Power Grid Sticks to ₹28,000–30,000 Cr FY26 Capex Target as Execution Accelerates

id Corporation of India Ltd reaffirmed its FY26 capital expenditure target of ₹28,000–30,000 crore, with Chairman and Managing Director R.K. Tyagi signaling a strong second-half push to meet the goal. The company has already deployed ₹15,385 crore in the first half—outpacing last year—and expects to commission ₹20,000 crore worth of projects by March 2026. “Delays in right-of-way approvals earlier were due to states adopting the Centre’s new compensation guidelines,” Tyagi said during the Q2 earnings call. The updated valuation process, requiring inputs from three valuers, slowed progress in states like Delhi, but the Ministry of Power is now enforcing one-month resolution timelines. Capex Trajectory on Upward Swing FY25: ₹26,000 crore (actual) FY26: ₹28,000 crore (guidance) FY27: ~₹35,000 crore FY28: ~₹45,000 crore