IREDA sets ₹8,200 crore revenue target for FY26, projects 22% topline growth

The Indian Renewable Energy Development Agency (IREDA) on Monday signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting a revenue from operations target of ₹8,200 crore for the financial year 2025-26.

The MoU was signed by MNRE Secretary Santosh Kumar Sarangi and IREDA Chairman and Managing Director Pradip Kumar Das at Atal Akshay Urja Bhawan in New Delhi in the presence of senior officials from both organisations, a statement said.

As part of the agreement, performance indicators such as return on net worth, return on capital employed, non-performing assets (NPA) to total loans, asset turnover ratio and earnings before tax, depreciation and amortisation (EBTDA) have also been included.

For FY25, IREDA had exceeded its revenue from operations target, clocking ₹6,743.32 crore against the set target of ₹5,957 crore.

Expressing confidence in sustaining the company’s growth momentum, Das said, “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence. IREDA has earned an ‘Excellent’ rating in MoU performance for four consecutive years since FY21.”

“For FY24, the company was ranked the top performer in the NBFC and power sector and among the top four CPSEs across sectors, as per a list of 84 CPSEs issued by the Department of Public Enterprises.”

IREDA reported a 36% decline in consolidated net profit at ₹247 crore for the April-June quarter of FY26, compared to ₹383.7 crore in the year-ago period.

The PSU’s total revenue from operations in Q1 FY26, however, rose 29% to ₹1,947.6 crore as against ₹1,510.27 crore a year earlier. Its net interest income grew 36% to ₹691 crore, while the loan book expanded 26 per cent year-on-year to ₹79,941 crore.