IREDA Sets Revenue Target of Rs 8,200 Crore for FY 2025-26

Indian Renewable Energy Development Agency Limited (IREDA) today signed a performance-based Memorandum of Understanding (MoU) with India’s Ministry of New and Renewable Energy (MNRE), outlining strategic targets for the fiscal year 2025-26.

Under the MoU, the Government of India has set a revenue from operations target of ₹8,200 crores for FY 2025-26.

IREDA, the largest pure-play green financing NBFC in the country, has been recognised as the top performer among Power and NBFC sector CPSEs by the Department of Public Enterprises (DPE) for the annual performance MoU signed by the company for FY 2023-24.

An MoU between a Central Public Sector Enterprise (CPSE) and the Indian government is a performance-based agreement establishing mutual obligations and targets for a financial year to enhance the CPSE’s performance, autonomy, and accountability through objective evaluation, rather than direct control. 

The Department of Public Enterprises (DPE) oversees the MoU framework, which measures the CPSE’s achievements against these agreed-upon financial and non-financial targets on a 5-point scale. 

The MoU also includes key performance parameters such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA, among other targets.

IREDA had exceeded its revenue from operations target in FY 2024-25, achieving ₹6,743.32 crores against the target of ₹5,957 crores. In FY 2024-25, India’s green NBFC reported a strong set of numbers; its revenue from operations and PAT grew 36% on a YoY basis. 

Expressing confidence in the company’s growth trajectory, Pradip Kumar Das, CMD, IREDA, said: “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence”.

IREDA has earned an ‘Excellent’ rating in MoU performance for four consecutive years since FY 2020-21.

For FY 2023-24, IREDA emerged as the top performer in the NBFC and Power sector and among the top four CPSEs across sectors, as per a list of 84 CPSEs issued by the Department of Public Enterprises.