Latest news with #PradipKumarDas
Time of India
4 days ago
- Business
- Time of India
IREDA loan book reached ₹79,941 cr in Apr-Jun quarter: CMD
New Delhi: State-owned IREDA's loan book reached reached ₹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 ₹2.49 lakh crore sanctioned and ₹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 ₹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. PTI
Economic Times
4 days ago
- Business
- Economic Times
IREDA loan book reached Rs 79,941 crore in April-June quarter: CMD
ANI IREDA provides financing for renewable energy and energy efficiency projects nationwide. 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.
News18
4 days ago
- Business
- News18
IREDA loan book reached Rs 79,941 cr in Apr-Jun quarter: CMD
Agency: PTI New Delhi, Aug 7 (PTI) 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. view comments First Published: August 07, 2025, 18:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
4 days ago
- Business
- Time of India
IREDA to expand into green hydrogen, e-mobility and ethanol sectors; disbursements at ₹1.63 lakh crore
New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA) will expand its operations into emerging sectors including Green Hydrogen, E-Mobility, and Ethanol while consolidating its leadership in the traditional renewable energy segments such as Solar, Wind, Hydro, Biomass, and Cogeneration, the company's Chairman and Managing Director Pradip Kumar Das said. Addressing the shareholders during IREDA's 38th Annual General Meeting (AGM) held via video conferencing from its Corporate Office, Das stated, 'IREDA is working towards expanding into emerging sectors such as Green Hydrogen, E-Mobility, and Ethanol while consolidating the company's leadership in traditional renewable energy sectors including Solar, Wind, Hydro, Biomass and Cogeneration.' He also emphasised the agency's efforts towards promoting ease of doing business through digitisation, automation and enhanced data analytics with an objective to improve employee productivity. 'The company is investing in automation and data analytics to improve employee productivity,' he said. Speaking on the financial progress, Das highlighted that IREDA has sanctioned over ₹2.49 lakh crore and disbursed ₹1.63 lakh crore as of the first quarter of FY26. 'With over ₹2.49 lakh crore sanctioned and ₹1.63 lakh crore disbursed as of Q1 FY26, IREDA has been instrumental in enabling the renewable energy transition,' he said. Das stated that the company's loan book has grown at a compound annual growth rate (CAGR) of 29 per cent since FY21 and reached ₹79,941 crore in the first quarter of FY26. He also informed that operating profit has shown a year-on-year growth of 49 per cent during the same quarter. He added that the Infrastructure Finance Company (IFC) status and Section 54EC tax exemption for bonds have further positioned the company for better investor engagement and improved funding mechanisms. 'IREDA's Infrastructure Finance Company (IFC) status and Section 54EC tax exemption for bonds have positioned the company for stronger investor engagement and competitive funding,' he said. The meeting was chaired by Pradip Kumar Das and attended by the Board of Directors and shareholders. During the meeting, Das addressed all shareholder queries, reinforcing the organisation's commitment to transparency and stakeholder engagement.
United News of India
22-07-2025
- Business
- United News of India
IREDA reaffirms its commitment to India's Clean Energy Mission
Mumbai, July 21 (UNI) Indian Renewable Energy Development Agency Ltd (IREDA), India's leading Non-Banking Financial Company (NBFC) under the Ministry of New & Renewable Energy (MNRE), reaffirms its commitment towards India's clean energy mission with strong financial performance and robust growth strategy, according to a statement issued here today. IREDA reported a 49 percent year-on-year growth in operating profit and a 30 percent rise in total income from operations in first quarter (Q1) of FY 2025–26. The strong performance underscored the strength of its core business. IREDA's outstanding loan book surged to Rs 79,941 crore, a 26 percent increase over the previous year, with significant contributions from solar, wind, and emerging technologies like green hydrogen, smart meters, and EVs. The company maintained its impeccable AAA (Stable) domestic credit ratings and successfully raised Rs ₹5,903 crore during the quarter, including a JPY 26 billion ECB from SBI Tokyo, ensuring access to cost-effective capital. Further, while net worth rose by 36 percent, to Rs ₹12,402 crore reflecting continued investor confidence and leadership in the renewable energy financing space. Commenting on the continued growth metrics, Pradip Kumar Das, Chairman & Managing Director, said: 'Operational excellence and responsible financing remain at the heart of our business strategy. We are committed to creating long-term stakeholder value through strong corporate governance, financial discipline, and robust support to India's renewable energy goals.' In a major policy boost, the Central Board of Direct Taxes (CBDT) under the Ministry of Finance has notified IREDA bonds as 'long-term specified assets' under Section 54EC of the Income-tax Act, 1961, effective July nine. This enables investors to claim capital gains tax exemption while supporting India's green transition. The move is also expected to reduce IREDA's cost of capital and encourage wider investor participation. Over the past financial year, IREDA has steadily reduced its NPAs over time by strengthening credit appraisal systems and recovery mechanisms and as a part of its forward strategy, the organisation continues to diversify its lending portfolio and align with national and global sustainability goals. IREDA also achieved recognition for governance and financial excellence, including the 'CMA Icon 2025' award to the CMD and a top five national ranking for wealth creation between November 2023-–24 by a leading business daily. India's recent milestone of achieving 50 percent non-fossil fuel-based power capacity, five years ahead of its 2030 target underscores the growing opportunities in the renewable energy sector. IREDA has been instrumental in this progress and continues to reaffirm its leadership in driving the country's clean energy transition towards the 500 GW target. UNI AAA SS
