IREDA Targets 21% Revenue Growth to Rs 8,200 Cr

New Delhi, Aug 25 (PTI) State-owned Indian Renewable Energy Development Agency (IREDA) on Monday said it is eying over 21 per cent growth in revenue from operations this fiscal to Rs 8,200 crore, compared to a year ago.

The company had Rs 6,743.32 crore revenue from operations in the last fiscal year 2024-25, a company statement showed.

According to the statement, IREDA signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) on Monday, outlining strategic targets for the fiscal year 2025-26.

The MoU was signed by Santosh Kumar Sarangi, Secretary, MNRE and Pradip Kumar Das, Chairman & Managing Director, IREDA in the presence of senior officials from MNRE and IREDA.

Under the MoU, the government of India has set a revenue from operations target of Rs 8,200 crore for FY 2025-26.

IREDA exceeded its revenue from operations target in FY 2024-25, achieving Rs 6,743.32 crore, against a target of Rs 5,957 crore.

The MoU also includes key performance parameters such as return on net worth, return on capital employed, NPA to total loans and asset turnover ratio among other targets.

Expressing confidence in the company's growth trajectory, Das said, "With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence.