Mukesh Ambani’s long game: How Reliance could turn a 3-year spending spree into Rs 90,000 crore of free cash flow
The Times of India·July 24, 2026
Reliance Industries could generate nearly Rs 90,000 crore in cumulative free cash flow over FY26-FY28 as its heavy investment cycle eases, brokerages say. Stronger earnings from energy and Jio, coupled with moderating capex, may reduce leverage and mark the beginning of a sustained cash flow and earnings upcycle.
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