Indian Railway Finance Corporation Limited has informed the Exchange regarding a press release dated September 29, 2025, titled "Press Release- IRFC signs agreement with MAHAGENCO for ₹10,560 crore funding of Koradi Thermal Expansion Project".
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IRFC has signed a loan agreement with MAHAGENCO (Maharashtra State Power Generation Company) to fund up to ₹10,560 crore for the 2x660 MW supercritical expansion of Koradi Thermal Power Station in Nagpur, adding 1,320 MW of new capacity. The agreement was signed on September 29, 2025, at IRFC's headquarters in New Delhi. The Koradi project is strategically important for Maharashtra's power supply, replacing older, less efficient units. The deal also benefits Indian Railways indirectly because MAHAGENCO has long-term coal transport agreements with Railways, reinforcing IRFC's role as a diversified infrastructure financier beyond rail funding. IRFC recently received Infrastructure Finance Company (NBFC-IFC) status, supporting its expansion into power, mining, logistics, and other railway-linked sectors.
This is a sizeable financing deal for IRFC that diversifies its loan book beyond railways into the power sector, potentially boosting interest income and earnings. Positive for the stock as it demonstrates execution of IRFC's expanded infrastructure financing mandate while maintaining its zero-NPA track record.