IREDA Sets New Record : Achieves Highest Ever Loan Sanctions And Disbursements – Indian PSU

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Indian Renewable Energy Development Agency Limited (IREDA), the largest pure-play green financing NBFC in the country, has achieved its highest-ever annual loan sanctions and disbursements in the financial year 2023-24. The PSU has sanctioned loans amounting to Rs. 37,354 crores and disbursed loans worth Rs. 25,089 crores during the fiscal year. This has led to a significant growth of 26.71% in the loan book, which now stands at Rs. 59,650 crores.

The business performance (provisional) for the quarter and year ended March 31, 2024, subject to audit, is as follows:

Business Performance for Quarter / Year Ended 2023-24 (Provisional)
(In Rs. Crore)
 Particulars For the 4th Quarter ended For the Year ended 31st March Growth (%)
2023-24 2022-23 2023-24 2022-23 For Q4 Year ended
Loan Sanctioned 23,796 11,797 37,354 32,587 101.71% 14.63%
Loan Disbursements 12,869 11,291 25,089 21,639 13.98% 15.94%
Loan book Outstanding as on 31st March 2024    59,650  47,076    26.71%

Commenting on the performance of the company, Chairman and Managing Director of IREDA Shri Pradip Kumar Das said: “IREDA’s record loan sanctions and disbursements for the financial year 2023-24 underscore our untiring commitment to driving the renewable energy revolution in the country. This achievement wouldn’t have been possible without the invaluable support of our stakeholders, business-partners, and investors. We are happy to contribute significantly towards Govt. of India’s renewable energy targets and look forward to further amplifying our impact in the coming years.”

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