Reliance Industries Ltd. invested $9.3 billion or Rs 73,764 crore outside its non-core businesses as billionaire Mukesh Ambani's conglomerate continues to expand the footprint.
The investments were in associates, joint ventures, subsidiaries and in new acquisitions during the fiscal ended March, according to its annual report. These exclude oil-to-chemicals, digital and telecom and retail businesses.
The company invested a combined Rs 30,000 crore in Reliance 4IR Realty Development Ltd. and Reliance Projects & Property Management Services Ltd.
Total investments in all businesses stood at Rs 2.86 lakh crore during the last fiscal. That compares with Rs 2.12 lakh crore during the previous financial year.
The investments outside core businesses include Rs 1,442 crore in Dunzo, Rs 9,703 crore additional investment in its associate firm Reliance Services and Holdings Ltd., Rs 2,812 crore in Sterling & Wilson Renewable Energy Ltd. and Rs 13,386 crore more in Petroleum Trust.
The group generates 44% of its operating income from non-oil-to-chemicals business. Investments in various subsidiaries unrelated to the three-core business jump Rs 37,401 crore to Rs 1,65,200 crore at the end of March 2022.
On a standalone basis, Reliance Industries invested nearly Rs 38,500 crore in various subsidiaries during the financial year.
Reliance 4IR Realty
Reliance Industries invested Rs 10,000 crore via 0.01% non-cumulative optionally convertible preference shares in Reliance 4IR Realty Development. The company is involved in the development of Navi Mumbai and Haryana special economic zones.
According to its balance sheet, the principal activities of the company are trading and holding strategic interests in businesses and providing business support services. Its main investments are in Reliance Corporate IT Park, The Indian Combine Film Pvt. Ltd. and Model Economic Township in Haryana.
Reliance Projects
RIL also invested Rs 20,000 crore via 0.01% non-cumulative optionally convertible preference shares in Reliance Projects & Property Management Services Ltd. Reliance Projects sets up infrastructure for Reliance Retail and Reliance Jio, according to related-party transaction disclosures put up for shareholder approval.
Reliance Projects is also the owner of Jio Cinemas OTT platform that will be transferred to Viacom18 Media Pvt. It will also invest in Viacom18 along with Bodhi Tree Systems, backed by James Murdoch and Uday Shankar.
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