Rail Vikas Nigam (RVNL) announced that its joint venture (JV), KRDCL-RVNL has been declared as lowest bidder from Southern Railway for a project worth Rs 156.47 crore.
The order includes provision of automatic signaling on Ernakulam JN (ERS), Vallattol Nagar (VTK) section on B-route of Thiruvananthapuram division in Southern Railway.
The joint venture (JV) comprised of Kerala Rail Development Corporation (KRDCL), holding a 51% stake and RVNL with a 49% stake.
The said order is worth Rs 156.47 crore and it is to be completed in 750 days.
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 company reported 33.16% increase in consolidated net profit to Rs 478.40 crore in Q4 FY24 as compared with Rs 359.25 crore in Q4 FY23. Revenue from operations jumped 17.38% year on year (YoY) to Rs 6,714.01 crore in the fourth quarter of FY24.
The scrip added 1.52% to end at Rs 374.40 on the Friday, 7 June 2024.
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