Millennium Post

RIL country’s largest firm by assets... worth Rs 3.68 trillion

Reliance Industries Ltd (RIL) is the country’s largest corporate with assets worth Rs 3.68 lakh crore, followed by state-owned Indian Oil Corp and mortgage lender HDFC. In the list of top 10 corporates in terms of assets, Reliance Industries Ltd and Housing Development Finance Corporation (HDFC)  were the only two firms from the private sector, data compiled by the Corporate Affairs Ministry showed.

At the end of March 2014, Reliance Industries Ltd’s assets stood at Rs 3.68 lakh crore, while that of Indian Oil Corp and Housing Development Finance Corporation was at Rs 2.52 lakh crore and Rs 2.25 lakh crore, respectively. This information was given by Corporate Affairs Minister Arun Jaitley in a written reply to the Rajya Sabha.

Other entities in the top ten are Power Finance Corp (4th), NTPC (5), Rural Electrification Corp (6), Power Grid Corp (7), LIC Housing Finance (8), Steel Authority of India (9) and Bharat Sanchar Nigam Ltd (10). Power Finance Corp’s assets stood at Rs 1.94 lakh crore, NTPC (Rs 1.80 lakh crore), Rural Electrification Corp (Rs 1.53 lakh crore), Power Grid Corp (1.40 lakh crore), LIC Housing Finance (Rs 95,777 crore), Steel Authority of India (Rs 91,962 crore) and Bharat Sanchar Nigam Ltd (Rs 89,333 crore).

The list is based on data from 4,15,886 companies which had filed their balance sheets for the year 2013-14 till November 30, 2014. “The total reported value of the assets of all the 4,15,886 companies was Rs 117.08 lakh crore and the share of top ten companies in the total value of assets was 15.3 per cent on March 31, 2014,” Jaitley said.

Meanwhile, Reliance  Industries Ltd said that its venture investment arm has mentored 11 start-ups from diverse sectors as part of an accelerator programme launched jointly with Microsoft Ventures late last year.

A total of 267 start-ups had applied for the programme launched last September, the company said in a statement. The 11 selected start-ups are engaged in education, healthcare, transportation, retail and HR sectors and have undergone a four-month course at RIL’s facility in Navi Mumbai near here, it said.

Even though the Mukesh Ambani-led company and Microsoft had hinted at investing in some of the start-ups, the statement did not have any reference of any infusions done in the current round.
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