National Hydro Electric Power Corporation Private’s (NHPC's) Director of Finance RP Goyal on Friday said the company expects to achieve Rs 15,000 crore in revenue and Rs 5,000 crore in profit after tax (PAT) in the next 5 years.

“In 2023-24, we will commission both Subansiri and Parbhati-II hydro projects, which are about 2,800 MW of capacity and the full financial benefit will be available for the company in FY24-25," he said while talking to CNBC-TV18

NHPC will be a 10,000 MW company by FY24-25. It also expects revenue to be around Rs 15,000 crore in the given period and PAT will be around Rs 5,000 crore.

While talking about hydro projects, he said, “Subansiri was standstill for 8 years, but now work is going on well in this project and 85 percent of the work has been completed. We are committed to commissioning this project by end of December 2023. Therefore, the full-year benefits will be available in FY24-25. For Parbhati-II, we have completed 95 percent of the work and this will also be commissioned by December 2023.”

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CLSA, after initiating coverage in September, has now gone ahead and increased the target price to Rs 55 for the stock and said that the hydropower is driven by a decadal growth opportunity led by India’s net zero pledge.

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(Edited by : Anshul)