Pankaj Pandey has been appointed as the new Director (Operations) at Power Grid Corporation of India Limited (PGCIL), succeeding current Director Naveen Srivastava. According to a regulatory filing by Power Grid, the Ministry of Power formally conveyed the appointment through an order dated 30 October 2026. Pandey's appointment will take effect from December 1, 2026, coinciding with Srivastava's superannuation date of November 30, 2026.
A veteran of the power sector, Pandey brings approximately three decades of experience specifically within India's power transmission industry. He has steadily climbed the ranks at Power Grid over his extensive career, currently serving as the Executive Director (TBCB) at the company. Pandey has previously served as the company's Chief General Manager from 2020 to 2022 before assuming his current role as Executive Director in September 2023. Pandey currently operates out of Gurugram, Haryana, where PGCIL's corporate headquarters is located.
The official appointment follows a comprehensive selection process by the Public Enterprises Selection Board (PESB). On 29 August 2026, the PESB recommended Pandey's name to the Appointments Committee of the Cabinet (ACC) for final approval after interviewing a total of 12 candidates for the position. Pandey's tenure in the operational leadership role will continue until his own superannuation date on 30 June 2030 or until further orders are issued, whichever is earlier.
Power Grid Corporation of India has posted an over 8% year-on-year rise in its consolidated net profit at ₹3,866.16 crore in the September quarter. The company reported a consolidated net profit of ₹3,566.08 crore for the quarter ended 30 September 2025, according to an exchange filing. Total income rose to ₹12,055.11 crore in the quarter from ₹11,670.24 crore in the same period last year. The company's board also approved payment of the first interim dividend of ₹3 per equity share for the financial year 2026-27, with the record date set for Friday, 6 November 2026 and the dividend payment scheduled for Monday, 30 November 2026.
At the end of Q2FY27, the company maintained an average transmission system availability of 99.81%. The total transmission assets of the company and its subsidiaries stood at 1,87,576 ckm of transmission lines, 293 substations and 6,49,116 MVA of transformation capacity. Power Grid's Gross Fixed Assets on a consolidated basis stood at ₹3,29,852 crore (including Gross Lease Receivables) as on 30 September 2026. The company incurred capital expenditure of ₹16,864 crore and capitalised assets of ₹9,300 crore on a consolidated basis till 30 September 2026.
