Indian Railway Finance Corporation (IRFC), a key financial arm under the Ministry of Railways, has been granted the prestigious Navratna status by the Government of India. Following this recognition, Manoj Kumar Dubey, CMD & CEO of IRFC, officially unveiled the Navratna status logo in New Delhi.
This achievement marks a major milestone in IRFC’s journey as a Central Public Sector Enterprise (CPSE) supporting India’s railway infrastructure. Established on December 12, 1986, as a fully government-owned entity, IRFC has played a pivotal role in financing the expansion and modernization of Indian Railways.
Over the years, IRFC has grown into a major financial institution, attaining Public Financial Institution status under the Companies Act in 1993, registering as an NBFC under the RBI in 1998, and later being classified as an NBFC-Infrastructure Finance Company (NBFC-IFC) in 2010. It was awarded Mini-Ratna Category-I status in March 2018 and was listed on the stock exchanges in January 2021 at an IPO price of ₹26, which has since surged to approximately ₹140.
With a revenue exceeding Rs. 26,600 crore and a profit after tax surpassing Rs. 6,400 crore as of March 31, 2024, IRFC stands as India’s third-largest government-owned NBFC. The corporation funds nearly 80% of Indian Railways’ rolling stock and was the first CPSE to issue a 30-year tenor bond in international markets. As of December 31, 2024, IRFC boasts a market capitalization of over Rs. 2 lakh crore, an asset under management (AUM) of Rs. 4.61 lakh crore, a net worth of approximately Rs. 52,000 crore, and a balance sheet size exceeding Rs. 4.81 lakh crore.
Expressing his delight over this accomplishment, CMD & CEO Manoj Kumar Dubey remarked, “The Navratna status is a testament to IRFC’s financial strength and unwavering commitment to railway infrastructure. This recognition further motivates us to enhance our capabilities and contribute more significantly to India’s economic growth.”
Beyond its core role in railway financing, IRFC is diversifying into sectors with strong synergies, including power generation and transmission, mining, fuel, coal, warehousing, telecom, and hospitality.
IRFC has already secured funding for 20 BOBR rakes worth Rs. 700 crore for NTPC and was recently declared the lowest bidder to finance a Rs. 3,190 crore loan for Patratu Vidyut Utpadan Nigam Limited (PVUNL), a subsidiary of NTPC.
Additionally, NTPC Renewable Energy Limited (NTPC REL), a subsidiary of NTPC Green Energy Limited (NTPC GEL), has accepted IRFC’s bid to finance a Rs. 7,500 crore Rupee Term Loan (RTL) against its Request for Proposal.
The company is also exploring opportunities to fund rolling stock requirements for Indian Railways, container train operators, renewable energy projects, Metro Rail initiatives, port rail connectivity, and Public-Private Partnership (PPP) projects sanctioned by Indian Railways.
“We remain committed to providing cost-effective financial solutions for capital-intensive railway projects. With India progressing toward a $10 trillion economy during Amrit Kaal, IRFC will play an even more vital role in mobilizing resources for infrastructure expansion and modernization,” Dubey added.
With its robust financial foundation and strategic vision, IRFC continues to be at the forefront of financing India’s railway infrastructure, ensuring sustainable growth and long-term value for stakeholders.
