Announcement under Regulation 30- Earnings Call Transcript_Q1 FY2026-27

(भारत सरकार का उ(cid:552)म) (सीआईएन L65910DL1986GOI026363) दूरभाष:+91-011- 24361480 ई-मेल: info@irfc.co.in, वेबसाइट: https://irfc.co.in INDIAN RAILWAY FINANCE CORPORATION LTD. (A Government of India Enterprise) (CIN: L65910DL1986GOI026363) Regd. Office: UG Floor, East Tower, NBCC Place, Bhisham Pitamah Marg, Pragati Vihar, Lodhi Road, New Delhi -110003 Phone: +91-011- 24361480 E-mail: info@irfc.co.in, Website: https://irfc.co.in/ No: IRFC/SE/2026-27/34 06th August 2026 National Stock Exchange of India Limited BSE Limited Listing department, Exchange Plaza, Listing Dept / Dept of Corporate Services, Bandra- Kurla Complex, Bandra (E) PJ Towers, Dalal Street, Mumbai- 400 051 Mumbai -400 001 Scrip Symbol: IRFC Scrip Code: 543257 Sub: Transcript of the Earnings Conference Call Sir/ Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended from time to time and other applicable Regulations, please find attached the transcript of earnings conference call held with analysts/investors on Friday, 31st July 2026, to discuss Unaudited Financial Results for the quarter ended 30th June 2026. Please find below the link of transcript of earnings conference call held with analysts/investors on Friday, 31st July 2026. https://irfc.co.in/sites/default/files/inline-files/Investor%20Call%20Transcript_Q1%202026- 27.pdf This is submitted for your information and record. Thanking You, For Indian Railway Finance Corporation Limited (Vijay Babulal Shirode) Company Secretary & Compliance Officer Enclosure: As above “Indian Railway Finance Corporation (IRFC) Q1 FY'27 Earnings Conference Call” July 31, 2026 MANAGEMENT: MR. MANOJ KUMAR DUBEY – CHAIRMAN, MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – INDIAN RAILWAY FINANCE CORPORATION (IRFC) DR. RANJAY CHOUDHARY – DIRECTOR (FINANCE) – INDIAN RAILWAY FINANCE CORPORATION (IRFC) MS. DEEPA KOTNIS – EXECUTIVE DIRECTOR ( FINANCE) AND CHIEF FINANCIAL OFFICER – INDIAN RAILWAY FINANCE CORPORATION (IRFC) MODERATOR: MR. PUNEET CHATURVEDI – PHILLIPCAPITAL Page 1 of 9 Indian Railway Finance Corporation (IRFC) July 31, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Indian Railway Finance Corporation Limited Q1 FY '27 Earnings Conference Call. As a reminder, all participant lines will be in the listen- only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Puneet Chaturvedi from PhillipCapital. Thank you, and over to you, sir. Puneet Chaturvedi: Thank you. Good morning, and welcome to the Q1 FY '27 Earnings Call of Indian Railway Finance Corporation Limited. Joining us today from the management team are Shri Manoj Kumar Dubey, Chairman and Managing Director & CEO; Dr. Ranjay Choudhary, Director Finance; Ms. Deepa Kotnis, Executive Director Finance and CFO; along with other members of the senior management team. So I would now like to invite Shri Manoj Kumar Dubey: to share his thoughts on the quarter gone by and provide an outlook going forward. Over to you, sir. Manoj Kumar Dubey: Good morning, Puneet, and a warm welcome to all who joined this conference call for Q1 results of IRFC FY '27. So, I'll just take you back to last FY, when we launched our IRFC 2.0 vision. So a small recap of what foundation that we laid last year. Before that, IRFC was working on single client model and since FY '24, there was no business from the railways. So after 2 years lull, last FY, we started on diversification. And this company never had any experience of dealing with any other customer except Indian Railways. Challenges were daunting, but we knew our strength, a very pristine balance sheet, strength of very low overhead cost and strength of able to raise borrowings at a very attractive rate, better than anybody else in the country. We really use these strengths, and we charted in the territory where we had never been in the past. We gave ourselves a target also and the guidance that we shared with everybody around. It was a little challenging for the team, the relatively new team, which had not done this kind of business earlier, the kind of appraisal needed, the kind of other things required. But what happened in that the whole year, it was a kind of 100-meter race where we were doing everything that was possible to be done by a very professional NBFC company. And the results were really good, very overwhelming and very encouraging for the company. As you know, that last year against the guidance of INR60,000 crores, we could sign agreements worth more than INR75,000 crores. And against the target of INR30,000 crores disbursement, we could disburse more than INR35,000 crores. Now with the success that we had last year and the kind of growth in the business that was quite visible now, this year, we have declared ourselves as a year of consolidation and a year to plan for a midterm and the long term. Midterm is 2030 and the long term is 2037 for a 10-year plan. This company, as you know, as the name goes, Indian Railway Finance Corporation. So basically, this company for the 10 years also will be doing financing for mobility-centric assets mainly. Apart from that, all the allied sectors where there is a backward forward linkage, we did very well in last FY, those things will be continuing. Page 2 of 9 Indian Railway Finance Corporation (IRFC) July 31, 2026 So, the business plan will be that we remain the sole financing arms for the Indian Railways. And at the same time, diversification and asset acquisition in the other sectors, which are linked with the railways will continue. So what we did in Q1 is we have started working on 2 very important themes that this company has decided. One is “Fund in India”. Now the fund in India means that for metro railways and for the Indian Railways apart from GBS for the last 20- 25 years, all the funding used to come from bilaterals and multilaterals directly. They had their pros and cons also. Those were the era when Make in India was not very established in the country. So this fund in India is directly related to Make in India. 20 years later, when we talk today in 2026, almost everything required for the train running or mobility is being produced, manufactured, everything is done in India, either by indigenous company or by the MNC or by the joint ventures. So, with complete fund in India available in the country, Fund in India is going to be an accelerator, a kind of theme which will bring synergy to the development at a very fast rate. Fund in India means that IRFC wants to be a conduit, where the bilaterals or the any multilaterals, if they want to put money in India, they give this money to IRFC. IRFC leverages this money, makes a bigger kitty and it gives a bespoke solution to every customer in the whole of government approach. Now the word bespoke is also coined for the fact that we don't want to have only one model that you quote and I become L1 and I give you the money. No, every customer will be given a kind of tailor-made solution to their requirement of finance. There are infra projects which needs funding for 30 years. There are infra projects who need funding for 20 years. There are government agencies who want to take the risk for currency fluctuations. There are a few who want to hedge at a later time. All these things will be taken into account, and we are planning multiple kind of models which we can offer it to the various customers. Apart from what we did last year, this year, we have already ventured out in metro railway arena. When I say metro railway, today, it is a very vast term because the new concept of rapid rail, which already is proliferating across Delhi NCR and is going to be a game changer in the future with the kind of smart city [Showing first 8,000 characters — download PDF for full document]