New Delhi: The government has granted Navratna status to Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC), recognising their financial performance and contribution to the railway sector. With this, IRCTC becomes the 25th and IRFC the 26th Navratna among Central Public Sector Enterprises (CPSEs).
The Department of Public Enterprises announced the decision on social media, confirming the upgradation of both railway PSUs. The new status grants them greater financial and operational autonomy, allowing them to invest up to ₹1,000 crore or 15 per cent of their net worth in a single project without prior government approval. It also enables them to form joint ventures and subsidiaries independently.
IRCTC, a CPSE under the Ministry of Railways, reported an annual turnover of ₹4,270.18 crore, a net profit of ₹1,111.26 crore, and a net worth of ₹3,229.97 crore for the financial year 2023-24. IRFC, which finances railway infrastructure projects, recorded a turnover of ₹26,644 crore, a net profit of ₹6,412 crore, and a net worth of ₹49,178 crore during the same period.
Following the announcement, IRCTC shares closed 0.75 per cent higher at ₹676.05, compared to ₹671.05 in the previous market close. However, IRFC shares declined by 1.11 per cent, closing at ₹111.15, down from ₹112.40.
Union Minister for Railways Ashwini Vaishnaw congratulated both firms, stating, “Congratulations to team IRCTC and team IRFC on being upgraded to Navratna status.”
Navratna status is awarded to PSUs that demonstrate strong financial and market performance. It grants them greater flexibility in decision-making and investment, strengthening their role in the country’s infrastructure development. The railway ministry now has the highest number of Navratna CPSEs, further reinforcing its leadership in the public sector.
BI Bureau
