IREDA Reports Strong Q3 Growth with Improved Asset Quality

IREDA, India’s leading renewable energy financing NBFC, delivered robust performance in Q3 FY26, showcasing strong financial and operational momentum. The company reported revenue of ₹2,130 crore (up 25% YoY) and PAT of ₹585 crore, a significant 38% increase from the year-ago period. Over nine months, revenue reached ₹6,134 crore (+27%) and PAT stood at ₹1,381 crore (+15%), supported by a 28% expansion in its loan book to ₹87,975 crore. Disbursements surged 44% to ₹24,903 crore, while sanctions grew 29% to ₹40,100 crore, reflecting rising demand for green financing. A key highlight was the improvement in asset quality: GNPA declined to 3.75% (from 3.97%) NNPA dropped to 1.68% (from 1.97%) Provision coverage improved to 56.08% Net interest margin expanded to 3.74% (from 3.33%) due to lower borrowing costs (down 61 bps to 7.07%) and stable yield, despite a slight dip in lending rates. IREDA also strengthened its funding profile, raising ₹32,397 crore in Q3, including a JPY 26 billion overseas bond. It holds an enviable 'AAA/Stable' domestic rating, with S&P upgrading its long-term rating to 'BBB' (Stable). With a diversified portfolio across solar, wind, hydro, and public-private segments, and net worth growing 38% to ₹13,537 crore, IREDA continues to lead India’s clean energy transition as a financially resilient and strategically vital institution.