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Time of India
15-05-2025
- Business
- Time of India
Tata Power to bid for UP discoms in core business push
Mumbai: Tata Power plans to bid for two electricity distribution companies in Uttar Pradesh — Dakshinanchal Vidyut Vitran Nigam and Purvanchal Vidyut Vitran Nigam — once tender documents are released, said MD Praveer Sinha. This move supports Tata Power's goal to grow its transmission and distribution (T&D) business, which brings in most of its revenue and a large share of its profits. 'Based on our discussions, bid documents are being finalised and are expected by the end of the month. They (UP) are looking to privatise two discoms — Dakshinanchal and Purvanchal — which will be divided into six circles. We will participate actively when the documents are available,' Sinha said. Currently, Tata Power manages electricity distribution in Mumbai, Delhi, Ajmer, and Odisha, serving 12.5 million customers. It aims to have a base of 40 million in 5 years. UP's goal is to cut losses and improve efficiency in these two discoms. Most likely, govt will choose a public-private partnership , with private companies holding majority stake. Dakshinanchal and Purvanchal serve 42 of UP's 75 districts. Tata Power improved the financial health of the discoms after it checked into them, which also positions it to capitalise on opportunities arising in the power distribution space. For instance, the profit of the Odisha discom, in which it holds 51% and the Odisha govt owns 49%, increased by 86%, reaching Rs 439 crore in FY25 from Rs 236 crore in FY22. Odisha discom came under Tata Power's management between June 2020 and April 2021. Tata Power, which plans to enter the small modular nuclear reactor business, is waiting for legal clarity before moving ahead. 'We are awaiting amendments to the Nuclear Power Act — specifically civil liability and private sector participation. We expect the amendments to be discussed during the monsoon session. We are preparing with site evaluations, water arrangements, and technology reviews, but our next steps depend on legal clarity,' Sinha said. Tata Steel & Tata Motors, are potential customers for the nuclear power that Tata Power intends to offer as part of its clean energy solution. It plans to spend Rs 25,000 crore on capital expenditure in FY26. Sinha said 50% of this amount will be allocated to renewables, 20% to generation, and 30% to T&D. In FY25, it spent Rs 16,000 crore on capex, falling short of the Rs 20,000-crore target. The reduced spend was attributed to delays in transmission and renewable projects, according to the leadership. Tata Power plans to exit Tata Projects, the contractor that built Parliament building after independence, as it wants to focus on its main businesses. 'Tata Power is focused on growth in core businesses: renewables, hydro, transmission, and distribution. We need capital for this, so we have chosen not to allocate funds to non-core ventures,' said Sinha.
Time of India
15-05-2025
- Business
- Time of India
Tata Power to invest ₹25,000 cr in FY26; 50% to be allocated for renewables
New Delhi: Tata Power plans to invest ₹25,000 crore as capital expenditure in FY26, with 50 per cent of the planned capex earmarked for renewables, 20 per cent for generation including pumped hydro, and 30 per cent for transmission and distribution (T&D), CEO Praveer Sinha said. 'Capex for FY26 is ₹25,000 crore, 50 per cent to renewables, 20 per cent to generation (including pumped hydro), and 30 per cent to T&D (transmission and distribution),' Sinha said during a post-earnings call on Wednesday. The company had earlier planned a capex of ₹20,000 crore for FY25, but was able to achieve over ₹16,000 crore due to delays in some transmission and renewable projects. Tata Power added 2.3 GW capacity in FY25 and is targeting 2.5–2.7 GW capacity addition in FY26. 'We are also finalising long-term wind turbine supply (1-1.5 GW) within the next three-four weeks,' he said. Sinha also said the company is keen to bid for two power distribution companies in Uttar Pradesh. On nuclear plans, he said, 'We are awaiting amendments to the Nuclear Power Act—specifically civil liability and private sector participation. We expect these in the monsoon session. We're preparing with site evaluations, water arrangements, and technology reviews, but next steps depend on legal clarity.' Tata Power reported an 8 per cent year-on-year rise in consolidated net profit to ₹1,042.83 crore for the quarter ended March 2025, compared to ₹895.21 crore in the same period a year ago. Revenue from operations rose 8 per cent to ₹17,095.88 crore in Q4FY25 from ₹15,846.58 crore in Q4FY24. On a quarter-on-quarter basis, PAT was up 1.2 per cent from ₹1,030.70 crore in Q3FY25. Revenue grew 11.1 per cent from ₹15,391.06 crore reported in the October-December quarter. According to the company's exchange filing, EBITDA for Q4FY25 increased 14 per cent year-on-year to ₹3,829 crore from ₹3,358 crore. 'EBITDA for Q4FY25 rose 14% to ₹3,829 crore on the back of strong performance across the core businesses comprising generation, T&D, and renewables,' the company said in its filing.
Time of India
14-05-2025
- Business
- Time of India
Tata Power to bid for UP discoms in core business push
Representative photo MUMBAI: Tata Power plans to bid for two electricity distribution companies in Uttar Pradesh — Dakshinanchal Vidyut Vitran Nigam and Purvanchal Vidyut Vitran Nigam — once tender documents are released, said MD Praveer Sinha. This move supports Tata Power's goal to grow its transmission and distribution (T&D) business, which brings in most of its revenue and a large share of its profits. 'Based on our discussions, bid documents are being finalised and are expected by the end of the month. They (UP) are looking to privatise two discoms — Dakshinanchal and Purvanchal — which will be divided into six circles. We will participate actively when the documents are available,' Sinha said. Currently, Tata Power manages electricity distribution in Mumbai, Delhi, Ajmer, and Odisha, serving 12.5 million customers. It aims to have a base of 40 million in 5 years. UP's goal is to cut losses and improve efficiency in these two discoms. Most likely, govt will choose a public-private partnership , with private companies holding majority stake. Capex alloted to renewable Dakshinanchal and Purvanchal serve 42 of UP's 75 districts. Tata Power improved the financial health of the discoms after it checked into them, which also positions it to capitalise on opportunities arising in the power distribution space. For instance, the profit of the Odisha discom, in which it holds 51% and the Odisha govt owns 49%, increased by 86%, reaching Rs 439 crore in FY25 from Rs 236 crore in FY22. Odisha discom came under Tata Power's management between June 2020 and April 2021. Tata Power, which plans to enter the small modular nuclear reactor business, is waiting for legal clarity before moving ahead. 'We are awaiting amendments to the Nuclear Power Act — specifically civil liability and private sector participation. We expect the amendments to be discussed during the monsoon session. We are preparing with site evaluations, water arrangements, and technology reviews, but our next steps depend on legal clarity,' Sinha said. Tata Steel & Tata Motors, are potential customers for the nuclear power that Tata Power intends to offer as part of its clean energy solution. It plans to spend Rs 25,000 crore on capital expenditure in FY26. Sinha said 50% of this amount will be allocated to renewables, 20% to generation, and 30% to T&D. In FY25, it spent Rs 16,000 crore on capex, falling short of the Rs 20,000-crore target. The reduced spend was attributed to delays in transmission and renewable projects, according to the leadership. Tata Power plans to exit Tata Projects, the contractor that built Parliament building after independence, as it wants to focus on its main businesses. 'Tata Power is focused on growth in core businesses: renewables, hydro, transmission, and distribution. We need capital for this, so we have chosen not to allocate funds to non-core ventures,' said Sinha. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
14-05-2025
- Business
- Time of India
Tata Power to bid for UP discoms in core biz push
Mumbai: Tata Power plans to bid for two electricity distribution companies in Uttar Pradesh — Dakshinanchal Vidyut Vitran Nigam and Purvanchal Vidyut Vitran Nigam — once tender documents are released, said MD Praveer Sinha. This move supports Tata Power's goal to grow its transmission and distribution (T&D) business, which brings in most of its revenue and a large share of its profits. 'Based on our discussions, bid documents are being finalised and are expected by the end of the month. They (UP) are looking to privatise two discoms — Dakshinanchal and Purvanchal — which will be divided into six circles. We will participate actively when the documents are available,' Sinha said. Currently, Tata Power manages electricity distribution in Mumbai, Delhi, Ajmer, and Odisha, serving 12.5 million customers. It aims to have a base of 40 million in fiveyears. UP's goal is to cut losses and improve efficiency in the two discoms. Most likely, govt will choose a public-private partnership, with private companies holding majority stake. Dakshinanchal and Purvanchal serve 42 of UP's 75 districts. Tata Power improved the financial health of the discoms after it checked into them, which also positions it to capitalise on opportunities arising in the power distribution space. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scarlett Johansson, 40, Shows Off Her Real Size In A New Vacation Photos 33 Bridges Undo For instance, the profit of the Odisha discom, in which it holds 51% and the Odisha govt owns 49%, increased by 86%, reaching Rs 439 crore in FY25 from Rs 236 crore in FY22. Odisha discom came under Tata Power's management between June 2020 and April 2021. Tata Power, which plans to enter the small modular nuclear reactor business, is waiting for legal clarity before moving ahead. 'We are awaiting amendments to the Nuclear Power Act — specifically civil liability and private sector participation. We expect the amendments to be discussed during the monsoon session. We are preparing with site evaluations, water arrangements, and technology reviews, but our next steps depend on legal clarity,' Sinha said. Tata Steel & Tata Motors, are potential customers for the nuclear power that Tata Power intends to offer as part of its clean energy solution. It plans to spend Rs 25,000 crore on capital expenditure in FY26. Sinha said 50% of this amount will be allocated to renewables, 20% to generation, and 30% to T&D. In FY25, it spent Rs 16,000 crore on capex, falling short of the Rs 20,000-crore target. The reduced spend was attributed to delays in transmission and renewable projects, according to the leadership. Tata Power plans to exit Tata Projects, the contractor that built Parliament building after independence, as it wants to focus on its main businesses. It did not participate in the recent rights issue of Tata Projects, causing its ownership share to decline to 23% from 31%. The other shareholders of Tata Projects are Tata Sons (owns more than 50%) and Tata Chemicals. 'Tata Power is focused on growth in core businesses: renewables, hydro, transmission, and distribution. We need capital for this, so we have chosen not to allocate funds to non-core ventures,' said Sinha , adding that 'We have been divesting non-core and overseas assets and will continue to do so.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
14-05-2025
- Business
- Mint
Tata Power to spend ₹25,000 crore as capex in FY26, two discom bids eyed in UP: CEO Praveer Sinha
Tata Power is looking to spend ₹ 25,000 crore as capital expenditure (capex) in FY26 and the company is also keen to bid for two discoms in Uttar Pradesh, CEO Praveer Sinha said as he shared plans for the new fiscal. About the company's plans for nuclear projects, he said Tata Power is awaiting legal changes, and will proceed accordingly. The CEO made the remarks during a post-earnings call on Wednesday. Tata Power posted a nearly 25 per cent rise in consolidated net profit to ₹ 1,306.09 crore in March quarter of FY25, aided by strong performance across core businesses comprising generation, transmission and distribution, and renewables. When asked about the company's capex plans for FY26, Sinha told PTI, "Capex for FY26 is ₹ 25,000 crore, 50 per cent to renewables, 20 per cent to generation (including pumped hydro), and 30 per cent to T&D (transmission and distribution)." The company had planned a capex of ₹ 20,000 crore for FY25, but could achieve over ₹ 16,000 crore as some transmission and renewable projects got delayed, he said. In FY25, Tata Power added 2.3 GW capacity, while in FY26, the company is on track to add 2.5-2.7 GW of capacity, Sinha said. "We are also finalising long-term wind turbine supply (1-1.5 GW) within the next three-four weeks," he added. On the plans for nuclear projects, the CEO said the company is keen on that but any progress will be made only after legal clarity. "We are awaiting amendments to the Nuclear Power Act -- specifically civil liability and private sector participation. We expect these in the monsoon session. We're preparing with site evaluations, water arrangements, and technology reviews, but next steps depend on legal clarity," he said. Replying to another question on interest in two discoms (power distribution companies) which being privatised in Uttar Pradesh, Sinha said the company will examine the opportunity. "Yes, we are very much interested (in the UP discoms) and expect the bid documents by this month-end. We will definitely participate," he said. Tata Power will continue to evaluate good opportunities, aligned with long-term strategy. All suitable opportunities will be examined. In Uttar Pradesh, the government is in the process to privatise discoms -- Purvanchal Vidyut Vitran Nigam Ltd (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Ltd (DVVNL). The two discoms cover 42 out of 75 districts of Uttar Pradesh. About interests in exports to the US, he said "Our immediate priority is to serve the domestic market, especially under PM Surya Ghar Yojana, which requires GTR modules. After that, we can examine export possibilities."
