Very true sir but i may be different prospective .though a portion of the earning will go to the shared service provider who facilate the user in booking the ticket but a a customer giving option to save money in terms of cash backs or less time consuming those service providers well disrve the compensation but at the same time the major chunk of the revenue goes to IRCTC and moreover it’s seats get filled and i am sure they have plan in place to cover the running expenses/ KM .
If Bajaj finance get benefit by opening their service to hospital it is win - win case . I recently went in to Café coffee day which is inside Satguru Partap Singh (SPS) Apollo Hospital in Ludhiana . who will think that some will sip ultra costly coffee in the atmosphere of the Hospital but it was full . my intent in sharing above example is who is to find out that who are the beneficiaries ? answer is it is hospital – service provider and customer so over all something for every stackholder in the ecosystem . I should not consider this a big risk but have following concerns .
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Who are the main customers - Middle income having plenty of time for the disposal and don’t mind saving money with home filled water bottle / cagger ./ home Cooked food . and from last couple of years railway passenger traffic has remained nearly flat .
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Disruption in transportation will come from the E-vehicles .
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Another is working capital - which one part is fixed and other is variable . But the major porion of working capital is used in maintance of the infrastructure / software / licence fees and i am sure in long terms the fares will be regulated by the government .
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Next concern is Going forward the trafficking if not in control of IRCTC if the trains are not able to reach i destination than this initial pull will go away . as railways is famous for IST ( Indian stretchable time ).
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They are not using and database but using excel sheets which is major concern raised by @dd1474 at IPO Review - Discussion until listing
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till now the market of running the tarins is monopoly but as the railways has intended to route privatise this will be real threat . Ministry of Railways and National Institution for Transforming India (NITI) Aayog, Government of India are spearheading participation of private entities in operation of passenger trains on 100 routes. In this respect, a draft of Request for Qualification (RFQ) document, Concession Agreement Guiding Principles, Project Information Memorandum (PIM) along with a Presentation on the salient features of the Project (Draft Documents) have been uploaded on the Ministry of Railways website http://www.indianrailways.gov.in/railwayboard
Regards