Power Grid Corporation of India has increased its capital expenditure guidance for FY26 to ₹35,000 crore, compared with ₹32,000 crore indicated earlier. The company also revised its capitalisation target to ₹25,000 crore from ₹22,000 crore, according to a filing dated March 23, 2026.
The revision comes after spending in the current year moved ahead of earlier estimates. As of March 22, 2026, capex stood at ₹35,540 crore, which is about 102% of the latest guidance. Capitalisation during the same period was reported at ₹22,749 crore, or roughly 91% of the revised target.
The company reported that project execution remained steady across key contracts. It indicated that progress on ongoing projects allowed spending to continue without major disruption, despite operational constraints in some locations.
Power Grid’s order book remains sizeable, with works in hand exceeding ₹1.48 lakh crore. In addition, the company has indicated a longer-term opportunity pipeline of over ₹15 trillion in the transmission segment.
Investment in transmission infrastructure continues to be linked to rising electricity demand and the addition of renewable energy capacity. Grid expansion and integration requirements are also contributing to higher spending across the sector.
For the next 2 financial years, the company has outlined a capex plan of around ₹82,000 crore for FY27 and FY28 combined. Annual spending levels are expected to increase further based on existing projects and upcoming allocations.
In February, the government approved a revision in delegation of powers under Maharatna guidelines.
The equity investment limit per subsidiary has been increased to ₹7,500 crore from ₹5,000 crore, while the overall cap remains at 15% of net worth.
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Following the announcement, the stock saw marginal movement. Power Grid Corporation of India share price rose more than 2% from the day’s low and were trading 0.15% higher at ₹298.05 as of 11:19 am on March 23. Over a 6-month period, the stock has gained slightly over 3%.
The updated capex target aligns with recent spending trends and project progress. The order book and pipeline remain in place for upcoming periods.
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Published on: Mar 23, 2026, 2:48 PM IST
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