IRFC Extends ₹11.25 Billion Refinancing to NTPC-Railways Venture

Indian Railway Finance Corp. Ltd. has executed a refinancing facility of up to ₹11.25 billion for Bhartiya Rail Bijlee Co. Ltd., a joint venture between NTPC Ltd. and the Ministry of Railways, the financier said in an exchange filing on Thursday.

The refinancing support will cut financing costs for Bhartiya Rail Bijlee, strengthening its financial position while lowering the cost of electricity supplied to Indian Railways.

Incorporated in 2007, Bhartiya Rail Bijlee operates the 1,000-megawatt Nabinagar thermal power project in Bihar, with 90% of capacity reserved for Indian Railways and 10% allocated to the Bihar State Electricity Board.

Separately, IRFC  reported a 10.7% year-on-year rise in April–June net profit to ₹17.46 billion, driven by strong lease income.