RVNL rallies on emerging as L-1 bidder for Rs 148-cr railway project

Rail Vikas Nigam (RVNL) gained 2.91% to Rs 260.30 after the civil construction firm said that it has emerged as the lowest bidder (L1) for a project awarded by South Eastern Railway to upgrade electric traction system for Rs 148.26 crore.

The scope of work entails design, supply, erection, testing and commissioning for upgradation of electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Kharagpur Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000 MT loading target.

The contract received from SER HQ-Electrical is valued at Rs 148.26 crore and the order has to be executed within 18 months.

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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