Govt upgrades IRCTC & IRFC to Navratna status. (PM Modi in picture waving off passengers) (Image used for representation purpose only) | X/ @Ashiwni Vaishnaw
The government has approved the upgradation of Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) as Navratna companies. With this, IRCTC has become the 25th and IRFC the 26th Navratna among Central Public Sector Enterprises (CPSEs).
Union Minister of Railways Ashwini Vaishnaw congratulated Team IRCTC and IRFC on achieving Navratna status. He stated, “We are happy to share that all seven listed PSUs of Indian Railways have now attained Navratna status, a milestone achieved post-2014.”
The minister highlighted the timeline of other Railway PSUs achieving the status:
CONCOR: July 2014
RVNL: May 2023
IRCON & RITES: October 2023
RailTel: August 2024
IRCTC & IRFC: March 2025
He termed this a major achievement, reflecting Prime Minister Narendra Modi’s focused efforts in transforming Indian Railways. He also expressed gratitude to the Finance Minister for the recognition.
IRCTC: A Leader in Travel & Hospitality
IRCTC, a CPSE under the Ministry of Railways, reported an annual turnover of ₹4,270.18 crore, a Profit After Tax (PAT) of ₹1,111.26 crore, and a net worth of ₹3,229.97 crore for FY 2023-24. The Navratna status comes at a significant moment as IRCTC celebrates 25 years of excellence in catering, tourism, and online ticketing services in 2025. This recognition underscores its operational excellence in the hospitality, travel, and tourism sector.
With its upgraded status, IRCTC can expand its footprint and enhance its service offerings in travel, tourism, and hospitality.
IRFC: Powering Railway Infrastructure
Indian Railway Finance Corporation (IRFC), a key financial institution under the Ministry of Railways, has also been awarded the prestigious Navratna status. This marks a significant milestone in its journey as a CPSE supporting India’s railway infrastructure.
Established on December 12, 1986, as a 100% government-owned entity, IRFC has played a crucial role in financing the expansion and modernization of Indian Railways. With a revenue of ₹26,644 crore and a PAT of ₹6,412 crore as of March 31, 2024, IRFC is now the third-largest government NBFC in India.
Benefits of Navratna Status
Being a Navratna company provides IRCTC and IRFC with several advantages:
Financial Autonomy
Can form joint ventures, subsidiaries, and enter into mergers or acquisitions without direct government intervention.
Operational Freedom
Greater flexibility in business and investment decisions, allowing competition with private sector firms.
Freedom in HR management, including hiring professionals at market-driven salaries.
Global Expansion
Can enter international markets, form strategic alliances, and expand without bureaucratic constraints.
Stronger Market Position
Enhanced financial stability boosts investor confidence.
Strong financial performance enables better returns for shareholders.
