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Indian Railway Finance Corporation has sanctioned and executed agreements for a fresh term loan of Rs 199.70 crore with Surat Integrated Transportation Development Corporation (SITCO) for developing India's first multi-modal transport hub in Surat.
The Surat MMTH, being developed by SITCO'a joint venture between the Ministry of Railways and the Government of Gujarat'is designed to integrate multiple modes of transport and improve passenger connectivity in the city. IRFC's funding will support construction components, strengthen the project's financial viability, and ensure long-term sustainability.
Indian Railway Finance Corp.'s principal business is to borrow funds from the financial markets to finance. The Government of India held an 86.36% stake in the company as of 30 June 2025.
The company's standalone net profit rose by 10.70% to Rs 1,745.69 crore in Q1 FY26 as against Rs 1,576.83 crore posted in Q1 FY25. Total revenue from operations increased by 2.21% year-on-year (YoY) to Rs 6,915.38 crore in the quarter ended 30 June 2025.
The scrip rose 0.16% to Rs 127 on the BSE.
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