This document is a regulatory filing submitted to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It contains the investor presentation for Q1FY27 (quarter ended 30-Jun-2026) that was to be presented in a webinar on 07th August, 2026 at 11:00 A.M (IST).

Operational Performance Highlights

  • Transmission Network: Maintains 1,86,595 circuit km of transmission lines across 1,595 lines and 6,34,516 MVA transformation capacity across 291 substations.
  • System Availability: Achieved 99.80% system availability in Q1FY27.
  • Project Commissioning: Commissioned major elements during the quarter, though specific circuit km or MVA details are not quantified in the disclosure.
  • Technology Development: Successfully developed a 132 kV Mobile GIS system indigenously; a 220 kV Mobile GIS is already in use.

Competitive Bidding (TBCB) & Project Pipeline

  • Cumulative Market Share: Holds ~47% cumulative tariff market share across all Inter-State Transmission System (ISTS) TBCB projects since inception.
  • FY27 Bidding Activity: Bid on 19 projects (ISTS + Intra-State (InSTS)) till July 2026, with success in 6 projects.
  • Annual Tariff: TBCB successes till July 2026 represent an annual tariff of > ₹2,200 Crore.
  • Landmark Project: Secured India's first Synchronous Condenser (SynCon) scheme under TBCB at Fatehgarh-II, marking its foray into a new asset class. The project involves two Synchronous Condenser units and associated 400 kV bays.
  • Total Works in Hand: Maintains a total project pipeline of ₹1,75,700 Crore, including Capital Work-in-Progress (CWIP) of ₹50,419 crore.
  • Composition: TBCB (₹1,46,315 Crore, 83%), Regulated Tariff Mechanism or RTM (₹25,168 Crore, 14%), Other Business including Smart Metering, Data Centre, Cross-Border, International, and BESS (₹4,217 Crore, 3%).
  • Bidding Pipeline: Has a future bidding pipeline of > ₹1.19 lakh crore.
  • Under Bidding (A): ₹73,875 crore (ISTS: 9 projects, ₹59,272 Crore; InSTS: 16 projects, ₹14,603 Crore).
  • To Be Floated (B): ₹45,620 crore.
  • Major projects under bidding include Rajasthan REZ Ph-IV (₹24,974 Cr), Jam Khambhaliya REZ Ph-II (₹7,688 Cr), and Lakadia REZ Phase-II (₹7,506 Cr).

Financial Performance (Consolidated)

(All figures in ₹ crore)

| Description | Q1FY27 | Q1FY26 | Variance (%) (Y-o-Y) | Q4FY26 | Variance (%) (Q-o-Q) |

| Income | | | | | |

| Transmission Charges | 10,905 | 10,620 | 3 | 10,820 | 1 |

| Consultancy Services | 391 | 329 | 19 | 582 | (33) |

| Telecom | 201 | 247 | (19) | 264 | (24) |

| Other Income | 200 | 248 | (19) | 305 | (34) |

| Total Income | 11,697 | 11,444 | 2 | 11,971 | (2) |

| Operating Expenses | (2,118) | (1,873) | 13 | (2,157) | (2) |

| Share of Net Profits/(Loss) of JVs | 2 | (44) | | 17 | |

| EBITDA - Gross Margin | 9,581 | 9,527 | 1 | 9,831 | (3) |

| Depreciation | (3,128) | (3,130) | - | (3,295) | (5) |

| Interest | (1,990) | (1,862) | 7 | (1,957) | 2 |

| Tax (Net of DA for DTL) | (865) | (904) | | (33)* | |

| Profit After Tax | 3,598 | 3,631 | (1) | 4,546 | (21) |

\* Reduction in tax expense by ₹832 crore in Q4FY2025-26 is due to measurement of deferred tax balances using applicable tax rates in view of the company's expected transition to the new tax regime.

Financial Performance (Standalone)

(All figures in ₹ crore)

| Description | Q1FY27 | Q1FY26 | Variance (%) (Y-o-Y) | Q4FY26 | Variance (%) (Q-o-Q) |

| Income | | | | | |

| Transmission Charges | 9,630 | 9,772 | (1) | 9,579 | 1 |

| Consultancy Services | 165 | 156 | 6 | 392 | (58) |

| Other Income | 1,575 | 1,329 | 19 | 1,984 | (21) |

| Total Income | 11,370 | 11,257 | 1 | 11,955 | (5) |

| Operating Expenses | (1,841) | (1,634) | 13 | (2,027) | (9) |

| EBITDA - Gross Margin | 9,529 | 9,623 | (1) | 9,928 | (4) |

| Depreciation | (2,925) | (2,970) | (2) | (3,096) | (6) |

| Interest | (2,482) | (2,232) | 11 | (2,397) | 4 |

| Tax (Net of DA for DTL) | (711) | (768) | | 118* | |

| Profit After Tax | 3,411 | 3,653 | (7) | 4,553 | (25) |

\* Reduction in tax expense by ₹829 crore in Q4FY2025-26 is due to measurement of deferred tax balances using applicable tax rates in view of the company's expected transition to the new tax regime.

Key Financial Position & Ratios (As on 30.06.26)

| Description | Standalone | Consolidated |

| Gross Fixed Assets\$ (₹ in crore) | 2,79,279 | 3,25,671 |

| Capital Work-in-Progress# (₹ in crore) | 6,673 | 50,419 |

| Debt (₹ in crore) | 1,45,586 | 1,45,586 |

| Net Worth (₹ in crore) | 1,03,392 | 1,04,028 |

| Earnings Per Share (₹) | 3.67 | 3.87 |

| Book Value per Share (₹) | 111.17 | 111.85 |

| Debt : Equity | 58:42 | 58:42 |

| Return on Net Worth (%) | 3.30 | 3.46 |

\# Includes Construction Advances; \$ Including Gross Lease Receivables

Other Key Financial Information (Q1FY27)

  • Income for previous periods (Consolidated): (₹22 crore)
  • Interest on differential tariff*: ₹22 crore
  • Interest from Subsidiaries & JVs*: ₹1,089 crore
  • Incentive (Consolidated): ₹123 crore
  • Dividend from JVs*: ₹17 crore
  • Dividend from Subsidiaries*: ₹254 crore
  • CSR Expenses*: ₹118 crore
  • FERV (Gross Block): ₹47 crore
  • Equity in TBCB - Operational*: ₹9,965 crore
  • Equity in TBCB - Under Construction*: ₹3,408 crore
  • Short Term Loan#: ₹1,600 crore

\* On Standalone basis; # Includes Bill Discounting

Subsidiary & Joint Venture Performance

  • PowerGrid TeleServices Limited (PowerTel): Reported total consolidated income (before inter-segment elimination) of ₹252 Crore in Q1FY27. Secured 34 orders in Q1, added 34 new customers, and achieved 100% backbone availability. Key wins include an ILD order for Nepal from a global OTT and a bulk order from NIC for the NKN project (cumulative capacity 2.3 Tbps).
  • Consultancy Business: Revenue from operations stood at ₹391 Crore in Q1FY27. The smart-meter business at PESL contributed ₹220 Crore. The consultancy arm secured 16 domestic orders and 3 new international orders/extensions in FY26, with a presence in 25 countries.

Strategic Initiatives & Partnerships

  • Green Financing: Partnered with Japan Bank for International Cooperation (JBIC) on a landmark Green Loan of JPY 80 billion.
  • Collections: Noted that robust collections continue.

Sustainability & Recognitions

  • The company demonstrated a sustained commitment to ESG (Environmental, Social, and Governance) principles.
  • Accolades Received:
  • McKeown Award conferred upon Director (Operations) at the IAM Global Asset Management Excellence Awards 2026.
  • NIXI Award conferred upon PowerTel for ISP with Maximum Traffic User.
  • PSE Technology and Innovation Award in the Enterprise Mobility Category by Indian Express.
  • FICCI DE&I Award for Innovative Diversity & Inclusion Practices.

Disclaimer & Forward-Looking Statements

The presentation includes standard disclaimers noting it is for information purposes only and not an offer to sell securities. It contains forward-looking statements subject to risks and uncertainties. The company assumes no obligation to update these statements. Annual Accounts for FY 2025-26 are yet to be approved by the shareholders.