JSW Steel to Invest Over ₹30,000 Crore in Fresh Capex, Total Pipeline Reaches ₹1.31 Lakh Crore

According to the company’s latest investor presentation released after its first-quarter (Q1) earnings, the investments will be deployed over the next four to five years to strengthen production capacity and expand value-added steel operations.   The largest allocation of ₹26,000 crore has been earmarked for the Phase-II expansion of JSW Vijayanagar Metallics Ltd (JVML), with commissioning targeted by FY30. Additionally, the company will invest ₹2,000 crore in infrastructure for the Dolvi Phase-III expansion, which is expected to increase the plant’s annual steelmaking capacity from 10 million tonnes per annum (MTPA) to 15 MTPA by September 2027.      JSW Steel has also set aside ₹2,367 crore for downstream value-added product facilities across multiple manufacturing locations to enhance production capabilities.

Apart from these new projects, the company has allocated ₹3,272 crore towards sustenance capex. Combined with the ₹96,888 crore investment pipeline carried forward as of April 1, 2026, JSW Steel’s total planned capital expenditure now stands at ₹1,30,528 crore.

For FY27, the company expects to incur capital expenditure of ₹22,000–24,000 crore, having already spent ₹4,869 crore during the April–June quarter.   JSW Steel reported a strong financial performance for the first quarter of FY27, with consolidated net profit more than doubling to ₹4,651 crore, compared with ₹2,184 crore in the corresponding quarter of the previous fiscal year.   The company’s consolidated revenue from operations rose 9.77% year-on-year to ₹47,364 crore, up from ₹43,147 crore in the same quarter last year, supported by improved operational performance and higher revenues.