A Special Purpose vehicle, Indian Railway Stations Development Corporation Limited (IRSDC), a Joint Venture company of Ircon International Limited (IRCON) (A Govt. of India Undertaking, under Ministry of Railways) and Rail Land Development Authority (RLDA), a statutory authority under the 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. The Equity stake of IRCON and RLDA in IRSDC is in the ratio of 50:50.
Presently, the authorized share capital of IRSDC is Rs.100 crores and the paid-up share capital is Rs. 40 crores.
The main objects of the Company as enshrined in its Memorandum and Articles of Association are:
- 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.
- 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.
- 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.
- 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.