New Delhi: Indian Railway Finance Corporation Limited (IRFC), a Navratna Central Public Sector Enterprise (CPSE) under the administrative control of the Ministry of Railways, has been rated “Excellent” by the Department of Public Enterprises (DPE) for the financial year 2024–25. This marks the fifth consecutive year IRFC has achieved the highest performance rating since its listing in FY 2020–21, underscoring its sustained operational and financial strength.
Consistent Excellence Amid Emerging Challenges
The “Excellent” rating reflects IRFC’s ability to navigate emerging challenges while maintaining institutional strength, operational efficiency, and financial discipline. The recognition also highlights the organisation’s evolution in its business model to meet an expanded mandate and its ability to deliver consistent high performance.
During FY 2024–25, IRFC strengthened and diversified its lending portfolio in a calibrated manner, in line with its mandate and a whole-of-Government approach. The company has successfully improved efficiencies in railway-linked infrastructure financing while providing timely and cost-effective funding support to the railway ecosystem and strategically linked sectors.
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Chairman & Managing Director Comments
Manoj Kumar Dubey, Chairman & Managing Director of IRFC, said:
“The ‘Excellent’ rating for the fifth consecutive year since listing is a strong endorsement of IRFC’s institutional robustness, strategic clarity, and execution capabilities. Even as IRFC has transitioned into its IRFC 2.0 phase, the organisation has demonstrated its ability to brace challenges and deliver superior performance.”
He further added that under IRFC 2.0, the corporation is focusing on selective deployment of capital in high-quality assets aligned with its mandate and risk framework. Dubey highlighted that IRFC had already achieved its annual sanction guidance of ₹60,000 crore for FY 2025–26 by the end of Q3, demonstrating strong momentum and disciplined growth.
“We remain committed to enhancing financing efficiency and supporting the railway ecosystem and related national infrastructure development,” Dubey stated.
IRFC’s Role in India’s Railway Development
Established in 1986 as the dedicated financing arm of the Ministry of Railways, IRFC plays a central role in mobilising resources for the development and modernisation of India’s railway infrastructure. Its operations have been pivotal in ensuring timely funding support for railway projects and related national infrastructure initiatives.
The DPE’s rating reinforces IRFC’s robust governance framework, financial discipline, and strategic focus, establishing it as a benchmark for CPSE performance excellence.
About IRFC
Indian Railway Finance Corporation (IRFC) is the dedicated financing arm of Indian Railways, responsible for raising funds and providing financial solutions for railway projects across the country. Established to ensure efficient and timely funding, IRFC plays a crucial role in enabling large-scale projects like freight corridors, modern coaches, and infrastructure expansion.
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