Rail Vikas Nigam (RVNL) rose 1.55% to Rs 249.60 after the company said that it has received letter of acceptance (LOA) from Maharashtra Metro Rail Corporation for a project worth Rs 339.23 crore.
The project involves design and construction of elevated viaduct of length 4.519 kilometeres between PCMC and NIGDI (Bhakti Shakti) on the North South Corridor of Pune Metro Rail Project Reach 1 Extension. The project has to be executed within a period of 130 weeks.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
The civil construction company reported 6.24% decline in consolidated net profit to Rs 358.57 crore on 6.44% fall in revenue from operations to Rs 4,689.33 crore in Q3 FY24 over Q3 FY23.
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