IREDA Achieves Record Loan Sanctions and Disbursements in FY 2023-24
The company sanctioned loans totaling INR 37,354 crores and disbursed loans worth INR 25,089 crores during the fiscal year, marking a growth of 26.71 percent in the loan book, which now stands at INR 59,650 crores.
April 02, 2024. By Abha Rustagi
The company sanctioned loans totaling INR 37,354 crores and disbursed loans worth INR 25,089 crores during the fiscal year, marking a growth of 26.71 percent in the loan book, which now stands at INR 59,650 crores.
The business performance for the fourth quarter and the full year ended March 31, 2024, subject to audit, demonstrates impressive growth compared to the previous year.
Loan sanctions for the fourth quarter surged to INR 23,796 crores, representing a remarkable increase of 101.71 percent compared to the same period last year.
The loan disbursements for the fourth quarter reached INR 12,869 crores, showing a substantial growth of 13.98 percent year-on-year.
Commenting on the company's performance, Pradip Kumar Das, Chairman and Managing Director of IREDA, emphasized the organization's unwavering commitment to driving the renewable energy revolution in India. "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," he said.
"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,” he added.
IREDA's achievement highlights its key role in facilitating the growth of renewable energy infrastructure in India and advancing the country's sustainable development goals.
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