Who is Sanjay Banga? Meet Tata Power's new CEO, a Harvard alumnus with 37 years of power sector experience
Executive Brief • Key Highlights
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- ✓Tata Power announced on Wednesday that Sanjay Banga will become its new CEO and managing director.
- ✓Banga, who has 37 years of experience in the power sector, will start his five-year term on May 1, 2027.
- ✓He succeeds Praveer Sinha as the company reports a 49% rise in quarterly profit.
Story at a Glance
- Category
- Indian Markets
- Reported By
- mint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Tata Power, an electric utility and electricity generation company, on Wednesday announced the appointment of Sanjay Banga as its new chief executive officer (CEO) and managing director. Banga, whose career spans 37 years in the electricity sector, will begin his five-year term on May 1, 2027, succeeding Praveer Sinha.
His appointment comes at a time when the company reported a nearly 49% rise in second-quarter profit, helped by a recovery in power generation and growth in its renewable energy business. The company posted a 48.6% increase in consolidated net profit to ₹1,366 crore, up from ₹919 crore in the corresponding quarter last year.
He has held several key positions at Tata Power, including heading its transmission and distribution operations and serving as the chief executive of Tata Power Delhi Distribution. This included discoms performance across Orissa, Mumbai, Delhi, and Ajmer, the transmission business in Mumbai, Powerlink Transmission Limited, and the transmission assets in UP.
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