New Delhi: Tata Power has set its sights on Rs 1 lakh crore in revenue and Rs 10,000 crore in profit by 2030, a target the company expects to hit on the back of expansion across all its business verticals, including generation, transmission, distribution, renewables, and manufacturing. In FY26, the company's consolidated revenue stood at Rs 63,681 crore, with net profit at Rs 5,212 crore.
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Tata Power Chairman Natarajan Chandrasekaran said at the company's annual general meeting on Tuesday that the company plans to expand its solar equipment manufacturing capacity with a new 10 GW project in Odisha, which will be formally announced in the coming months.
The company currently operates 4.3 GW of solar cell and module manufacturing capacity at Tirunelveli, Tamil Nadu. Including the Bengaluru plant, this combined capacity stands at 4.9 GW.
Responding to questions during the AGM, Chandrasekaran said, "The company aspires to achieve a profit of Rs 10,000 crore and a revenue of Rs 1 lakh crore by 2030. Tata Power today is leading the shift to an energy as a service approach by enabling residential and C&I customers to switch to clean and green solutions."
He explained that the company is expanding across all its business offerings, including generation, transmission, distribution, renewable energy, rooftop solar, EV charging, and manufacturing.
Chandrasekaran also informed that the company will expand its solar manufacturing operations, including ingots and wafers, through the new 10 GW project in Odisha.
The company continues to expand its round-the-clock green offerings with energy storage, Chandrasekaran said. Tata Power's generation portfolio, including pipeline projects, has crossed 26 GW capacity, with 66 percent of this capacity being clean and green, he added.
The company expects to have 30 GW capacity fully operational by 2030, of which 20 GW will be renewable energy.
On the company's potential entry into atomic energy, Chandrasekaran said Tata Power is open to a foray into nuclear power, particularly small modular reactors (SMRs).
He added that the company is also open to expanding its distribution footprint in states that come up for power distribution privatisation proposals.
Chandrasekaran further stated that the company has commissioned 2.5 GW of renewable energy projects and holds a strong pipeline of 5.1 GW. Tata Power serves over 13.1 million distribution customers across seven discoms in Delhi, Mumbai, Ajmer, and the entire state of Odisha. This year marks five years of the Odisha transformation.
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For the first time, all four Odisha discoms have started paying dividends, Chandrasekaran said. Aggregate technical and commercial (AT&C) losses were also reduced by 2 percent in FY26, taking the total reduction to 15 percent since the company's takeover.
