New Delhi, April 15 -- Reliance Industries Ltd's step-down subsidiary Reliance Retail has sold its entire stake in Reliance Projects & Property Management Services Ltd (RPPMSL) to Jaipur Enclave Private Ltd for Rs 274 crore (around $30 million), the Mukesh Ambani-led conglomerate disclosed in a regulatory filing.
RPPMSL is an internal services and infrastructure arm of the Reliance group. It operates in the real estate and construction sector, offering construction management, facilities management and real estate advisory services.
It contributed Rs 6,412.60 crore -- 0.06% of RIL's consolidated turnover in FY25 -- and had a net worth of Rs 342.45 crore, which is 0.04% of RIL's consolidated net worth in the same fiscal.
In February, at the AI Summit, Ambani said that Reliance Industries and telecoms arm Jio will invest $109.8 billion (around Rs 10.3 lakh crore) over the next seven years to build artificial intelligence and data infrastructure.
RIL is constructing multi-gigawatt, AI-ready data centres at Jamnagar, with over 120 megawatts of capacity expected to come online in the second half of this year. The company's telecom arm also plans to build AI-ready data centres powered by renewable energy.
RIL shares were trading at Rs 1,342 on the BSE, up 2%, at the time of publishing this article. The stock hit an all-time high of Rs 1,611.8 in the first week of January, but has since dropped to the Rs 1,300 levels.
Published by HT Digital Content Services with permission from VC Circle.