IREDA loan book reached Rs 79,941 crore in April-June quarter: CMD
State-owned IREDA's loan book reached reached Rs 79,941 crore in the first quarter of FY2025-26, growing at a compounded annual growth rate of 29 per cent since 2020-21, its Chairman and Managing Director Pradip Kumar Das said on Thursday.
The Indian Renewable Energy Development Agency (IREDA), under the Ministry of New and Renewable Energy (MNRE), provides financing for renewable energy and energy efficiency projects nationwide.
IREDA has been instrumental in enabling the renewable energy transition with over Rs 2.49 lakh crore sanctioned and Rs 1.63 lakh crore disbursed as of Q1 FY26 (June 30, 2025), Das said, addressing the shareholders at the company's 38th Annual General Meeting (AGM)."Our loan book has grown at 29 per cent CAGR since FY21, and reached Rs 79,941 crore in Q1 FY26. Operating profit has also shown strong momentum with a 49 per cent year-on-year (y-o-y) growth this quarter," he said.
Das said IREDA is also expanding into emerging sectors such as green hydrogen, e-mobility, and ethanol, while consolidating company's leadership in traditional renewable energy sectors including solar, wind, hydro, biomass and cogeneration.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Cut import, increase exports to become ‘vishwaguru': Gadkari
1 2 3 Nagpur: Without directly referring to the ongoing US tariff imposition, Union minister Nitin Gadkari on Saturday said that reducing imports and boosting exports is the biggest patriotism today if India wants to become a 'vishwaguru'. Speaking during the Prof VG Bhide memorial lecture at VNIT, Gadkari stressed that science and technology hold solutions to the country's major problems under the present circumstances. "Knowledge is power. Duniya jhukti hai, jhukane wala chahiye (The world bows, you need someone to make it bow)," he said. "If our scientists and institutions work as per the needs of the country, then the rate of our growth and development will increase thrice. When our economic growth rate and export increases, I don't think we will need anyone's support. Today, those who are bullying others can do so because they are economically self-reliant, and technologically sound. But when we have better technology and resources, we wouldn't indulge in bullying others. Our tradition teaches welfare of the world 'vishwa kalyan'," he said. Paying tribute to Prof Bhide as a good teacher and researcher, Gadkari urged IITs and NITs to focus research on the needs of the nation and find solutions tailored for each state, district, and city. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Most Beautiful Women In The World Undo He cited how in Delhi, 80 lakh tonnes of garbage from four dumps was used to make roads. He emphasised the importance of ethics, economy, and ecology, adding that technology should be used in Swachh Bharat to create value from waste. Recalling a remark by former RSS chief late KS Sudarshan, Gadkari said the import of fossil fuels must end to curb global terrorism. India spends Rs 21 lakh crore annually on importing fossil fuels, but farmers can help reduce this dependency. He pointed to the rise in corn prices after ethanol production began — from Rs 1,800 per quintal (MSP) to Rs 2,800 — and said corn plantation has tripled. He also cited progress in bio-ethanol, isobutanol (as an alternative to diesel), and bio-aviation fuel from rice straw, with the govt financing marine engine production by Kirloskar. Calling for indigenous technology, Gadkari said Bhide's research remains a guiding light. He lamented that research centres have not worked enough on hyperlocal problems but praised VNIT's ongoing work. Sharing an example from Covid times, he said a unit to treat black fungus-related blindness was set up in Wardha after he intervened for licensing. Gadkari added that the New Education Policy has incorporated science with values and culture, and called for a futuristic vision, futuristic implementation, and a self-reliant society in the coming years. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Raksha Bandhan wishes , messages and quotes !
Time of India
26 minutes ago
- Time of India
ICICI Bank hikes min balance for savings a/cs from Rs 10k to Rs 50k
MUMBAI: ICICI Bank has hiked the average minimum balance requirement for new savings accounts opened after Aug 1 to Rs 50,000 from Rs 10,000. This five-fold increase comes at a time when most public sector banks are waiving the minimum balance requirement. Tired of too many ads? go ad free now The step from the country's second largest private bank has received widespread criticism. ICICI Bank did not comment on the move, but its website provides the new qualifying criteria. For semi-urban locations and rural locations, the balance requirement is Rs 25,000 and Rs 10,000, respectively. The bank last increased its minimum balance requirement over a decade ago. Since then, per capita income has more than doubled. The penalty for non-maintenance of minimum balance is Rs 500 or 6% of the shortfall between the required and actual balance. Many bankers were mystified by ICICI Bank's move, which they said prima facie appeared aimed at filtering out low-value customers. They noted that such measures are generally taken by multinational banks because of their limited ability to service customers due to branch restrictions. It is also seen as unusual given that the bank has maintained a low-profile approach since CEO Sandeep Bakhshi took charge in 2018. The change under him has been characterised by a focus on risk management, product innovation, and expanding its digital footprint. ICICI Bank has also generally shunned attention. However, sources said statutory accounts like basic savings accounts and salary accounts will continue to be opened without a minimum balance requirement. The objective of the move was to increase the share of current and savings account balances and reduce pressure on operating costs. Sources added that the new savings account was redesigned as a new product, with a host of charges that earlier applied to savings accounts now waived for these accounts.
Time of India
an hour ago
- Time of India
Defence production has soared to an all-time high of 1.5L cr, says Rajnath Singh
NEW DELHI: India's annual defence production has "soared to an all-time high figure" of over Rs 1.5 lakh crore in the 2024-25 financial year, defence minister said on Saturday, terming the upward trajectory a clear indicator of the country's strengthening defence industrial base. Tired of too many ads? go ad free now "These numbers indicate a robust 18% growth over the previous fiscal's output of Rs 1.2 lakh crore, and a staggering 90% increase since 2019-20, when the figure was Rs 79,071 crore," Singh said. The landmark has been achieved due to the efforts of MoD's deptt of defence production and all stakeholders, including defence PSUs, other public sector manufacturers and private industry. Defence exports have also risen, reaching Rs 23,622 crore in 2024-25. Defence PSUs and other PSUs accounted for 77% of total production, while private sector contributed 23%, up from 21% in 2023-24. "Share of private sector reflects its growing role in country's defence ecosystem," an official said. Both segments of the industry have shown consistent year-on-year growth due to policy reforms, improved ease of doing business and a strategic focus on indigenisation over the past decade. "Emphasis on reducing import dependence and building a defence industrial complex that caters to domestic needs as yielded positive results," he added.
