Adani Power Posts 134% Profit Jump in Q2 FY27
Adani Power reported a net profit of Rs 6,919 crore for the second quarter of FY27, a rise of 134% year-on-year, with revenue growing 45% over the same period. The results were reported on 22 and 23 October 2026 by multiple outlets including inkl and Urban Acres, following an announcement by Adani on 22 October 2026.
No further breakdown of revenue, capacity additions or operational drivers was available from the headlines alone. The figures corroborated across outlets are the 134% profit growth, the Rs 6,919 crore profit, and the 45% revenue increase.
Key Financial Summary
| Metric | Reported Figure | Basis |
|---|---|---|
| Net Profit, Q2 FY27 | Rs 6,919 crore | Corroborated by two outlets |
| Year-on-Year Profit Growth | 134% | Corroborated by two outlets |
| Revenue Growth (YoY) | 45% | Reported by inkl |
India's Thermal Power Project Pipeline: Where Activity Is Concentrated
Adani Power's results come against a backdrop of sustained capital investment in thermal power across India. Projects India tracks 1,248 thermal-based power projects nationally, with seven added to the database in the last 90 days.
By state, the highest concentrations of tracked thermal power projects are in Odisha (132 projects), Chhattisgarh (131), Madhya Pradesh (100), Andhra Pradesh (97), Maharashtra (96) and Tamil Nadu (95). Suppliers and contractors focused on thermal generation capacity will find the densest opportunity clusters in eastern and central India, particularly Odisha and Chhattisgarh.
The stage breakdown of these 1,248 tracked projects reveals where near-term procurement activity is most likely. The largest cohort — 501 projects — is currently under approvals, representing a substantial pipeline of work that has not yet moved to procurement or construction. A further 142 projects have construction started, indicating active on-site demand for equipment, civil contractors and O&M services. An additional 95 projects are at planning stage, while 81 are on hold.
Recent Tracked Projects in the Thermal Sector
Among the recently active projects in the Projects India database, several large-value schemes are at construction or approvals stage:
- GMR Warora Energy Limited is progressing a Rs 11,331 crore coal-based thermal expansion at Warora, Maharashtra — construction has started.
- JSW Energy Limited is developing a Rs 16,000 crore thermal power plant at Salboni, Paschim Medinipur, West Bengal — construction has started.
- Damodar Valley Corporation has a Rs 11,000 crore new thermal project at Raghunathpur, West Bengal at construction stage, and a separate project at Chandrapura, Jharkhand with approvals received.
- NTPC Limited is pursuing a Rs 2,901 crore expansion at Unchahar, Uttar Pradesh, currently under approvals.
- Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited has received approvals for the Rs 8,777.71 crore Obra-C project at Sonbhadra, Uttar Pradesh.
- Vedanta Limited is seeking approvals for a Rs 5,209 crore thermal power plant expansion at Tehsil, Dabhara, Chhattisgarh.
- GMR Kamalanga Energy Limited has approvals received for a Rs 7,500 crore Phase II expansion at Kamalanga, Dhenkanal, Odisha.
These projects span a combined disclosed value well in excess of Rs 60,000 crore and sit across the approvals and construction stages, pointing to near- and medium-term procurement demand across boiler, turbine, civil, electrical and O&M categories. For broader context on power sector activity, see the Projects India power sector overview.
What this means for suppliers and contractors
Adani Power's strong Q2 FY27 performance signals continued financial capacity within one of India's largest private thermal power operators. While the results themselves do not confirm new project announcements, a financially robust promoter typically sustains or accelerates capital expenditure cycles. Suppliers with existing or prospective relationships in the Adani ecosystem may use this as a reference point for their engagement calendars.
More broadly, the 501 thermal projects currently under approvals nationally represent the most significant forward-looking opportunity pool for the supply chain. Projects at this stage are typically 12 to 36 months away from active procurement, making now the right time for suppliers to establish positioning with promoters such as NTPC, DVC, GMR, JSW Energy and state utilities. The 142 projects already at construction stage represent immediate demand.
Odisha and Chhattisgarh together account for 263 of the 1,248 tracked projects — more than one in five — making them priority geographies for equipment logistics, erection contractors and O&M firms. Recent O&M contract activity in the Adani portfolio further illustrates how operational assets in this sector continue to generate procurement events beyond the construction phase.
Suppliers tracking the intersection of large-capacity thermal additions and state-level regulatory progress should also follow India's broader 100 GW thermal capacity planning context, which shapes the long-run demand environment for the entire sub-sector.
Frequently asked questions
What profit did Adani Power report for Q2 FY27?
Adani Power reported a net profit of Rs 6,919 crore for Q2 FY27, a rise of 134% year-on-year. Revenue also grew 45% over the same period. These figures were reported by multiple outlets on 22 and 23 October 2026.
How many thermal power projects are currently tracked in India?
Projects India tracks 1,248 thermal-based power projects across India. Of these, 501 are under approvals, 142 have construction started, and 95 are at planning stage, with the highest concentrations in Odisha, Chhattisgarh and Madhya Pradesh.
Which states have the most thermal power projects in India?
Based on Projects India data, Odisha leads with 132 tracked thermal power projects, followed by Chhattisgarh (131), Madhya Pradesh (100), Andhra Pradesh (97), Maharashtra (96) and Tamil Nadu (95).
