confidence in REC’s financial stability and growth prospects. Assigned “AAA” ratings by CARE Ratings, ICRA, and India Rating & Research, the bonds underscore REC’s low credit risk and high investor appeal.

In December 2024, REC had raised Rs 2,195 crore through bonds with tenures of 10 years and four months (Rs 1,620 crore at 7.10%) and 15 years (Rs 575 crore at 7.14%). These issuances demonstrate REC’s ability to secure cost-effective financing to support its expanding loan book.

Looking ahead, REC’s board has approved a revised borrowing plan of Rs 1.8 lakh crore for FY26, up from Rs 1.6 lakh crore. This includes Rs 1.55 lakh crore through domestic bonds, debentures, capital gains bonds, rupee term loans, and external commercial borrowings (ECBs), alongside Rs 10,000 crore in short-term loans and Rs 5,000 crore via commercial papers. 

The flexibility to interchange instruments ensures REC can adapt to market conditions and funding needs, positioning it to sustain its robust loan growth of 15-21% over recent quarters.

REC’s financial performance and strategic initiatives have earned it high praise from analysts. CLSA, a leading brokerage, maintains a “high-conviction outperform” rating on REC, citing its best-in-class loan growth, return on equity (ROE) of 19-20%, and an attractive dividend yield, which now stands around 4%. 

The brokerage highlights REC’s strong sanction pool, with 55% of sanctions from the past 2.75 years still undisbursed, primarily in generation, renewable, and infrastructure segments. This pool supports expectations of double-digit to mid-teen loan growth through FY 26-27.

CLSA also notes REC’s impeccable asset quality, with no slippages since FY22 and gross non-performing assets (NPAs) reduced to 2% as of December 2024, a significant improvement from a peak of 7.2% in the last bad cycle. The company’s cautious approach to financing, primarily targeting government-owned projects, further mitigates asset quality risks. 

Including CLSA, most analysts covering REC have “buy” ratings now. The company’s consistent dividend payouts - Rs 15.4 per share in FY25, including a fourth interim dividend of Rs 3.6 per share - further enhance its appeal to income-focused investors.

REC’s role in India’s power and infrastructure financing sector is unparalleled, driven by its status as a Maharatna company and its 20% market share in power sector financing. Unlike its parent, Power Finance Corporation (PFC), which focuses on large-scale power generation projects, REC specializes in transmission, distribution, and rural electrification, aligning with government initiatives to expand energy access in underserved areas. 

Of REC’s outstanding loans of Rs 5,65,621 crore, 88% are to state entities, with top states including Tamil Nadu, Telangana, and Maharashtra, while 33% of its portfolio is in infrastructure and logistics.

REC’s financing model addresses critical challenges in the renewable energy sector, such as intermittency, grid stability, and land acquisition. By providing long-term loans, bridge financing, and structured financial products, REC mitigates risks associated with high upfront costs and long gestation periods. 

Its support for projects like pumped storage and hydropower aligns with India’s goal of achieving 500 GW of non-fossil fuel-based capacity by 2030, as outlined by the Ministry of New and Renewable Energy.

REC’s parent, PFC, holds a 52.63% stake and is a leading NBFC focused on power generation and infrastructure financing. While PFC’s loan book is larger, REC’s specialized focus on rural electrification and transmission complements PFC’s strengths, creating synergies that enhance their combined impact on India’s power sector. 

The historical trend of external appointments for REC’s top management, including high-caliber professionals like Jitendra Srivastava to the CMD post, ensures fresh perspectives and robust leadership, distinguishing REC from many of its peers.

REC’s financial performance continues to be a proof of its resilience. For Q3 FY25, the company reported an 18.42% year-on-year revenue increase to Rs 14,272 crore and a 23.21% rise in net profit to Rs 4,076 crore. Its loan book growth, low NPAs, and high ROE position REC as a leader among NBFCs. 

The company’s ability to secure AAA-rated bonds and maintain investor confidence further bolsters its financial stability. Strategically, REC is diversifying into non-power infrastructure, as evidenced by its MMRDA partnership, while maintaining its core focus on renewable energy and rural electrification. 

The inauguration of a state-of-the-art Experience Centre in Gurugram recently, showcases REC’s contributions to the power and infrastructure sectors. Featuring digital displays and interactive exhibits, the centre serves as a knowledge hub, reinforcing REC’s commitment to innovation and transparency.

REC Limited is at the forefront of India’s energy and infrastructure transformation, leveraging its financial strength, strategic investments, and visionary leadership to drive sustainable growth. Under Jitendra Srivastava’s guidance, REC is poised to capitalize on its Rs 1.8 lakh crore borrowing plan, mega investment commitments, and robust loan agreements to power India’s renewable energy and infrastructure ambitions. 

With a stock that combines high dividend yields, strong fundamentals, and analyst confidence, REC remains an investment worth considering and a vital partner in India’s journey toward a cleaner, more connected and electric future. Since its IPO and listing in 2008, that is within 17 years, REC has grown investor wealth by more than 30 times.

GRSE is Charting New Waters in Maritime Excellence

Cmde PR Hari, IN (Retd.), Chairman & Managing Director, GRSE

In an era of heightened global geopolitical tensions and surging demand for maritime defense and infrastructure, Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has emerged as a vanguard of India’s shipbuilding might. A trailblazer in naval engineering and maritime innovation, GRSE’s FY25 performance signals its transformation from being a premier warship builder into a multidimensional force advancing India's Atmanirbhar Bharat vision. At the helm of this transformative journey is Cmde PR Hari, IN (Retd.), its Chairman & Managing Director, whose visionary leadership has been widely recognized.

FY25 marked a watershed moment for GRSE, with the company achieving its highest-ever annual turnover of Rs 4,750 crore, a remarkable milestone in its 64-year history. This milestone was not merely financial; rather it was symbolic of a broader operational and strategic resurgence. 

The public sector shipyard, under the Ministry of Defence, declared an interim dividend of 89.5% of the paid-up share capital, up from 79% in the previous year, which is a clear reflection of its robust fiscal health and shareholder value creation.

FY25 was distinguished by the successful commissioning of the INS Nirdeshak, the second in a series of four large survey vessels for the Indian Navy. Commissioned on December 18, 2024, the event marked GRSE’s 110th warship delivery, setting a national benchmark in naval ship construction.

GRSE also completed the Contractor Sea Trials (CST) of two critical platforms on the same day - the Advanced Frigate Himgiri under Project 17A and the Androth, an Anti-Submarine Warfare Shallow Water Craft (ASW SWC). The company has also conducted CST for INS Arnala, another ASW SWC, setting the stage for a new generation of maritime defense assets.

Complementing its defense capabilities, GRSE delivered the Next Generation Electric Ferry 'Dheu', the largest electric ferry built in India, to the Government of West Bengal, and Unmanned Surface Vessel 'Jaldoot' to DRDO's Naval Science & Technological Laboratory, highlighting its prowess in green and unmanned vessel technology.

GRSE has further fortified its pipeline with an order book worth Rs 23,592 crore, comprising prestigious contracts such as the P17 Alpha frigates and ASW SWCs. Its portfolio has broadened to include research and commercial vessels, coastal and ocean surveillance platforms, and advanced offshore patrol vessels.

Among the notable order wins in FY25 are a Rs 490 crore contract with NPOL (DRDO) for an Acoustic Research Ship (ARS), a Rs 840 crore deal with NCPOR for an Ocean Research Vessel, an MoU with the Government of West Bengal for 13 hybrid ferries, and a Rs 590 crore order from the Geological Survey of India (GSI) for two coastal research vessels, and a game-changing $108 million contract with Germany's Carsten Rehder for eight multi-purpose cargo vessels (MPVs), with two of them signed in FY25.

This international order underscores GRSE’s growing stature as a global shipbuilding player and aligns with its ambition to increase export contributions and tap into overseas defense and commercial shipping markets.

To further scale its capabilities, GRSE has entered several strategic tie-ups in this past fiscal. Most noted among them is the MoU with Swan Defence and Heavy Industries Ltd (SDHI), which aims at developing commercial shipbuilding and offshore infrastructure, combining GRSE’s engineering strengths with SDHI’s west-coast shipyard infrastructure.

Earlier, GRSE also entered into a collaboration with Apollo Micro Systems (AMS) to co-develop underwater weapons, vehicles, and air defense systems, strengthening GRSE’s vertical integration in defense technology.

MoUs were also entered into with the Indian Army and NHIDCL for supplying Modular Steel Bridges, marking a push into civil-military infrastructure, as well as a landmark deal with PWD Nagaland for eight double-lane modular bridges, in what is GRSE’s first partnership with a North-Eastern state.

GRSE also entered into a 30-year lease for a new facility in Howrah’s Timber Pond, with Syama Prasad Mookerjee Port (SMPK, formerly Kolkata Port), which will enhance ship repair and engineering output in the long term.

These tie-ups are foundational to GRSE’s future vision for creating an integrated, multi-sectoral ecosystem for defense, research, infrastructure, and civil maritime applications.

At the helm of this transformative journey at GRSE is Cmde PR Hari, IN (Retd.), its Chairman & Managing Director, whose leadership has been widely recognized. In April 2025, he was awarded the CMA Management Excellence Award in Corporate Leadership by the Calcutta Management Association.

Under his stewardship, GRSE has embraced innovation, digital transformation, and operational excellence. His forward-thinking approach has not only accelerated shipbuilding schedules and quality standards but also opened new avenues for exports, collaborations, and research-driven shipbuilding.

Cmde Hari has also actively championed GRSE's role in national self-reliance efforts, consistently aligning with the Government of India’s Make in India and Aatmanirbhar Bharat missions.

In line with its innovation-led culture, GRSE had launched the second edition of the GAINS (GRSE Accelerated Innovation Nurturing Scheme) in 2024, which is a startup support initiative. Two ventures viz.  Cloudmetica Technologies and IIT Guwahati’s Technology Innovation Foundation were selected and funded for pioneering solutions in ship design and green energy.

The scheme attracted over 66 innovation proposals, reaffirming GRSE’s commitment to fostering a culture of indigenous R&D, especially in strategic sectors such as defense shipbuilding and sustainability.

While GRSE is renowned for its warship production which accounts for 89% of revenues, it is increasingly becoming a multi-dimensional engineering powerhouse. It has diversified into Modular Steel Bridges, Deck Machinery, Diesel Engines (manufacturing, overhaul, assembly, and testing), Research and Survey Vessels, and Electric and Unmanned Vessels.

This diversification helps de-risk its business model and allows it to participate in broader nation-building and infrastructure development efforts.

GRSE possesses the capability to build 20 warships concurrently, a unique advantage among Indian shipyards. Its shipbuilding infrastructure has been continually modernized, and the newly leased land from SMPK will bolster long-term capacity expansion.

GRSE’s recently manufactured vessels, from the Project 17A Advanced Frigates to Next Generation Offshore Patrol Vessels (NGOPVs), demonstrate cutting-edge capabilities such as stealth design, dynamic positioning, and advanced propulsion systems.

The keel laying of the fourth NGOPV in April 2025 was another significant milestone. These vessels, designed for anti-piracy, coastal surveillance, and search-and-rescue, further cement GRSE’s role in coastal defense and maritime security.

Reflecting growing investor confidence, GRSE shares have surged over 15% in April 2025, fueled also by the India-Pakistan tensions and heightened expectations of increased defense spending. Analysts also cite GRSE’s solid fundamentals, order visibility, and export potential amid global rearmament trends as drivers behind this rally.

As European countries search for alternative defense suppliers, GRSE’s reputation as a reliable, timely, and cost-effective builder is opening doors. The German multi-purpose vessel deal is emblematic of this shift.

GRSE’s human resource development efforts are also commendable. In April 2025, Xavier Business School launched a 10-day Management Development Programme tailored for GRSE executives. The program underscores the company's investment in grooming future leaders and strengthening corporate acumen within its ranks.

Moreover, GRSE’s workforce continues to be enriched through upskilling and exposure to high-tech, digitized shipbuilding processes, thus ensuring the sustainability of its transformation.

GRSE’s commitment to excellence has not gone unnoticed. In FY25, the company garnered 24 prestigious awards for achievements in Artificial Intelligence, Technology, Corporate Social Responsibility, Corporate Governance, Communication Outreach and Operational Excellence.

These accolades reinforce its position not only as a shipbuilder of distinction but as a corporate citizen committed to sustainable, transparent, and impactful growth.

GRSE’s journey is a narrative of transformation, resilience, and vision. From expanding global reach to nurturing innovation, from strategic partnerships to record-setting performances, GRSE stands as a symbol of India’s rising maritime ambition.

As the company sails into the future with a strong order book, strategic foresight, and a commitment to national service, it is not just building ships, it is crafting India’s maritime destiny.

How Galgotias University Stands Ahead In Empowering Students

Nestled in the bustling hub of Greater Noida, Uttar Pradesh, Galgotias University stands as proof of the transformative power of higher education. Under the visionary leadership of its CEO, Dr. Dhruv Galgotia, the institution has evolved from a promising private university into a global powerhouse, redefining higher education in India. With a dynamic blend of cutting-edge infrastructure, industry-aligned programs, and a relentless focus on innovation, Galgotias is shaping the next generation of leaders, entrepreneurs, and change-makers. From hosting international conferences to fostering startups, achieving global rankings, and celebrating student victories on the world stage, the university’s journey is nothing short of inspiring.

At the heart of Galgotias University’s meteoric rise is Dr. Dhruv Galgotia, its young leader whose forward-thinking approach has propelled the institution to new heights. With a keen understanding of the evolving needs of today’s youth, like their need for speed, Dr. Galgotia has spearheaded initiatives that bridge the gap between traditional academia and the demands of a rapidly changing world. 

“At Galgotias University, we are committed to shaping the future by empowering students to reach their fullest potential,” he says, a mantra that echoes through every facet of the institution.

Under his stewardship, the university has embraced a student-centric model, integrating technology, active learning, and real-world relevance into its DNA. His emphasis on innovation is evident in the university’s top-tier rankings for patent filings - No. 1 in Uttar Pradesh and among the Top 3 in India - as well as its robust incubation ecosystem, which has nurtured over 135 startups till now. 

Dr. Galgotia’s vision extends beyond academics; he sees education as a movement, a catalyst for sustainability, creativity, and global impact. “Creativity dies in stagnation. Change is essential,” he asserts, a philosophy that has driven Galgotias to pioneer India’s first Active Learning Space and forge strategic partnerships with global leaders like Nanyang Technological University (NTU), Singapore.

Founded with a mission to provide quality education, Galgotias University has grown exponentially since its inception in 2011. Today, it boasts over 40,000 students across 20 schools and 30 departments, offering more than 200 programs ranging from polytechnic diplomas to PhDs.

Says Chancellor Suneel Galgotia, “We remain committed to realizing Prime Minister Narendra Modi’s vision of making India a developed nation and a global leader and Vishwa Guru, and to Uttar Pradesh Chief Minister Yogi Adityanath’s dream of establishing UP as a global knowledge superpower.”

Galgotias University has strong departments and courses spanning Engineering, Law, Business, Media, Pharmacy, Liberal Arts, Hotel Management, Science, Arts, Commerce and more.

Spread across a sprawling, green 52-acre campus, Galgotias University boasts infrastructure that rivals top international institutions. The latest addition - a futuristic academic block with smart classrooms, AI labs, innovation spaces, and collaborative work zones - is proof of the university’s investment in next-gen education. 

With an A+ accreditation from the National Assessment and Accreditation Council (NAAC), the university is a hub of academic rigor and excellence. Its faculty, numbering over 1,500, includes industry experts, researchers, and educators dedicated to fostering a culture of inquiry and innovation.

At the core of Galgotias’ rise is its world-class faculty. They include PhDs from IITs, IIMs, and global institutions, ensuring that students learn from the best. Faculty members are encouraged to pursue patents, publish in international journals, and lead research projects, many of which receive government and private grants. Over 100 patents have been filed in recent years, underscoring the university’s commitment to original research.

The university’s alumni network, exceeding 80,000 in strength, is a testament to its impact. Graduates have excelled globally, from corporate boardrooms to international sports arenas, carrying forward the Galgotias legacy.

The university’s Alumni Connect Program organizes global reunions, mentorship programs, and networking summits that help current students access career opportunities and guidance from seasoned professionals.

With an annual intake of over 12,000 new students - as seen during the Orientation 2024 - the campus buzzes with energy, supported by one of India’s largest Student Councils, overseeing 50+ active clubs that nurture leadership and collaboration.

Galgotias University is not just a place of learning; it’s a platform for groundbreaking events that connect students with industry and innovation. The 10th edition of the Electric Solar Vehicle Championship-3000 (ESVC-3000), held recently, in collaboration with ISIEINDIA, showcased the ingenuity of young engineers. 

Teams from across India competed in categories like the SIEP E-Bike Challenge and the Solar Vehicle Championship, testing their designs for endurance, efficiency, and sustainability. With 20 teams clearing rigorous technical inspections and a Red Bull vehicle exhibition adding flair, the event underscored Galgotias’ commitment to green mobility.

Similarly, the Smart India Hackathon (SIH) 2024, hosted on December 13, 2024, brought together innovators to solve real-world problems. The Ministry of Education’s Innovation Cell praised the students’ dedication, engaging with projects like an IoT-based smart irrigation system aimed at tackling water scarcity. These events highlight Galgotias’ role as a catalyst for practical, industry-relevant solutions.

Entrepreneurship is a cornerstone of Galgotias University’s ethos, embodied by the Galgotias Incubation Centre for Research, Innovation, Startups & Entrepreneurs (GIC RISE). Since its inception, GIC RISE has supported over 135 startups, with 35 still active and more than 30 generating stable revenue - three surpassing INR 1 crore annually.

Vineet Mittal, a medical biotechnology graduate, exemplifies this success with Biopractify, a startup transforming biotech education through skill development and virtual labs, crediting GIC RISE for turning his dream into reality.

The incubator offers a robust ecosystem, including a co-working space, FAB Lab, EV lab, 3D printing facilities, and centers of excellence in AI law and intellectual property. With over 120 events, 10 startup challenges, 35 mentors, and 10 investor partners, GIC RISE empowers students to innovate without chasing funds. 

“If they build a product that attracts customers, funding will follow naturally,” Dr. Galgotia emphasizes, a philosophy that has birthed solutions like Sakhi, an app addressing menstrual health, and others aiding the visually and hearing impaired.

The university is also a proud member of the Atal Innovation Mission and houses NITI Aayog’s Atal Incubation Centre, one of the few in India selected for high-impact incubation activities.

Galgotias University’s commitment to modern education is reflected in its state-of-the-art infrastructure. On November 19, 2024, it unveiled India’s first Active Learning Space, a revolutionary building designed to foster collaboration and critical thinking. 

Developed in consultancy with NTU Singapore, this facility aligns with the National Education Policy (NEP), featuring cluster seating, multiple boards, and touch-panel TVs for interactive learning. “This is not just an infrastructural upgrade; it’s an overhaul of the educational experience,” Dr. Galgotia notes.

In February 2025, the university launched its AI, Data Science Block and library, a hub integrating traditional learning with AI, ML, and Big Data. With specialized labs, a reading lounge, and digital resources, it caters to diverse disciplines, preparing students for a tech-driven world. These facilities, backed by a INR 300 crore investment, underscore Galgotias’ ambition to lead in technological education.

Galgotias students are making waves on the global stage, most notably with their victory at Apple’s Swift Student Challenge 2025. Eleven students from the iOS Development Centre, established with Apple and Infosys, were among the 350 winners worldwide, selected from thousands of entries. 

Their projects - ranging from Tide Explorer, visualizing lunar gravitational effects, to Svaraa, gamifying reproductive health education - demonstrate technical prowess and social impact. “This global recognition is a testimony to our emphasis on innovation,” Dr. Galgotia beams, noting the mentorship from faculty and industry experts that fueled this success.

Galgotias University has gone beyond borders in its quest for academic excellence. The institution has forged strategic partnerships with world-renowned universities like Purdue University, Georgia Tech, and Goethe University. These collaborations are not just ceremonial - they have resulted in exchange programs, collaborative research projects, and joint curriculum development.

While Galgotias University’s student-to-faculty ratio, allows for personalized attention and mentorship, the university’s academic framework aligns closely with the National Education Policy (NEP), promoting interdisciplinary learning, skill development, and research. From engineering and law to management, media, design, and pharmacy, the range of programs offered are updated regularly to meet the demands of Industry 4.0.

Galgotias University’s academic excellence has earned it prestigious accolades. In the QS World University Rankings: Asia 2025, it ranked 187th in South Asia and 621-640 in Asia, a feat felicitated by Uttar Pradesh Governor Smt. Anandiben Patel at Raj Bhavan in the presence of Dr. Dhruv Galgotia.

The Times Higher Education (THE) World University Rankings 2025 placed it 45th among Indian universities and in the 1001-1200 band globally, while the Times B-School Survey 2025 ranked it 5th among private universities in India. 

With a QS 5-star rating in Teaching, Academic Development, Innovation, Employability, and Facilities, Galgotias is steadily climbing toward Dr. Galgotia’s goal of being among the world’s top 100 universities.

Galgotias University is ranked among the Top 200 universities in NIRF (National Institutional Ranking Framework) and holds various certifications and accreditations from bodies like NBA, AICTE, BCI, PCI, and UGC.

Its School of Law has been recognized by the Bar Council of India, while the School of Pharmacy is approved by the Pharmacy Council of India. The university is also a member of the Association of Indian Universities (AIU), further cementing its standing among academic peers.

Galgotias University is also a renowned campus for the sporting domain. Its athletes have consistently brought home medals in national and international tournaments. Among them are recipients of the prestigious Arjuna Award, India’s highest sporting honor.

Three students - Rakesh Kumar, Preeti Pal, and Simran Sharma - recently received the Arjuna Award from the Indian President Droupadi Murmu, for their bronze medals at the 2024 Paralympics in Paris. Rakesh, a BA student, shone in archery, while Preeti (MBA) and Simran (MA) triumphed in sprinting. 

Their resilience, supported by the university’s sports ecosystem, has inspired millions. “These achievements bring glory to the nation and Galgotias,” Dr. Galgotia says, praising the athletes’ families and their coaches.

Galgotias University’s sporting facilities include a fully-equipped sports complex, Olympic-sized swimming pool, synthetic tracks, and indoor arenas. Galgotias students have represented India in sports ranging from boxing and wrestling to badminton and basketball.

Galgotias University is also a hub for intellectual exchange, as seen in the International Conference on Recent Trends in Intelligent Computing and Communication (ICRTICC - 2025) recently, at Galgotias College. Sponsored by CRC Press and indexed in SCOPUS, it attracted 900 research papers, with 285 accepted, featuring luminaries like Dr. Dev Prakash Vidyarthi from JNU Delhi. 

Earlier, conference with NTU Singapore delegates further solidified its global stature, focusing on reshaping teaching paradigms with insights from Prof. Gan Chee Lip and others.

Collaboration is key to Galgotias’ success. Its partnership with NTU Singapore has brought active learning expertise, with faculty training under NTU’s InsPIRE program. 

Industrial tie-ups with JSW MG Motor India and Kansai Nerolac Paints Ltd. enhance student exposure to automotive and construction fields, offering hands-on training and placement opportunities. The MoU with Zell Education integrates the ACCA certification into the BBA program, preparing students for global finance careers.

With over 300 national and international awards, Galgotias University blends academic rigor with extracurricular vibrancy. Its School of Hospitality & Tourism ranks among the world’s top 50 institutions as per CEO World. 

Placements remain stellar, with industry giants like Microsoft, Amazon, Cognizant, Infosys, Capgemini, Wipro, Samsung, and Intel tapping its talent pool. The university’s INR 600 crore roadmap includes a medical college and K-12 school, ensuring sustained growth without compromising quality.

Beyond academics, Galgotias is a vibrant hub of student life. Its annual tech-fest, G-Quasar, attracts thousands from across India, blending innovation with entertainment. Cultural fests, music gigs, TEDx events, and international cuisine days make campus life electric. More than 50 student clubs, ranging from robotics and coding to theatre and entrepreneurship, ensure that every student finds their niche.

Apart from becoming one of the top 100 universities globally, Dr. Dhruv Galgotia’s plans include building Asia’s largest Innovation Park and launching global dual-degree programs. Under his vision, Galgotias University also wants to be a net-zero, sustainable campus. He is also focusing more on strengthening the University’s pioneering courses in AI, Blockchain, and Green Tech.

Galgotias University, under Dr. Dhruv Galgotia’s leadership, is proving to be more than a private institution, and is fighting and overcoming public universities in many facets. By fostering innovation, embracing global partnerships, and celebrating student achievements, it’s carving a path toward becoming a world-class university. As it continues to break barriers and inspire, Galgotias stands as a model for what education can achieve when vision meets action.

With a deep commitment to quality, innovation, and inclusiveness, Dr. Dhruv Galgotia has positioned the university at the intersection of industry, academia, startup incubation and cutting-edge research.

“At Galgotias, we don’t just prepare students for jobs,” Dr. Dhruv asserts. “We prepare them to be leaders, entrepreneurs, and changemakers.” 

His leadership has ignited a movement that’s much bigger than any one institution. It’s a reimagination of what Indian higher education can be - vibrant, inclusive, innovative, and globally respected.

How NBCC Is Playing A Pivotal Role In Building the Future of India

In the vibrant world of India’s infrastructure development, NBCC (India) Limited stands tall as a transformative force, turning blueprints into reality, and ambitions into achievements. A Navratna Public Sector Undertaking under the Ministry of Housing and Urban Affairs, NBCC has redefined the contours of urban planning, project consultancy, real estate, and engineering construction in India and beyond. NBCC’s story is not just one of financial numbers but of bold decisions, transformative projects, and strategic collaborations under the astute leadership of its Chairman and Managing Director, K.P. Mahadevaswamy.

NBCC’s operations are structured into three key business verticals. Project Management Consultancy (PMC) dominates the company’s portfolio, with this segment contributing a staggering 91% to its revenues in the first nine months of FY25. This division specializes in civil construction, redevelopment, infrastructure for national security, and implementation of flagship government schemes like PMGSY and developmental projects in the North East. PMC also saw a healthy 13% YoY revenue growth in the 9M FY25 period.

Its second largest segment of Engineering, Procurement & Construction (EPC), forms only a modest 7% of NBCC’s revenue mix, but this segment has punched way above its weight with a remarkable 52% YoY revenue growth in the 9M FY25 period. From high-rise chimneys to coal handling systems, NBCC provides end-to-end solutions to marquee clients like NTPC and IOCL, among several others.

Accounting for only 2% of its total revenue, is NBCC’s Real Estate and Other business segment, which focuses on both residential and commercial development, including modern corporate offices and townships.

NBCC's performance in the first nine months of FY25 demonstrates strength and resilience across these segments. Net profit for Q3FY25 surged 25.1% YoY to Rs 138.5 crore, while revenues rose 16.6% to Rs 2,827 crore. The company’s operating performance too displayed strength with EBITDA climbing 22% to Rs 142 crore and margins improving slightly to 5%.

Behind these figures lies NBCC’s ability to navigate a dynamic market environment while driving consistent performance across its verticals.

With a consolidated order book exceeding Rs 1 lakh crore as of January 2025, NBCC has never been better poised for growth. Compared with its current annual revenue run rate of around 10,500 crore, this order book is massive enough to last more than a few years. 

Its order book now includes a Rs 12,712 crore project for a 406-acre satellite township in Srinagar, Rs 9,445 crore worth Supertech project completion, and a Rs 3,500 crore worth mixed-use development in Lucknow’s Poorvi Vihar.

Breaking down the order book between the standalone NBCC and its subsidiaries, the standalone entity accounts for Rs 82,500 crore worth of projects, while the rest is split between its key subsidiary firms. Among these, HSCC has an order book of Rs 10,600 crore, HSCL has an order book of Rs 6,800 crore and NSL has attracted Rs 200 crore worth of orders. Such a robust pipeline reflects the company's rising stature as a one-stop solution provider for high-impact infrastructure projects.

In a bid to expand its operational bandwidth, NBCC has inked several significant Memoranda of Understanding (MoUs) in recent quarters and months. In February 2024, NBCC inked a deal with fellow public sector company HUDCO, which is focused on asset monetization and joint consultancy projects. In September 2024, NBCC tied up with railway PSU RITES which is aimed at leveraging synergies in consultancy and EPC contracts.

Perhaps the most ambitious collaboration yet that NBCC has inked is with MAHAPREIT, a Maharashtra Government company. This Rs 25,000 crore partnership will see NBCC enter Maharashtra’s redevelopment sector, covering slum rehabilitation, cluster housing, and smart urban projects.

Through this tie-up with MAHAPREIT, NBCC will execute green infrastructure projects including solar and sustainable housing under PMAY, thus playing its nation building role in renewable energy and urban development.

Recently, in April 2025, NBCC tied up with another noted railway PSU, RailTel, which is a major leap into the digital frontier, with this MoU targeting the co-development of data centres across India and abroad. Beyond conventional infrastructure, NBCC is thus stepping into new domains by targeting the booming digital economy.

These strategic alignments signal NBCC’s vision to become a diversified, multi-vertical infrastructure behemoth. In recent years, NBCC has also emerged as a turnaround expert for stuck real estate projects, especially in the National Capital Region. 

Its recent achievements include sale of 1,185 units in Aspire Dream Valley, Greater Noida, for Rs 1,505 crore; bulk sale of Ashiana flats fetching Rs 1,153 crore; and auction of Amrapali flats, generating over Rs 7,000 crore, with further land monetization projected to yield an additional Rs 14,000 crore.

NBCC earns a 1% marketing fee on these high-value transactions, boosting non-operational income and showcasing its real estate management prowess.

Internationally, the company is active in the Maldives, Mauritius, Seychelles, Dubai, and Jeddah, while exploring opportunities in Fiji, Morocco, the Philippines, and Africa.

At the helm of this ambitious expansion drive at NBCC is KP Mahadevaswamy, a visionary leader whose tenure is marked by strategic execution and sectoral diversification. Recently elected as the Chairman of SCOPE (Standing Conference of Public Enterprises) for 2025–2027, Mahadevaswamy’s elevation is a proof of his influential role in India’s public sector ecosystem.

His leadership has not only stabilized NBCC's operational efficiency but also amplified its visibility through aggressive yet calculated project acquisitions. Under his guidance, NBCC is targeting Rs 5,000 crore in revenues in FY26 from its MAHAPREIT collaboration alone.

Despite high volatility in the markets in recent quarters, NBCC has delivered over 270% returns, over a two-year period, reinforcing its multibagger status. Most analysts remain bullish, expecting FY25 revenue, EBITDA, and net profit to grow at 13%, 15%, and 18% respectively.

Looking forward, NBCC is focused on achieving a 20-25% annual revenue growth, and expanding its order book by 25-35% over the next 2-3 years. Apart from targeting revenue growth, deepening its footprint in states like Maharashtra and various Union Territories through smart city projects, as well as becoming a global player in IT infrastructure through its RailTel and international partnerships, are also among its objectives.

With a rock-solid balance sheet, and declining contingent liabilities - Rs 2,645 crore in FY24 vs Rs 2,964 crore in FY22 - attributable to tax disputes, and a well-diversified business model, NBCC is charting a growth path that blends its traditional strengths with future-forward thinking.

In a world craving sustainable urbanization and smart infrastructure, NBCC (India) Limited is proving to be an effective nation-builder. From transforming government colonies in Delhi to reviving stalled housing dreams in Noida, from revitalizing spiritual towns like Haridwar to venturing into data centres and international markets, NBCC is scripting a bold, new growth narrative.

As India marches ahead on its $5 trillion economy ambition, NBCC remains one of its steadiest and most strategic partners. Under the visionary leadership of its CMD KP Mahadevaswamy, and with an ever-expanding arsenal of capabilities, NBCC is not just constructing buildings, it’s playing its role in building the future of India.