IREDA Reports 27% Surge in Loan Sanctions to ₹47,453 Crore for FY 2024-25
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Synopsis
On March 31, IREDA revealed a 27% increase in loan sanctions, reaching ₹47,453 crore for FY 2024-25. This significant growth highlights IREDA's commitment to financing renewable energy projects, with loan disbursements up 20% and a robust expansion of their loan book.
Key Takeaways
- 27% increase in loan sanctions to ₹47,453 crore.
- 20% rise in loan disbursements to ₹30,168 crore.
- 28% growth in the outstanding loan book reaching ₹76,250 crore.
- Net profit rose by 26.8% to ₹425.37 crore.
- Revenue increased by 35.57% to ₹1,698.99 crore.
New Delhi, March 31 (NationPress) The Indian Renewable Energy Development Agency Limited (IREDA) announced a 27% increase in loan sanctions, totaling ₹47,453 crore for the financial year concluding on March 31, 2025, compared to ₹37,354 crore in the previous year.
Disbursements of loans climbed by 20%, reaching ₹30,168 crore in 2024-25, up from ₹25,089 crore in FY 2023-24. The total outstanding loan book expanded by 28%, hitting ₹76,250 crore as of March 31, 2025, rising from ₹59,698 crore the previous year, according to an IREDA statement.
IREDA’s Managing Director, Pradip Kumar Das, commented: "Revealing IREDA’s annual performance on the final day of the financial year highlights our unwavering commitment to the highest levels of corporate governance and transparency with our investors. IREDA’s ongoing growth in loan sanctions, disbursements, and loan book is a testament to our determination to finance renewable energy projects. We are dedicated to facilitating India’s clean energy transition through innovative and accessible financing solutions."
Recently, IREDA entered into an agreement for a 26 billion Japanese Yen loan from SBI’s Tokyo branch, which features a green shoe option of 10 billion Japanese Yen.
This five-year unsecured facility, with a bullet payment due at maturity, aims to bolster IREDA’s global market presence, as stated in a stock exchange filing.
The landed cost, after hedging, is anticipated to be below 7% for the External Commercial Borrowing, making it a more economical choice compared to similar-tenure loans in the domestic market, according to the IREDA statement.
Additionally, IREDA reported a 26.8% increase in net profit, reaching ₹425.37 crore for the October-December quarter of the current financial year, up from ₹335.54 crore in the same quarter of the previous fiscal year.
The largest pure-play green financing NBFC in the country recorded a revenue of ₹1,698.99 crore during the third quarter, which signifies a 35.57% rise compared to ₹1,253.20 crore in Q3 FY 2023-24.
