Indian Railway Finance Corporation (IRFC), a central public sector enterprise under the Ministry of Railways, was granted the Navratna PSU status on Monday.
The central government approved the upgradation of IRFC to Navratna CPSE, the Department of Public Enterprises, under the Ministry of Finance, wrote on microblogging site X (formerly Twitter).
The Government has approved the upgradation of Indian Railway Finance Corporation (IRFC) to Navratna CPSE, making it the 26th #Navratna among CPSEs! IRFC is a Ministry of Railways CPSE with an annual turnover of ₹26,644 Cr, PAT of ₹6,412 Cr and a net worth of ₹49,178 Cr for FY… pic.twitter.com/fNxXzqyyRi
— Department of Public Enterprises (@DPE_GoI) March 3, 2025
IRFC becomes 26th Navratna CPSE
With the development, Indian Railway Finance Corp became the 26th Navratna company among the central public sector enterprises to hold the status.
A Ministry of Railways CPSE, IRFC provides leasing and financing to railway sector in the country.
What does the Navratna status mean for a PSU?
The grant of this coveted Navratna leads to enhanced delegation of powers, more operational freedom and financial autonomy, in turn giving huge impetus to a company’s progress.
IRFC Now A Navratna Company: Take a look at its earnings
IRFC registered a total net profit of Rs 6,412 crore in the financial year ended March 31, 2024, with annual turnover of Rs 26,644 crore.
Its net worth was recorded at Rs 49,178 crore for the financial year.
IRCTC Also Granted Navratna Status
Another railway PSU, Indian Railway Catering and Tourism Corporation (IRCTC) was also granted the Navratna status.
IRCTC is the only company authorised by Indian Railways to manage food services on trains and book online tickets. READ MORE ON IRCTC BECOMING NAVRATNA PSU
Union Railway Minister Ashwini Vaishnaw took to X to congratulate both companies.
Congratulations to team IRCTC and team IRFC on being upgraded to Navratna status. pic.twitter.com/IqgbTBOGbu
— Ashwini Vaishnaw (@AshwiniVaishnaw) March 3, 2025
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