NHPC Share Price Target 2025, 2030, and 2040: Hydropower Growth & Renewable Energy Future » InvestingCube

NHPC Share Price Target 2025: Near-Term Drivers & Project Commissioning Timeline

NHPC:NSE is the stock ticker of the company previously known as the National Hydro Electric Power Company Limited (1975 to 2008), before the change of name to NHPC Limited. The company is not listed in the Nifty 50 index. The near-term drivers of the share price of NHPC are expectedly centred around the commissioning of several energy projects. These drivers are as follows:

• The boost of generating capacity of projects that are already online and which are generating revenue for the company. The Parbati-II 800MW plant reached full commissioning in April 2025 and now has revenue generating status that will be relevant to the FY2026 earnings report.
• Furthermore, the Karnisar solar plant that has a 300MW generating capacity reached full commissioning status in October 2025. All regulatory sign-offs are in place and the plant is expected to have near-term impact on revenues.
• Two units (Unit-1 and Unit-2) Subansiri Lower, a 2,000 MW capacity power plant, is now moving into the full commissioning phase in November 2025 after a 13-year delay. Subsequent units are expected to come on stream in March 2026. Faster phasing of this plant could have an impact on the NHPC share price target 2025 guidance.
• Quarterly earnings prints are starting to show some improvement in investor sentiment. Recent updates for the second quarter of the 2026 fiscal year indicate that revenue and profits-after-tax are starting to ramp northwards.
• Various multiples are being supported by increasing pipeline visibility, while fresh assets such as the Karnisar have secured regulatory approvals with improvements in collection apparati.

How have these factors impacted the outlook from institutional entities regarding the NHPC share price target for 2025? Here are some of the recent NHPC share price targets for 2025 from various banks and asset managers.

• JM Financial has a Buy recommendation and a INR 100 NHPC share price target for 2025, based on the Q4 2025 earnings results.
• ICICI Securities upgraded its recommendation from Sell to Reduce, setting a price target of INR 72 with a 1-year focus.
• In its April 2025 research report, Ventura adopted a Buy recommendation with a INR 118 target price.
• Prabhudas Lilladher has a BUY recommendation with a target price of INR 117, as per its analysis on the Economic Times recommendation panel.

NHPC Share Price Live Chart

NHPC Share Price Target 2030: Valuation Based on India’s 500GW Renewable Capacity Goal

Teesta-VI (Sikkim) is a 500MW project which was acquired from Lanco. It has a target commissioning date of 2027/2028 and is expected to have an impact on the earnings of subsequent years. This power plant will be relevant to the NHPC share price targets for 2030.

That being said, it must be pointed out that there are no institutional outlook pieces for the 2030 NHPC future share price. Any projections must follow the outline set out below, limiting the time phase under consideration to five years and not fifteen.

NHPC Share Price Target 2040: Long-term Outlook on Hydro & Green Energy Expansion

The Dibang (Arunachal) power plant is a futuristic 2800 MW power plant that has a projected COD somewhere around FY2032. This is a long-term project which will impact the NHPC share price 2040 outlook.

There are presently no institutional projections for the NHPC share price target 2040. Any price projections have to be modelled off the following parameters:

• Number of outstanding shares: 10.05 billion
• FY2025 Profit after tax: ₹3,084 crore
• Implied FY2025 earnings per share, which is derived by dividing the FY2025 PAT by the no. of outstanding shares ( ₹3,084 crore/10.05 billion) = ₹3.17
• P/E ratio which as of now, stands at 23x given the state of the current multiples. The assumptions are that Parbati-II, Subansiri Lower, Bikaner Solar and Dibang projects would all be operational by then.

Based on CAGR of 8%, 12% and 16% (for FY 2025-2030) and 5%,8% and 10% (for FY2030 – 2040) for the bear case, base case and bull case scenarios, the NHPC share price target projection is set at INR 103, INR210 and INR 368 (bear, base and bull cases), respectively.

NHPC’s Fundamental Strengths: Dividend Policy and Regulated Business Model

The fundamental strengths of NHPC Limited lie in its position as a key PSU, with strong connections to the capital expenditure profile of the Indian government with regards to improvement in the country’s energy infrastructure. For the full year 2020=2025, India budgeted ₹14.10 lakh crore for the power sector, encompassing power generation, transmission and distribution.

The National Infrastructure Pipeline (NIP) has a funding contribution of 39:40:21 from the Federal and state governments, as well as the private sector, respectively. A large chunk of this is powering the various power plants being built by NHPC. These are expected to provide long-term tailwinds that could power improved earnings and profit-after-tax well into the next decade.

Another fundamental strength is the company’s consistent dividend payment policy. The company has paid dividends consistently from 2021-2025, spending ₹9,110.85 crore in total dividend payments.

Reasons for Volatility: Why NHPC Share Price is Rising Today

The NHPC share price today is represented by a doji candle; a mark of market indecision. The price action remains volatile as analysts await any further updates as to the phasing of the new power plant units. The interim earnings report released a few days back (Nov 7, 2025) indicate a growth in revenue and earnings. However, changes to the NHPC share price target guidance for the near-term by ICICI Securities has created some near-term uneasiness among investors, hence the choppy price action.

Analysts’ Consensus: NHPC Share Price Forecasts & Investment Recommendations

The consensus of various institutional analysts has been posted above. However, additional NHPC limited share price forecasts come from other sources which are considered more retail-oriented, the so-called “street views”. Tradingview, AlphaSpread and Investing.com have put out NHPC share price NSE forecasts of INR 92.0, INR 93.8 and INR 91.6, respectively. The NHPC future share price forecasts of Investing.com is an average from 8 polled analysts.

Street views have a price target cluster of INR 90-120, which are mostly hinged on improvement in the phasing of the Subansiri plant, the flow-through effect from the Parbati-II and solar plants, and improved receivables, all of which will impact earnings in FY2026.

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