Reliance Infrastructure

Corporate brand

An Indian infrastructure company active in electricity, transport infrastructure, engineering, construction, defence, and aerospace.

Last updated August 27, 2026

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Overview

Reliance Infrastructure Limited, commonly known as RInfra, is an Indian infrastructure development and engineering company associated with the Reliance Group. Its activities have included electricity generation, transmission and distribution; engineering, procurement and construction; roads and toll concessions; metro rail; airports; bridges; defence manufacturing; and aerospace components. The company is headquartered in Navi Mumbai and has operated primarily through subsidiaries, associates, joint ventures, and public-private partnership structures. The business traces its corporate lineage to Bombay Suburban Electric Supply, or BSES, an electricity undertaking founded in 1929. In 2002, Reliance Energy Limited acquired and took over the BSES business, while the wider electricity sector in India was being reorganised through privatization and unbundling initiatives. Reliance Energy subsequently expanded beyond electricity into road development and other infrastructure concessions. In April 2008, it adopted the name Reliance Infrastructure Limited to reflect this broader scope. Electricity has remained a central part of the company’s history. Through BSES Rajdhani Power Limited and BSES Yamuna Power Limited, each structured as a joint venture with the Government of Delhi, the group has supplied power in western, southern, central, and eastern parts of Delhi. Its earlier Mumbai transmission and distribution operations were also significant, but the Mumbai power-transmission business was sold to Adani Electricity Mumbai in 2018 during a period of financial pressure. Reliance Infrastructure has also been associated with engineering and construction work for thermal and other power projects, including large plants owned by group companies or public-sector utilities. The company developed a major transport-infrastructure portfolio through build-operate-transfer and other concession arrangements. It participated in the Mumbai Metro One project linking Versova, Andheri, and Ghatkopar, and was involved in construction packages for Mumbai Metro Line 4. It also received highway concessions from the National Highways Authority of India, covering projects in states including Tamil Nadu, Maharashtra, Gujarat, Rajasthan, Haryana, and Uttar Pradesh. Its airport-related activities included the operation or development of smaller Maharashtra airports through Reliance Airport Developers and construction work for Rajkot Greenfield Airport in Gujarat. Reliance Infrastructure entered defence and aerospace through Reliance Defence Limited and related subsidiaries. These activities have covered land systems, naval systems, aircraft and avionics, missiles, unmanned systems, shipbuilding, maintenance, repair and overhaul, and aerospace component manufacturing. Its aerospace presence at MIHAN in Nagpur includes Reliance Aerostructure and the Dassault Reliance Aerospace joint venture. In 2025, the defence businesses announced collaborations involving aircraft support, ammunition, and the potential expansion of Falcon business-jet manufacturing in India. The company’s current identity is therefore broader than a conventional utility. It combines regulated and concession-based infrastructure interests with project execution and defence-industrial ambitions. Its history has also been shaped by asset sales, capital raising, contractual disputes, and the financial challenges associated with large, highly leveraged infrastructure projects. Because its portfolio and subsidiary structure have changed repeatedly, individual projects and business lines should be dated when describing them.

History

Reliance Infrastructure’s roots lie in Bombay Suburban Electric Supply, an electricity undertaking established in October 1929. For much of its early existence, BSES was associated with electricity supply in the Mumbai region. In 2002, Reliance Energy Limited took over the 83-year-old undertaking. The transaction created the foundation for the Reliance Group’s later utility and infrastructure portfolio and coincided with reforms in India’s electricity sector. The company expanded beyond its traditional electricity base during the 2000s. In 2002, Delhi’s electricity distribution system was reorganised after the unbundling of the Delhi Vidyut Board. Reliance Infrastructure’s successor businesses became partners in BSES Rajdhani Power Limited and BSES Yamuna Power Limited, alongside the Government of Delhi. BRPL serves parts of southern and western Delhi, while BYPL serves parts of central and eastern Delhi. These distribution companies became an important continuing expression of the group’s utility operations. Reliance Energy entered road infrastructure in 2006 through two National Highway projects in Tamil Nadu, covering the Namakkal–Karur and Dindigul–Samayanallur sections of the former NH 7. In April 2008, Reliance Energy Limited changed its name to Reliance Infrastructure Limited. The new name reflected a strategy of presenting the company as a diversified infrastructure platform rather than solely as an electricity enterprise. It subsequently pursued highways, bridges, airports, metro rail, power plants, and engineering contracts, often through concession companies and joint ventures. In urban transport, a consortium led by the company secured the Mumbai Metro One concession for the Versova–Andheri–Ghatkopar corridor. The project used a build-operate-transfer structure under which the private consortium would operate the line and collect revenue for a concession period before transferring the infrastructure to the government. The line opened to passengers in 2014. The company and its partners also obtained construction packages for parts of Mumbai Metro Line 4, although the scope of those packages did not include every element of the complete line. Reliance-linked interests were also involved in Delhi’s Airport Express project, which opened in 2011. The highway portfolio became one of the company’s most visible infrastructure activities. It received multiple National Highways Development Programme concessions from the National Highways Authority of India, covering roughly 1,000 kilometres across a group of projects. These concessions generally required the company to arrange project financing, construct or upgrade the road, and recover investment through toll collection during the concession period. Projects included routes connecting Delhi and Agra, Pune and Satara, Hosur and Krishnagiri, Dindigul and Samayanallur, Namakkal and Karur, Kandla and Mundra, Jaipur and Reengus, Trichy and Dindigul, Trichy and Karur, Salem and Ulundurpet, and routes in the Gurgaon–Faridabad and Ballabgarh–Sohna corridors. The company also pursued airport development. Through Reliance Airport Developers Limited, it operated or developed five smaller brownfield airports in Maharashtra: Nanded, Latur, Baramati, Yavatmal, and Osmanabad. In 2015, the Maharashtra government was reported to be considering cancellation of the airport agreements because of slow progress. In 2019, Reliance Infrastructure received a contract from the Airports Authority of India for construction of Rajkot Greenfield Airport at Hirasar in Gujarat. Power generation and EPC work complemented the concession businesses. Reliance Infrastructure executed or participated in engineering and balance-of-plant contracts for thermal projects including Sasan, Samalkot, Rosa, Raghunathpur, Rajiv Gandhi, Deenbandhu Chhotu Ram, Butibori, and Dahanu, as well as packages for Parichha and Panipat. Some of these plants were owned by other Reliance entities or public-sector utilities, meaning that the company’s role was often contractor or project executor rather than long-term owner. The company entered defence through Reliance Defence Limited, established as a subsidiary in March 2015. Reliance Defence organised activities around land, marine, and aerospace systems, including weapons platforms, aircraft and avionics, missiles, unmanned systems, command-and-control systems, and shipbuilding. Reliance Infrastructure also acquired Pipavav Defence and Offshore Engineering Company Limited, giving it a larger industrial base in defence and marine engineering. In aerospace, the Dhirubhai Ambani Aerospace Park at MIHAN, Nagpur, was planned as an indigenous manufacturing cluster. Dassault Reliance Aerospace began operations at the site in 2017 and delivered its first Falcon 2000 front section in 2019. A significant portfolio change occurred in September 2018, when Reliance Infrastructure sold its Mumbai power transmission business to Adani Electricity Mumbai for ₹18,800 crore. The sale illustrated the company’s use of asset monetisation while under financial pressure and reduced its exposure to that portion of the Mumbai electricity network. The company continued to retain other power interests, including Delhi distribution joint ventures and generation or EPC activities. By the 2020s, the company was presenting defence and aerospace as important growth areas alongside its established infrastructure interests. In 2024, its board approved a proposed $350 million foreign-currency convertible bond issue and an employee stock option plan. In 2025, Reliance Defence announced cooperation with Rheinmetall in ammunition, with Coastal Mechanics in aircraft maintenance and support, and with DRDO’s ARDE on 155 mm artillery ammunition. Dassault and Reliance also announced a proposed expansion of Falcon aircraft manufacturing and assembly in India. These developments indicate a continuing shift toward industrial and defence manufacturing, although the company remains historically identified with power and transport infrastructure.

2025
Defence and aerospace partnerships expand
[1]Reliance Infrastructureen.wikipedia.org
The group announces cooperation with Rheinmetall, Coastal Mechanics, DRDO-linked programmes, and Dassault-related Falcon manufacturing plans.
2024
Convertible bond and employee option proposals approved
[1]Reliance Infrastructureen.wikipedia.org
The board approves proposals for $350 million in foreign-currency convertible bonds and an employee stock option scheme.
2019
Rajkot airport contract awarded
[1]Reliance Infrastructureen.wikipedia.org
The Airports Authority of India awards the company a contract to construct Rajkot Greenfield Airport.
2018
Mumbai transmission business is sold
[1]Reliance Infrastructureen.wikipedia.org
The company sells its Mumbai power transmission business to Adani Electricity Mumbai for ₹18,800 crore.
2015
Reliance Defence is established
[1]Reliance Infrastructureen.wikipedia.org
Reliance Defence Limited is established as a subsidiary, expanding the group into defence and aerospace systems.
2011
Delhi Airport Express opens
[1]Reliance Infrastructureen.wikipedia.org
The Delhi Metro Airport Express line opens to the public on 23 February, with Reliance-linked involvement in the project.
2008
Reliance Energy adopts the Reliance Infrastructure name
[1]Reliance Infrastructureen.wikipedia.org
The company changes its name to Reliance Infrastructure Limited as its activities broaden beyond electricity.
2006
Entry into national highway development
[1]Reliance Infrastructureen.wikipedia.org
The company enters road building through two Tamil Nadu highway projects.
2002
Reliance Energy takes over BSES
[1]Reliance Infrastructureen.wikipedia.org
Reliance Energy Limited takes over the long-established BSES electricity undertaking.
2002
Delhi electricity distribution is reorganised
[1]Reliance Infrastructureen.wikipedia.org
Following Delhi Vidyut Board’s unbundling, Reliance-linked joint ventures become distribution companies serving parts of Delhi.
1929
Bombay Suburban Electric Supply is established
[1]Reliance Infrastructureen.wikipedia.org
Bombay Suburban Electric Supply, the predecessor associated with the company’s utility history, is founded in October.

Products and positioning

An Indian infrastructure developer and project company combining power utilities, transport concessions, EPC execution, and emerging defence and aerospace manufacturing.

Electricity distribution · 2002
BSES Rajdhani Power Limited
A Reliance Infrastructure-linked joint venture with the Government of Delhi serving southern and western parts of the National Capital Territory. It distributes electricity across an area reported at approximately 750 square kilometres and represents one of the group’s continuing regulated utility interests.
Electricity distribution · 2002
BSES Yamuna Power Limited
A joint venture between Reliance Infrastructure and the Government of Delhi that distributes electricity in central and eastern Delhi. It was created during the 2002 reorganisation of Delhi’s electricity supply system.
Metro rail infrastructure · 2014
Mumbai Metro One
The Versova–Andheri–Ghatkopar metro corridor developed by Mumbai Metro One Private Limited, a consortium involving Reliance Infrastructure, Veolia Transport, and the Mumbai Metropolitan Region Development Authority. The project uses a build-operate-transfer concession and is operational.
Road infrastructure · 2006
National highway concessions
A portfolio of highway and expressway concessions awarded under India’s national highway development programmes. The projects use build-operate-transfer structures and include routes in Tamil Nadu, Maharashtra, Gujarat, Rajasthan, Haryana, Uttar Pradesh, and other states.
Defence systems · 2015
Reliance Defence
A subsidiary platform covering land systems, marine and shipbuilding activities, aircraft and avionics, missiles, unmanned systems, command-and-control systems, and related defence engineering. Its structure expanded after the acquisition of Pipavav Defence and Offshore Engineering Company.
Aerospace manufacturing · 2017
Dassault Reliance Aerospace
A joint venture associated with Dassault Aviation and Reliance’s aerospace operations at MIHAN in Nagpur. The facility has produced Falcon 2000 structural components and has been positioned for broader aircraft assembly and manufacturing work in India.
Aerospace components · 2017
Reliance Aerostructure
An aerospace manufacturing business at the Dhirubhai Ambani Aerospace Park in Nagpur. Its reported activities include production of aircraft structures, components, spares, and avionics-related requirements for aerospace programmes.

Brand decisions

2025
Expand ammunition manufacturing and defence cooperationProduct launch
Background
Reliance Defence was developing domestic manufacturing capabilities under India’s defence-industrial and localisation policies.
Action taken
The company announced cooperation with Rheinmetall on explosives, propellants, artillery ammunition, and related marketing, and announced DRDO-linked development of four categories of 155 mm ammunition.
Aftermath
The announcements broadened Reliance Defence’s stated role from project participation toward indigenous ammunition design and production.
Source
2025
Advance Falcon aircraft manufacturing in IndiaProduct launch
Background
Reliance’s aerospace operation at MIHAN had already produced Falcon 2000 structural components and was being developed into a larger manufacturing centre.
Action taken
Dassault Aviation and Reliance announced plans involving Falcon 2000LXS manufacture and expanded assembly capabilities in India through Dassault Reliance Aerospace.
Aftermath
The announced plan was expected to increase the Indian facility’s role in the Falcon supply chain, subject to implementation and the reported ownership transaction.
Source
2024
Approve convertible bond fundraising and employee share schemeStrategy
Background
The company sought additional capital while continuing to manage a diversified infrastructure and defence portfolio.
Action taken
The board approved a proposed $350 million issue of unsecured foreign-currency convertible bonds and an employee stock option scheme for up to 26 million equity shares.
Aftermath
The proposals were intended to support capital raising and employee participation; the supplied reference does not establish the final completion terms.
Proposed convertible bond issue. $350 million (October 2024)
Source
2018
Sell Mumbai power transmission operationsM&A
Background
The company was under financial pressure and was reviewing its portfolio of infrastructure assets.
Action taken
Reliance Infrastructure sold its Mumbai power transmission business to Adani Electricity Mumbai.
Aftermath
The transaction monetised a major utility asset and reduced the company’s direct exposure to Mumbai transmission operations.
Transaction value. ₹18,800 crore (September 2018)
Source
2008
Rename the company as Reliance InfrastructureStrategy
Background
The former Reliance Energy business had expanded into roads, transport, construction, and other infrastructure activities.
Action taken
The company changed its name from Reliance Energy Limited to Reliance Infrastructure Limited.
Aftermath
The new name positioned the listed company as a diversified infrastructure platform rather than solely as an electricity business.
Source

Recent events

2025
Reliance Defence announces ammunition partnership with Rheinmetall[1]Reliance Infrastructureen.wikipedia.org
M&A · Product launch
Reliance Defence announced cooperation with Rheinmetall covering explosives, propellants, ammunition manufacturing, and joint marketing, centered on a planned facility in Maharashtra.
2025
Reliance Defence announces cooperation with DRDO for 155 mm ammunition[1]Reliance Infrastructureen.wikipedia.org
Product launch · Other
Reliance Defence announced completion of four development projects for next-generation 155 mm artillery ammunition under the Development cum Production Partner model with DRDO’s Armament Research and Development Establishment.
2025
Reliance Defence announces aircraft-support partnership with Coastal Mechanics[1]Reliance Infrastructureen.wikipedia.org
M&A · Product launch
The companies announced cooperation in maintenance, repair, upgrades, and lifecycle support for aircraft and other systems used by the Indian Armed Forces, with a proposed joint venture at MIHAN in Nagpur.
2025
Dassault and Reliance discuss expanded Falcon manufacturing in India[1]Reliance Infrastructureen.wikipedia.org
M&A · Product generation
A proposed expansion of the Dassault Reliance Aerospace operation at MIHAN was announced, including planned manufacture and assembly work for Falcon business jets. The reported transaction would also alter the ownership balance of the joint venture.
2024
Board approves foreign-currency convertible bond fundraising[1]Reliance Infrastructureen.wikipedia.org
Other
The board approved a proposed $350 million issue of unsecured foreign-currency convertible bonds and an employee stock option scheme involving up to 26 million equity shares.
2019
Reliance Infrastructure receives Rajkot airport construction contract[1]Reliance Infrastructureen.wikipedia.org
Product launch · Other
The company received a contract from the Airports Authority of India for construction of Rajkot Greenfield Airport at Hirasar in Gujarat.
2018
Reliance Infrastructure sells Mumbai power transmission business to Adani Electricity[1]Reliance Infrastructureen.wikipedia.org
M&A
Reliance Infrastructure agreed to sell its Mumbai power transmission business to Adani Electricity Mumbai for ₹18,800 crore, an important asset monetisation transaction during a period of financial stress.

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