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IRFC Q3 FY26: AUM Hits ₹4.75 Lakh Cr, Targets ₹8 Lakh Cr by 2030 with 3x Higher Margins
IRFC reported a strong Q3 FY26, with Assets Under Management (AUM) growing to ₹4.75 lakh crore and a clear roadmap to reach ₹8 lakh crore by 2030. The company is successfully diversifying into the broader railway ecosystem, where new assets offer margins 2x to 3x higher than traditional lending to Indian Railways. Management has already surpassed its annual sanction guidance and achieved 75% of its ₹30,000 crore disbursement target for the year. Despite new RBI-mandated standard asset provisioning of ₹50 crore, the company maintains a zero NPA status and expects consistent growth in PAT and NIM.
Key Highlights
AUM increased to ₹4.75 lakh crore in Q3 FY26, with a near-term target to exceed ₹5 lakh crore.
New non-railway ecosystem projects are yielding margins of 100-120 bps, compared to the traditional 40 bps from Indian Railways.
The 2030 vision targets a 60-40 portfolio mix between Indian Railways and the wider railway ecosystem to boost overall yields.
Achieved 75% of the ₹30,000 crore annual disbursement target and surpassed the annual asset sanction guidance.
Maintained zero NPAs while successfully raising low-cost funds via Yen-denominated ECBs and zero-coupon bonds.
💼 Action for Investors
Investors should focus on the successful transition to 'IRFC 2.0' which prioritizes higher-margin ecosystem lending over traditional low-spread railway financing. The stock remains a strong long-term play due to its zero-NPA status and sovereign-backed growth trajectory.