Manoj Kumar Dubey, CMD of Indian Railway Finance Corporation (IRFC), said the company is targeting double-digit profit growth every quarter and expects steady performance over the next five years.

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CNBCTV18·author

Published Oct 16, 2025 | 5:37 AM GMT-04

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Manoj Kumar Dubey, CMD of Indian Railway Finance Corporation (IRFC), said the company’s new IRFC 2.0 strategy is helping it grow beyond traditional railway financing. The plan focuses on projects linked to the railway ecosystem, such as port connectivity and power supply, allowing IRFC to diversify while maintaining a low-risk, government-backed business model.

Under this strategy, the company has already sanctioned ₹45,000 crore in the first half of 2025-26 (FY26), putting it on track to exceed its annual guidance. The disbursement target of ₹30,000 crore is also likely to be met or surpassed.

Dubey highlighted the company’s focus on improving yields and margins, stating that the net interest margin (NIM) has risen and new projects are generating better returns. He said IRFC aims for double-digit profit growth every quarter, with consistent performance expected over the next five years.

While Indian Railways remains a key client, IRFC’s growth is increasingly coming from other railway-linked projects, reducing dependence on direct railway funding. “We are very confident that with zero risk of prepayments… our PAT and revenue both will be growing steadily,” he added, outlining a roadmap for steady asset growth and profitability.

IRFC, a government-owned railway financing company, also reported its July-September quarter of 2025 (Q2FY26) earnings on October 15. Revenue fell 7.6% year-on-year (YoY) to ₹6,372 crore, down from ₹6,899 crore in the same quarter last year. However, net profit rose 10% to ₹1,777 crore, while the net interest margin (NIM) slightly improved to 1.55% from 1.53% in the previous quarter.

The company also announced an interim dividend of ₹1.05 per share (face value ₹10), with a record date of October 24 for shareholders.

The market capitalisation of Indian Railway Finance Corporation (IRFC) is around ₹1,62,768 crore. Over the past year, its shares have fallen nearly 18%.