IRCTC shifts tracks to boost revenues
At present, IRCTC is providing facility management services at NIFTEM, Sonepat, Bureau of Indian Standards and a few IT companies in Kochi, besides others.
“The work on getting into the hospitality sector is progressing and we are in talks with various state governments for a tie-up. We plan to start budget hotels near railway stations in state capitals where the state government would provide land and we would build and operate the hotels as a concessionaire,” the official added.
In 2011-12, IRCTC had a total income of R554 crore, whereas in 2010-11 its total revenues were R765 crore. “In the past one and a half year, after the new catering policy was implemented, we have suffered a loss of around R250 crore in our catering business. However, revenues from our institutional catering, running cafes in government and private offices and sale of Rail Neer — bottled water for Indian railways — have seen a spike. From R229 crore in 2010-11, revenues increased to R250 crore in 2011-12,” the IRCTC official said.
Along with catering, IRCTC has also spruced up its online ticketing business by converting itself into a full-fledged online travel agency.
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