The central government on Monday (03.03.2025) granted Navratna status to two railway public sector undertakings (PSUs), Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC).
With this, IRCTC has become the 25th and IRFC the 26th Navratna among Central Public Sector Enterprises (CPSEs).
IRCTC, a CPSE under the Ministry of Railways, was established in 1999 and reported an annual turnover of ₹4,270.18 crore, a profit after tax of ₹1,111.26 crore, and a net worth of ₹3,229.97 crore in FY 2023-24. The company handles online ticket booking, catering, and tourism services for Indian Railways.
Similarly, IRFC, another CPSE under the Ministry of Railways, reported an annual turnover of ₹26,644 crore, a profit after tax of ₹6,412 crore, and a net worth of ₹49,178 crore in FY 2023-24. Established in 1986, IRFC is responsible for raising funds for Indian Railways’ expansion and modernisation projects by borrowing from domestic and international markets.
With Navratna status, both companies will now have greater financial autonomy, enabling them to invest up to ₹1,000 crore without requiring government approval. This move is expected to help them make quicker business decisions and enhance efficiency.
