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4h ago

IREDA, MNRE Sign Performance MoU Setting Rs 8,200 Crore FY26 Revenue Goal

The government pact adds profitability and asset-quality benchmarks following a weak profit print in the first quarter.

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Overview

  • IREDA’s performance agreement with MNRE sets a revenue-from-operations target of Rs 8,200 crore for FY2025-26, implying roughly 21% growth over last year.
  • The MoU includes key metrics such as return on net worth, return on capital employed, NPA-to-total-loans ratio, asset turnover ratio, and EBTDA.
  • The pact was signed in New Delhi by MNRE Secretary Santosh Kumar Sarangi and IREDA CMD Pradip Kumar Das at Atal Akshay Urja Bhawan.
  • IREDA exceeded its FY2024-25 revenue target by delivering Rs 6,743.32 crore against a goal of Rs 5,957 crore.
  • In Q1 FY26, revenue rose about 29% to roughly Rs 1,947 crore while net profit fell 35.6% to around Rs 247 crore on higher impairment, with the loan book up 27% to Rs 79,960 crore.