Tata Power: Eventful Q3FY26 for transmission business

Tata Power had an eventful Q3FY26 with respect to its power transmission business, with important lines commissioned and a new project win.

As of December 31, 2025 (end of Q3FY26), Tata Power’s overall transmission portfolio grew to 7,311 ckm from 7,085 ckm, as of September 30, 2025.

This increase came about by the acquisition of Jejuri Hinjewadi Power Transmission Ltd, an intrastate scheme in Maharashtra, under the tariff-based competitive bidding route. This win is significant as it represents the first TBCB win for Tata Power in its home state Maharashtra where it has been a transmission licence with a track record of over 110 years.

The Jejuri Hinjewadi scheme has added 226 ckm of transmission lines to Tata Power’s overall transmission portfolio.

During Q3FY26, Tata Power also saw 79 ckm getting added to its operational transmission portfolio, which stood at 4,738 ckm, as of December 31, 2025.

However, the opening weeks of Q4 (January to March) of FY26 were even more eventful with a number of intrastate lines getting commissioned.

During Q3FY25 and the initial period of Q4FY26 (January 1, 2026 to around February 4, 2026), Tata Power commissioned the 400kV Koteshwar–Rishikesh line (ckm) and the 765kV Mainpuri-Bara and Mainpuri-Unnao transmission lines, aggregating 574 ckm. Both these cases are TBCB projects owned by wholly-owned subsidiaries of Resurgent Power Ventures, in which Tata Power has 26 per cent equity stake.

Commissioning of the Koteshwar-Rishikesh line resulted in full commissioning of the interstate-TBCB project that is housed under NRSS XXXVI Power Transmission Ltd, owned by Resurgent Power.

Speaking of Tata Power’s greenfield TBCB projects, the 400kV Metro Depot substation, part of TP Jalpura Kurjha Transmission Ltd, was commissioned and so was a LILO of 2-ckm associated with this project.

The six currently under-construction transmission projects of Tata Power are expected to see the company’s operational transmission portfolio surpass the 7,000-ckm mark by end of FY28 (March 31, 2028).

It is independently learnt that progress was made on Tata Power’s greenfield ISTS-TBCB project in Odisha, housed under TP Paradeep Transmission Ltd, with Central Electricity Regulatory Commission (CERC) very recently approving the transmission tariff and granting the transmission licence. However, the same milestones with respect to another scheme TP Gopalpur Transmission Ltd, also in Odisha, are yet to be crossed.

 

Distribution business

Each of the four Odisha discoms saw an improvement (reduction) in aggregate technical & commercial (AT&C) losses during the first nine months (9M: April to December) of FY26 compared with those in 9MFY25. Overall AT&C losses across the four discoms stood at 18.5 per cent in 9MFY26 as against 20.4 per cent in 9MFY25.

On the smart metering front, Tata Power installed around 5.75 lakh smart meters pan-India during Q3FY26, taking the cumulative installations to over 46.5 lakh as of December 31, 2025.

Tata Power’s distribution business is spread across Odisha (entire state), Delhi (northern region), Maharashtra (Mumbai and suburbs) and Rajasthan (Ajmer). As of December 31, 2025, Tata Power’s consumer base stood at little over 13 million, with Odisha dominating with nearly 10 million.

Also read: Tata Power commissions 574-ckm of 765kV lines in Uttar Pradesh, part of intrastate-TBCB project

Featured photograph (source: Tata Power) is for representation only