About Tourism Finance Corporation of India Limited

Tourism Finance Corporation of India Limited (TFCI) is a specialized non-banking financial company focused on financing and investment activities, with a particular emphasis on India’s tourism and hospitality sector. Established over 36 years ago, the company has been instrumental in funding projects that contributed to approximately 58,700 star-category hotel rooms, representing about 29% of India’s total in this category. Registered with the Reserve Bank of India as a Middle Layer, Non-Deposit Accepting NBFC (ML-ND-NBFC), TFCI provides a broad suite of financial solutions including project loans, term loans, corporate loans, working capital loans, acquisition financing, refinancing/takeover financing, and special situation financing. Additionally, it undertakes fee-based activities such as tourism advisory, corporate advisory, loan syndication, and onward lending to NBFCs, HFCs, and MFIs.

TFCI operates exclusively within India, with reported assets and revenues deriving solely from domestic business. Its registered and corporate office is in New Delhi, supported by an additional office in Mumbai, covering the full pan-India financing footprint. The company has no subsidiaries or associate companies.

Key Milestones of Tourism Finance Corporation of India Limited

• Sustained leadership in funding India’s hospitality sector over more than three decades.
• Maintaining strong capital adequacy at 69.70% as of March 31, 2025.
• Successful diversification into social and urban infrastructure, real estate, manufacturing, and onward lending, while retaining sectoral expertise in tourism and hospitality.

Tourism Finance Corporation of India Limited Business Segment

TFCI operates in a single business segment comprising financing and investment activities. Its core focus remains tourism and hospitality financing, supplemented by growing activities in manufacturing, renewable energy (solar and wind), social and urban infrastructure, real estate emphasizing affordable and middle-income housing, and onward lending to financial institutions. Geographically, its operations and revenues are fully based in India.

The company reports a single operating segment titled “Financing and Investment Activities,” consistent with Ind AS 108. Its diversified portfolio includes project lending, corporate finance, and special situation financing, combined with fee-based advisory and syndication services. TFCI does not depend on any single customer for revenue and maintains concentrated operations within the Indian domestic market.

Tourism Finance Corporation of India Limited Key Management

• Dr. S. Ravi – Non-Executive Chairman
• Shri Anoop Bali – Managing Director & Chief Financial Officer
• Shri Sanjay Ahuja – Company Secretary and Senior Vice President
• Mrs. Charu Singh – President
• Shri Rajiv Singh – Senior Vice President

Latest Updates on Tourism Finance Corporation of India Limited

• Product and strategy expansions: Initiated short-term personal and retail loans via fintech platforms and loans against listed shares (LAS). Plans to expand retail lending, co-lending with banks and NBFCs in secured MSME and LAP products, and explore digital supply chain finance while prioritizing hospitality sector finance.
• Sector focus: Besides tourism and hospitality, the company focuses on manufacturing, renewable energy, social and urban infrastructure, affordable/middle-income real estate, and onward lending to NBFC, HFC, and ARC sectors as per Board-approved business plans.
• Asset quality: Gross NPA and Net NPA were at 3.22% and 1.61%, respectively, as on March 31, 2025. Investments in Security Receipts reduced from Rs 104 crore to Rs 40.49 crore; Expected Credit Loss provisions maintained for stressed accounts.
• Resource mobilisation: Raised Rs 225 crore term loans at 10.02% p.a. average cost from scheduled banks/institutions with up to five-year tenure. Issued 22.23 lakh equity shares at Rs 225 per share on a preferential basis post-approval.
• Credit ratings: Reaffirmed ratings include ACUITE A+ (Stable), BWR A+ (Stable), CARE A (Stable), and Infomerics A+ (Stable) for bank borrowings, and A1+ for proposed commercial paper.