“It is the year-on-year growth of this solar giant in all sections, which has successfully landed it (Ujaas Energy) among the top 5 of India’s fastest growing companies in Rs 250 crore-Rs 999 crore revenue category”, Naina Sood of Businessworld states in the article titled Ujaas Energy: Power Play. The magazine cited robust revenue and profit growth of 69% and 108% respectively for the ranking.
With a market cap of ₹770-crore (as on April 5th, 2017), Ujaas is one of the biggest players in Solar Business. The company has a capacity of 40-50 MW which is expected to grow to 200 MW this year. Ujaas recorded a healthy revenue growth of 60% and profit growth of 118% as it won bids from Airport Authority of India and Indraprastha to grow its client list which includes NTPC, NALCO among others.
Adding to key projects Ujaas Park and Ujaas MySite, Ujaas ventured into the residential solar market by launching Ujaas Home which offers residential solar installations and services. “There is no one in the organised space offering this service. It is a very nascent market and we are coming up at the national level,” the magazine quoted Mr Vikalp Mundra, Joint MD and promoter of Ujaas Energy Ltd.
“When the national solar mission was launched, it had a target of 20,000 MW till 2022. Prime Minister Modi turned this into 100 GW, almost five-fold,” Mr Vikalp told the magazine the reason for his optimism on the Solar Power business.
“It has managed to keep its costs optimised and become one of the fastest growing companies in the solar space,” the magazine stated. To grow a business which inherently targets a greener future has always been a matter of immense pride for Ujaas and the accolades it receives only deepen that commitment. It is just the beginning of the journey and have a long way to go to make India a greener place to live.
Note: The Businessworld article titled ‘Ujaas Energy: Power Play’ was authored by Naina Sood and published on the magazine’s website on March 31, 2017. Read the whole article at http://businessworld.in/article/Ujaas-Energy-Power-Play/31-03-2017-115515/