The Government of India has granted Navratna Central Public Sector Enterprise (CPSE) status to Indian Railway Finance Corporation (IRFC), making it the 26th company to receive this prestigious classification. The upgradation strengthens IRFC’s position as a key financial arm of the Ministry of Railways and provides it with greater autonomy in decision-making and expansion plans.
IRFC has showcased strong financial performance in FY 2023-24, reporting an annual turnover of ₹26,644 crore, a profit after tax (PAT) of ₹6,412 crore, and a net worth of ₹49,178 crore. The company plays a crucial role in financing railway infrastructure projects and rolling stock procurement.
The Navratna status allows IRFC to take strategic investment decisions without seeking government approval for certain financial limits, enabling faster project execution and improved financial efficiency. This move is expected to bolster IRFC’s market position, enhance its financial capabilities, and contribute significantly to the modernization and expansion of the Indian Railways network.
