IRFC Secures Navratna Status: A Financial Powerhouse Fueling India's Railway Expansion

Indian Railway Finance Corporation (IRFC) becomes India's third-largest government NBFC with revenue of over Rs 26,600 crore and profit exceeding Rs 6,400 crore. Awarded Navratna status, IRFC crucially funds Indian Railways and explores newer sectors, ensuring growth and modernization to support India's infrastructure goals.

Indian Railway Finance Corporation (IRFC), a pivotal financial arm under the Ministry of Railways, has earned Navratna status, positioning itself as India's third-largest government-owned non-banking financial company (NBFC). With a revenue surpassing Rs 26,600 crore and a profit over Rs 6,400 crore for the fiscal year ending March 31, 2024, IRFC stands out as a financial powerhouse.

IRFC's instrumental financial contributions support nearly 80% of Indian Railways' rolling stock. Its market capitalization soared to over Rs 2,00,000 crore, backed by assets under management (AUM) and a robust balance sheet. This evolution from its inception in 1986 reflects its strategic role in the railway's expansion and modernization.

Manoj Kumar Dubey, CMD & CEO, expressed pride in achieving the Navratna status, underscoring IRFC's commitment to bolstering India's railway infrastructure and venturing into sectors like power, mining, and hospitality. IRFC's financial prowess continues to stimulate growth, aligning closely with India's infrastructure development ambitions.

(With inputs from agencies.)