- With a revenue of over Rs 26,600 crore and a profit after tax exceeding Rs 6,400 crore as of March 31, 2024
- IRFC is now the third-largest government NBFC in India
Kolkata : Indian Railway Finance Corporation (IRFC), a key financial institution under the Ministry of Railways, has been awarded the prestigious Navratna status by the Government of India. This recognition marks a significant milestone in IRFC’s journey as one of the Central Public Sector Enterprises (CPSE) supporting India’s railway infrastructure.
Established on December 12, 1986, as a 100% government-owned entity, IRFC has been instrumental in financing the expansion and modernisation of Indian Railways. Over the years, it has evolved into a major financial player, registering as a Public Financial Institution under the Companies Act in 1993, an NBFC under RBI in 1998, and later as an NBFC-Infrastructure Finance Company (NBFC-IFC) in 2010. In March 2018, it was granted Mini-Ratna Category-I status. The company was listed on stock exchanges in January 2021 at an IPO price of Rs 26, which has now surged to around Rs 140.
With a revenue of over Rs 26,600 crore and a profit after tax exceeding Rs 6,400 crore as of March 31, 2024, IRFC is now the third-largest government NBFC in India. It has played a key role in funding nearly 80% of Indian Railways’ rolling stock and was the first CPSE to issue a 30-year tenor bond in overseas markets. As of December 31, 2024, IRFC has a market capitalization of over Rs 2,00,000 crore, an asset under management (AUM) of Rs 4.61 lakh crore, a net worth of around Rs 52,000 crore, and a balance sheet size of more than Rs 4.81 lakh crore.
Expressing his happiness on this achievement, Manoj Kumar Dubey, CMD & CEO of IRFC, said, “Receiving Navratna status is a reflection of IRFC’s financial strength and its commitment to supporting India’s railway infrastructure. This recognition further motivates us to expand our capabilities and contribute more meaningfully to the nation’s growth.”
Beyond its core role in railway asset financing, IRFC is expanding into sectors with strong forward and backward linkages to railways, such as power generation and transmission, mining, fuel, coal, warehousing, telecom, and hospitality. “We are committed to providing the most cost-effective financing solutions for capital-intensive railway projects.
