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July 03, 2015 5:12 PM ET

Hotels, Restaurants and Leisure

Company Overview of Indian Railway Catering and Tourism Corporation Ltd.

Company Overview

Indian Railway Catering and Tourism Corporation Limited provides travel, tourism, and hospitality services in India. The company operates through four segments: Catering and Hospitality, Internet Ticketing, Travel & Tourism, and Rail Neer. The Catering & Hospitality segment provides railway catering and hospitality services, which include department, mobile, and static catering services; and non railway catering and hospitality services comprising institutional catering, office catering, event catering and management, facility management, guest house management, housekeeping, consultancy services, food courts, kiosks, etc. The Internet Ticketing segment operates e-commerce site to book the t...

Statesman House, B-148

11th Floor

Barakhamba Road

Connaught Place

New Delhi,  110001

India

Founded in 1999

Phone:

91 11 2331 1263

Fax:

91 11 2331 1259

Key Executives for Indian Railway Catering and Tourism Corporation Ltd.

Chairman and Managing Director
Director of Finance and Director
Chief Vigilance Officer
Company Secretary
Group General Manager of Human Resource Development
Compensation as of Fiscal Year 2015.

Indian Railway Catering and Tourism Corporation Ltd. Key Developments

Government Reportedly Plans To Sell Stakes In Firms Managed By Indian Railways

Indian government is planning to sell stake in Steel Authority of India Limited (BSE:500113), NHPC Ltd. (BSE:533098), Oil and Natural Gas Corp. Ltd. (BSE:500312), Power Finance Corporation Limited (BSE:532810), and Rural Electrification Corporation Limited (BSE:532955). The government also plans to divest its stake in certain infrastructure companies of Indian Railways. A source told PTI, “We are in talks with the Railway Board for sale of government equity in certain public sector units (‘PSUs) managed by Indian Railways.” There are about half a dozen companies which are managed by Indian Railways. These include RITES Ltd., Ircon International Limited, Indian Railway Finance Corporation Limited, Indian Railway Catering and Tourism Corporation Ltd., and RailTel Corporation of India Ltd. Since these firms are not listed it is likely that the initial public offer will be accompanied by government offloading its stake. Indian Railways is facing a cash crunch and is looking at various ways to mobilize resources for undertaking its expansion program. According to the news report, the government has already pitched for reforms in Railways by proposing Foreign Direct Investment and Public Private Partnership to meet the resource crunch. The source stated, “The disinvestment will be a part of the government exercise to engage private players in ancillary services as part of overall agenda.” The Finance Ministry plans to raise around INR 434 billion through disinvestment in PSUs in 2014.

IRCTC Reportedly Seeks Partners

Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) might be looking for newer partners in the months ahead for its online retail platform. The IRCTC people are not really happy with with Yebhi.com. partnership and has panned out and are considering to float a new tender to find new partners. Yebhi was selected to run IRCTC’s online retail operation for a span of one year. IRCTC is expected to officially communicate about the tender by April 2014. Snapdeal, Infibeam and Flipkart are among the companies which could be considered. However, even the IRCTC does not categorically state that their partnership with Yebhi might come to an end.

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