Latest news with #BharatGaurav
Time of India
5 hours ago
- Time of India
CM to launch tourist train commemorating Shivaji Maharaj's Coronation today
Mumbai: Chief minister Devendra Fadnavis will inaugurate the Chhatrapati Shivaji Maharaj Bharat Gaurav special tourist train from CSMT early Monday morning, coinciding with the 351st coronation anniversary of the great Maratha ruler. Central Railway's chief spokesperson, Swapnil Nila, said that the train tour achieved full booking capacity. The journey encompasses historical locations, including Raigad Fort, Shivneri Fort, Pratapgad Fort, Panhala Fort, Lal Mahal, Kasba Ganpati, and Shivsrushti, all significant sites associated with Chhatrapati Shivaji Maharaj's legacy. The itinerary also includes visits to the Bhimashankar Jyotirlinga and Kolhapur's Mahalaxmi Temple. The journey promises convenient access to Maharashtra's historical and cultural heritage sites. The Indian Railway Catering and Tourism Corporation Limited (IRCTC) will operate this service, accommodating 710 passengers, with 480 in Economy (Sleeper), 190 in Comfort (3AC), and 40 in Superior (2AC) class. The train will reach Raigad on Monday, the first stop featuring the historic hill fort where Chhatrapati Shivaji Maharaj's coronation occurred and subsequently served as his capital. Following the Raigad visit, the tour continues to Pune. This six-day, five-night Chhatrapati Shivaji Maharaj Circuit tour represents a collaborative effort between the state govt and Indian Railways.
Mint
3 days ago
- Business
- Mint
IRCTC's Ebitda growth rate mirrors pace of a slow-moving train
Indian Railway Catering and Tourism Corp. Ltd (IRCTC)'s results for the three months ended March (Q4FY25) proved unimpressive versus expectations of a solid quarter due to the Mahakumbh event-related push. Ebitda growth was 6% year-on-year to ₹385 crore, with margin compressing by almost 100 basis points to 30.4%. A basis point is one-hundredth of a percentage point. Recall that IRCTC had offered food service in Aastha Express to Ayodhya in Q4FY24 during the consecration ceremony of the Ram temple. Thus, there was hope that it would be done for Mahakumbh special trains, too. In the Q4FY25 earnings call, the management clarified that these trains operated without catering facilities because the government's aim was to accommodate more passengers to Mahakumbh and also clear the subsequent rush from there. The outcome: IRCTC's catering revenue was unchanged year-on-year at ₹529 crore. The segment's profitability improvement isn't impressive either, as the base quarter had an abnormally low margin. Sequentially, the margin was flat at 12%. Also Read: KEC is making amends to repair margin, allay debt concerns IRCTC's mainstay business remains internet ticketing, contributing about 75% of its total FY25 Ebit. The segment has two revenue streams of convenience fee (simply put, the online ticket booking charges) and non-convenience fee from advertising and ancillary services for buying food, travel insurance, etc. Convenience fee grew 9% year-on-year as online ticket booking volume increased by 10%. While volume growth is not a problem, the concern here is about the 7% quarter-on-quarter fall in average fee per ticket to ₹18.6. The fee is different for AC and non-AC ticket booking, and also for booking payments made using Unified Payments Interface (UPI) or other modes that include netbanking and cards. The share of UPI-based payments has been steadily climbing up, from 45% in Q1FY25 to 47.7% in Q4FY25, which puts pressure on the average fee per ticket as the convenience fee is lower on payments made using UPI. Bright spot The tourism segment was the only bright spot in the results, which essentially is a packaged tour business offering options for religious and luxurious tours. Tourism Ebit soared by 161% on-year to ₹50 crore with margin almost doubling to 18.1% in Q4FY25. Bharat Gaurav train and Maharaja Express have contributed to the growth. Also Read: PMI: India's services exports bump may lose steam amid global economic gloom For FY25, the two trains clocked revenue of ₹277 crore and ₹92 crore, respectively. While Bharat Gaurav's revenue is higher, its margin is lower at 8% versus 18% of Maharaja Express, as the former operates in the affordable segment and the latter in the luxurious travel category. The management is optimistic that the tourism segment will maintain its upward trajectory, but the segment's past performance has been volatile. Meanwhile, IRCTC is likely to get initial approval from the Reserve Bank of India (RBI) for a payment aggregation license within the next couple of months. However, even after the business starts, it would be tough to make inroads given the wafer-thin margin. The space is already crowded with well-entrenched players such as PhonePe and Razorpay. High valuation As such, the new business initiative is unlikely to change the trajectory of the stock, which is down 15% over the past one year even as the Ebitda CAGR over the last two years to FY25 has been 10%. The decline in the stock is thus indicative of the correction in its rich valuation. Ebitda is short for earnings before interest, taxes, depreciation, and amortisation. Also Read: Ola Electric's new breakeven targets appear more like wishful thinking Bloomberg consensus estimates show Ebitda growth in FY26 could go up to 18%, which appears a tad optimistic. The decline in stock price pushes the enterprise value (EV) (numerator in EV/Ebitda) lower, while optimistic Ebitda estimates push the denominator higher. Despite that, the valuation still remains expensive at EV/Ebitda of 33x based on Bloomberg consensus estimates for FY26.
Time of India
19-05-2025
- Time of India
IRCTC to flag off spl train & heli ride to Kedarnath from Nagpur
Nagpur: Indian Railway Catering and Tourism Corporation (IRCTC) will flag off its special 'Bharat Gaurav' tourist train titled ' Devbhoomi with Kedarnath Darshan Swami Yatra ' from Nagpur on June 7. The initiative is part of IRCTC's Bharat Gaurav Mansarovar Express Train programme which includes a helicopter ticket for Kedarnath Darshan and offers an all-inclusive pilgrimage experience. The train will cover a route including Nagpur, Itarsi, Bhopal (via Sant Hirdaram Nagar), Bina, Jhansi, Gwalior, Agra, Mathura, to Haridwar. From there, passengers will proceed via bus and helicopter to Kedarnath Dham, also visiting Badrinath Dham, Rishikesh, Devprayag, Rudraprayag, Guptkashi, Joshimath, and other religious sites. Three travel categories are available — Rs 49,990 per person (3AC – comfort class), Rs 59,990 per person (2AC – deluxe class), Rs 69,990 per person (1AC – superior class) The package includes AC train travel, hotel/dharamshala accommodations, vegetarian meals (on-board and off-board), road transport, VIP darshan, travel insurance, and the service of IRCTC tour managers. The tour also covers audio guide systems, security arrangements, and other essential facilities. In addition to this train, IRCTC will operate another Bharat Gaurav Tourist Train titled "Dakshin Darshan Yatra" from Indore on July 5, 2025, covering southern pilgrimage sites. For booking and more information, travelers from Nagpur can contact IRCTC at 9321901862 or 8287931723, or visit
