IRFC Secures Fifth Straight ‘Excellent’ DPE Rating Since Listing

05 Jan 2026 CW Team

Indian Railway Finance Corporation (IRFC), a Government of India Navratna CPSE under the administrative control of the Ministry of Railways, has been awarded an “Excellent” rating by the Department of Public Enterprises (DPE) for the financial year 2024–25. This marks the fifth consecutive year that IRFC has achieved the highest performance rating since its listing in FY 2020–21.

The sustained recognition highlights IRFC’s ability to navigate emerging challenges while maintaining institutional strength and delivering consistently strong performance. The DPE rating also underscores the company’s robust governance framework, operational efficiency and financial discipline, even as IRFC continues to evolve its business model in line with its expanded mandate.

During FY25, IRFC further strengthened and diversified its lending portfolio in a calibrated manner, aligned with a whole-of-Government approach. The company continued to focus on efficient financing of railway-linked infrastructure, while extending timely and cost-effective funding support across the broader railway ecosystem and other strategically linked sectors.

IRFC’s performance during the year reflected its ability to bring greater efficiencies in infrastructure financing while remaining firmly anchored to its core mandate of supporting Indian Railways. The company’s disciplined approach to capital allocation and risk management has enabled it to sustain high standards of performance amid a changing operating environment.

Since its listing, IRFC has consistently delivered strong financial and operational outcomes, reinforcing its role as a key financial arm of the Ministry of Railways. The fifth consecutive “Excellent” rating by DPE reaffirms IRFC’s position as one of the best-performing central public sector enterprises and highlights its continued contribution to the development of India’s railway infrastructure and allied sectors.

Infrastructure Transport

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