>Reliance Infra(EDELWEISS)

Reliance Infrastructure’s (Rel Infra) return on average equity (ROAE) was 9.0% and
return on net operating assets (RNOA) was 9.2% in FY08 (ROE analyser analyses the
difference).

Investment in associate companies stands at INR 61.1 bn as at end-FY08 (INR 1.2 bn
as at end-FY07), generating a meager return of 1.3%. This is primarily on account of
investment made in Reliance Power (RPL; INR 60.8 bn), which is currently under
gestation and not fully operational.

Investments made by the company increased 124.0% from INR 52.2 bn in FY07 to INR
117.0 bn in FY08. The additional investment of INR 59.8 bn was primarily due to
investment in RPL’s initial public offer (IPO). Return on investment, other than
investment in RPL, comes to 6.5% for FY08.

Read full report here Reliance Infra(EDELWEISS)