IREDA shares important updates on disbursements, loan book growth for the June quarter
IREDA shares important updates on disbursements, loan book growth for the June quarter
Indian Renewable Energy Development Agency Ltd. (IREDA) on Sunday evening shared its business update for the April-June quarter. It sanctioned loans worth ₹9,136 crore during the first quarter of financial year 2025.
When compared to the same quarter last year, IREDA had disbursed loans worth ₹1,893 crore, implying a growth of nearly 5x on a year-on-year basis.
Disbursement of loans during the quarter stood at ₹5,320 crore, which is a 67.6% growth compared to the ₹3,174 crore it had disbursed during the corresponding quarter last year.
At the end of the June quarter, IREDA's loan book stood at ₹63,150 crore, up 33.77% from the same period last year, when it stood at ₹47,207 crore.
Towards the end of May, IREDA had announced plans to become a "Maharatna" PSU by financial year 2030. It was granted a "Navratna" status in the month of April.
IREDA intends to increase its annual disbursements by over 5x to ₹1.36 lakh crore by financial year 2030. At the end of financial year 2024, IREDA's disbursements stood at ₹25,089 crore, which is a growth of 15% compared to financial year 2023.
By the end of financial year 2030, IREDA intends to have a loan book of nearly ₹3.5 lakh crore. That is a 6x growth from its financial year 2024 loan book of ₹59,650 crore.
Shares of IREDA ended 1.2% lower on Friday at ₹191.05. IREDA debuted on the bourses towards the end of last year at an IPO price of ₹32, post which, it made an all-time high of ₹214 within a few days of listing. The stock then saw a sharper correction to sub-₹100 levels, before rebounding again.
Shares of IREDA have risen 83% so far this year.