IRCTC wins bid for commercial space in New Delhi

Indian Railway Catering and Tourism Corporation emerged as a successful bidder in the e-auction held on 6 September 2022 for the sale of commercial built-up space in New Delhi.

The space is situated at WTC Nauroji Nagar in New Delhi. National Buildings Construction Corporation (NBCC), a Government of India enterprise under the Ministry of Housing and Urban Affairs India has requested the company to deposit the installation.

The company added that it has been requested to deposit the second installment of the payment within 72 hours of the close of the e-auction (in case the day of payment happens to be a Sunday or a bank holiday, then it shall be deposited on the next working day). The payment should be deposited in the Ministry of Housing & Urban Affairs account.

IRCTC, a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. The Government of India held 67.4% stake in the company, as on 30 June 2022.

IRCTC’s net profit surged to Rs 245.52 crore in Q1 FY23 from Rs 82.52 crore in Q1 FY22. Net sales zoomed to Rs 852.59 crore in the first quarter from Rs 243.37 crore recorded in the same period last year.

Shares of IRCTC rose 0.69% to Rs 711.50 on the BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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