Waaree Renewable Technologies (WRTL), the engineering, procurement, and construction (EPC) arm of the Waaree Group, plans to diversify its operations further into data centres and battery energy storage systems as it looks to expand its clean energy portfolio, the company’s Chief Financial Officer Manmohan Sharma told FE.
Presently, the company’s orderbook stands at 3.4 gigawatt (GW), which it plans to execute in the next 12-15 months. Waaree Renewable’s present bidding pipeline remains robust at over 27 GWp, Sharma said.
In the first half of the current fiscal 2025-26, the company has executed 1.6 GW of projects and has crossed Rs 1,377.97 crore of revenue during the period.
“We have already crossed around 85% of our last year’s capacity. Our ability to scale up operations is further supported by financial discipline,” Sharma said.
Sharma noted that going ahead, the company will continue to actively participate in bidding of government projects as well.
The company will also be setting up 28 MWp solar power plants (14 MWp each) at two locations in Maharashtra as a bid to expand its Independent Power Producer (IPP) segment. It will also set up another 37.5 MWp IPP solar power plant at Bikaner, Rajasthan, at an estimated cost of Rs 3-3.5 crore per megawatt (MW).
“Probably during this year, maybe next quarter, it will span out and will be operational,” Sharma said, adding that the company will continue to expand its operations and maintenance portfolio too.
When asked about Waaree’s plan to enter into the nuclear EPC segment, Sharma said the company has so far not put any thought on the matter as it’s a complex subject which will require heavy capital investment.
“Our order inflow has improved very significantly and our execution has also improved,” Sharma said.
The company reported its highest ever quarterly revenue of Rs 774.78 crore for Q2FY26, compared to Rs 524.47 crore in Q2 FY25, delivering a robust growth of 47.73%. Its net profit grew 117.4% on year to Rs 116.34 crore.
As a subsidiary of Waaree Energies, WRTL finances, constructs, owns, and operates solar projects across geographies for commercial and industrial customers.
Further, the company is also building sub-stations and transmission lines for specific solar power projects.