@Dinesh Singh I think you are confused between Navratna and Maharatna.
To become a Maharatna, under-noted is the eligibility-
Three years with an average annual net profit of over ₹2,500 crores, OR
The average annual Net worth of ₹10,000 crores for 3 years, OR
Average annual Turnover of ₹20,000 crore for 3 years (against Rs 25,000 crore prescribed earlier)
The proposal to upgrade the status is fact-based and has well-defined eligibility criteria. If IREDA is not qualified to become Navratna, no one is going to propose them just randomly.