IREDA Reports 41% Loan Growth in Q3
ECONOMY & POLICY

IREDA Reports 41% Loan Growth in Q3

State-owned Indian Renewable Energy Development Agency (IREDA) reported a 41% increase in loan disbursements, amounting to Rs 172.36 billion in the December quarter of FY24. Provisional figures reveal loan sanctions skyrocketed by 129% YoY to Rs 310.87 billion, compared to Rs 135.58 billion in Q3 FY23.

The outstanding loan book surged 36% to Rs 690 billion as of December 31, 2024, against Rs 505.8 billion a year ago, according to the company’s statement.

Pradip Kumar Das, Chairman and Managing Director of IREDA, highlighted the agency’s commitment to advancing India's renewable energy transition. "The 129% growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects," Das said.

IREDA's robust performance aligns with the nation's push for sustainable energy solutions, reinforcing its position as a key driver of India’s renewable energy ambitions.

State-owned Indian Renewable Energy Development Agency (IREDA) reported a 41% increase in loan disbursements, amounting to Rs 172.36 billion in the December quarter of FY24. Provisional figures reveal loan sanctions skyrocketed by 129% YoY to Rs 310.87 billion, compared to Rs 135.58 billion in Q3 FY23. The outstanding loan book surged 36% to Rs 690 billion as of December 31, 2024, against Rs 505.8 billion a year ago, according to the company’s statement. Pradip Kumar Das, Chairman and Managing Director of IREDA, highlighted the agency’s commitment to advancing India's renewable energy transition. The 129% growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects, Das said. IREDA's robust performance aligns with the nation's push for sustainable energy solutions, reinforcing its position as a key driver of India’s renewable energy ambitions.

Next Story
Products

Viva ACP Launches FR A1-Rated Honeycomb Panels for Fire Safety

Viva, Asia’s largest manufacturer and supplier of aluminium composite panels (ACP) introduced its FR A1-rated Honeycomb Panels, setting a new industry benchmark for fire safety and architectural excellence. Engineered to deliver exceptional performance, these panels combine advanced fire-resistance technology with aesthetic versatility, offering a revolutionary solution for safety-critical environments.The FR A1 rating represents the highest standard of fire resistance under the European Standard EN 13501-1, signifying non-combustibility and zero contribution to fire, smoke, or toxic emissio..

Next Story
Real Estate

Almal Real Estate Expands into Commercial, Global Markets

Almal Real Estate Development is soon to announce its upcoming expansion into new verticals and international markets as part of its strategic growth plans for 2030. The company, known for its innovative luxury residential and hospitality developments, is preparing to diversify into the commercial sector with the introduction of The Smart Space, a network of business centers in UAE featuring five-star amenities. Additionally, Almal is entering new markets in Bali and Thailand as a community developer, focusing on villa and townhouse projects.The expansion into the commercial real estate sector..

Next Story
Infrastructure Urban

NABARD Approves Rs 9.03 Billion for 127 Projects in Himachal

The Himachal Pradesh government has secured approval from the National Bank for Agriculture and Rural Development (NABARD) for 127 projects worth Rs 9.03 billion for the 2024-25 fiscal, Chief Minister Sukhvinder Singh Sukhu announced. During a meeting with MLAs from Kangra, Kullu, Kinnaur, Solan, Chamba, Bilaspur, and Lahaul-Spiti districts to discuss priorities for the 2025-26 budget, Sukhu said the approved projects include 50 MLA-priority schemes under the Public Works Department, valued at Rs 4.12 billion, and 23 MLA-priority schemes under the Jal Shakti Vibhag, costing Rs 1.79 billio..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?