BHEL aims Rs 24k-cr networth in FY12, eyes Maharatna status

BHEL is aiming to achieve a networth of Rs 23,755 crore this fiscal as it will brighten the company's prospects of getting the coveted Maharatna status.

BHEL has set a target of reaching the networth of Rs 23,755 crore in FY12, according to the Memorandum of Understanding (MoU) it has signed with the Ministry of Heavy Industries and Public Enterprises.

Once the target is realised, the PSU would have an average networth of over Rs 15,000 crore for three straight financial years -- one of the criteria needed for the Maharatna status.
Even as the company has set a goal for qualifying for the coveted status given to PSUs, the government is considering to grant it the Maharatna tag soon with a condition that it would meet the criteria within this fiscal, sources said.

The government is also planning to offload 5% of its stake in BHEL through a follow-on public offer that could fetch the exchequer about Rs 4,700 crore.


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