Govt sets revenue target of Rs 36,000 cr for FY 2020-21 for PFC Limited

The government has set an ambitious revenue target of Rs 36,000 crores along with various performance-related parameters in the performance-based MoU signed between Ministry of Power and PFC Limited for the FY'2020-21
Govt sets revenue target of Rs 36,000 cr for FY 2020-21 for PFC Limited
  • PFC signs MoU with Ministry of Power detailing performance targets for FY'2020-21

  • The government has set an ambitious revenue target of Rs 36,000 crores for PFC Limited

New Delhi: Power Finance Corporation (PFC) Limited has signed a performance-based 'memorandum of understanding' (MoU) with the Ministry of Power, detailing various targets to be achieved by PFC during financial years 2020-21 (FY21).

The MoU has been signed by Ministry of Power's Secretary Sanjiv Nandan Sahai and PFC's Chairman & Managing Director (CMD) RS Dhillon in presence of senior officials of Ministry of Power and PFC.

The government has set an ambitious revenue target of Rs 36,000 crores along with various performance-related parameters such as operating profit as a percentage of revenue from the operation, PAT as a percentage of average net worth and non-financial parameters viz., IPDS-related parameters.

PFC has been delivering exemplary performance from the past years and the ratings from the Government of India stands testimony to the performance.

Power Finance Corporation (PFC) Limited

PFC is under the administrative control of the Ministry of Power. PFC has been named Asia's most trusted companies for 2019 by IBC. PFC was given the coveted title based on comprehensive research conducted by IBC, a division of the international brand consulting corporation bases in the USA. PFC has been conferred the title of a 'Navratna CPSE' in June 2007 and was classified as an Infrastructure Finance Company by the RBI on July 28, 2010. PFC is playing a crucial role in the rise of India as a global player.

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