Benchmarks
Nifty24,154.90-132.75

FEATURED FUNDS★★★★★

Motilal Oswal Midcap Fund Direct-Growth

5Y Return
23.3 %

Invest Now

Enter search text:

Business News›Industry›Energy›Oil & Gas›Mahanagar Gas eyes 1 million new PNG connections in FY27, capex raised

Read Today's Paper

Mahanagar Gas eyes 1 million new PNG connections in FY27, capex raised

Synopsis

Mahanagar Gas Ltd is increasing capital expenditure by twenty percent this financial year. The company plans to triple daily piped natural gas connections to three thousand. They are targeting one million new piped natural gas connections driven by government policies. This expansion aims to convert households from liquefied petroleum gas to piped gas. MGL is increasing infrastructure spend to expand its existing network.

New Delhi: Mahanagar Gas Ltd (MGL) is accelerating efforts to convert households to piped natural gas (PNG), increasing its planned capital expenditure by 20% to ₹1,800 crore in this financial year and potentially tripling its daily connections to 3,000.



The company is targeting a million new PNG connections, driven by government policies pushing the transition from liquefied petroleum gas (LPG). It is increasing infrastructure spend to expand its 8,477 km network and activate one million non-consuming connections.



Read more: Government fixes LPG production targets for refiners, Reliance gets largest share

The expansion comes on the back of strong operational momentum during the first quarter of the fiscal, when MGL achieved a record 97,461 domestic PNG conversions, and the company believes it can achieve the target if execution bottlenecks are removed.



"Our endeavour is to do maximum. So, we may go from 1,000 number a day to more than that as well to 3,000 also," MGL chief financial officer Rajesh Patel said on an earnings call.




Read more: Nagaland gets its first natural gas supply via National Gas Grid

The acceleration in connections and capex comes as government policy pushes the shift from LPG to piped gas, providing an opportunity to the company to rapidly expand consumption within its existing network.

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our WhatsApp channel)

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

(You can now subscribe to our WhatsApp channel)


Read More News on
Mahanagar GasPiped Natural GasPNG connectionscapital expenditureLPG transitionmahanagar gas ltd

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

Enter search text:

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

ET

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with
in-depth insights that matter

• 

  Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

  

  What Adani’s US indictment means for India Inc’s overseas fundraising

• 

  Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

  

  Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?

• 

  Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

  

  The problem with lab grown diamonds

• 

  Why a falling rupee is a better option for the economy

  

  A list of top 20 momentum stocks that have delivered massive returns in one year

2Invest Wisely With Smart Market Tools & Investment Ideas

Alpha Trade

Get daily trade ideas from SEBI-registered research analysts.

Investment Ideas

Grow your wealth with stock ideas & sectoral trends.

Stock Reports Plus

All-in-one stock research with Stock Score, peer comparison & key signals.

BigBull Portfolio

Get to know where the market bulls are investing to identify the right stocks.

Stock Analyzer

Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.

Market Mood

Analyze the market sentiments & identify the trend reversal for strategic decisions.

Stock Talk Live at 9 AM Daily

Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.

3Stay informed anytime, anywhere with ET ePaper

ePaper – Print View

Read the PDF version of ET newspaper. Download & access it offline anytime.

ePaper – Digital View

Read your daily newspaper in Digital View & get it delivered to your inbox everyday.

Wealth Edition

Manage your money efficiently with this weekly money management guide.

4Times Of India Subscription (1 Year)

ePaper

Read the PDF version of newspaper. Download & access it offline anytime.

Deep Explainers

Explore the In-depth explanation of complex topics for everyday life decisions.

Health+ Stories

Get fitter with daily health insights committed to your well-being.

Personal Finance+ Stories

Manage your wealth better with in-depth insights & updates on finance.

New York Times Exclusives

Stay globally informed with exclusive story from New York Times.

5Enjoy Complimentary Subscriptions From Top Brands

Docubay Subscription

Stream new documentaries from all across the world every day.

Stories you might be interested in