About the Company/Organisation
A Special Purpose vehicle, Indian Railway Stations Development Corporation Limited (IRSDC), a Joint Venture company of Rail Land Development Authority (RLDA), a statutory authority under the Ministry of Railways and Ircon International Limited (IRCON) (A Govt. of India Undertaking, under Ministry of Railways) was incorporated under the Companies Act, 1956 on 12th April, 2012. The Company has obtained a Certificate of Commencement of Business on 09th May 2012, from the office of Registrar of Companies. Ministry of Railway (MoR) had decided to transfer 1% equity stake of IRCON to RLDA to make IRSDC an equal ownership venture of IRCON and RLDA with a view to provide more autonomy to the Corporation. Consequently, the Equity stake of RLDA and IRCON in the company has now become in the ratio of 50:50. Thus, IRSDC had recently been restructured as a deemed Government Company to enable it to function as independent Board run company, with an Managing Director (MD) and Functional Directors. Presently, the authorized share capital of IRSDC is Rs.100 crores and the paid-up share capital is Rs. 40 crores.
Main Objectives of the Company (As per Memorandum of Association of IRSDC)
1. To develop/ re-develop the existing/new railway station (s) which will consist of upgrading the level of passenger amenities by new constructions/renovations including re-development of the station buildings, platform surfaces, circulating area, etc., to better standards so as to serve the need of the passengers.
2. To undertake projects for development of real estate on Railway/ Government land and its commercial utilization as may be required in connection with development of railway stations.
3. To undertake projects including planning, designing, development, construction, improvement, commissioning, operation, maintenance, and financing of projects and various services relating thereto including marketing, collecting revenues, etc. relating to railway stations and railway infrastructure and all matters relating thereto.
4. To carry on any railway infrastructure work including development of railway stations on Build-Operate-Transfer (BOT),Build-Own-Operate-Transfer (BOOT), Build-Lease- Transfer (BLT), etc. or otherwise or any other scheme or project found suitable in and related to the field of railway station infrastructure projects and other ancillary fields that may be assigned to or secured by the Company on its own or through its holding company or subsidiary(ies) including financing of those projects and their services including commissioning, operation, maintenance, etc.,as well as marketing, collecting revenues, etc.
Financial Profile of the Company.
During the year ended 31st March, 2017, the Company earned other income of Rs 195.95 lacs mainly because of interest earned on fixed deposits made with banks. The Company has Profit Before Tax (PBT) and Profit After Tax (PAT) of Rs (463.72) lacs and Rs (453.90) lacs respectively, for the financial year 2016-17.