RVNL rises after NHAI grants LoA for Andhra Pradesh-based project worth Rs 555 crore

Rail Vikas Nigam added 1.91% to Rs 364.90 after the company announced that it has received letter of acceptance (LoA) from National Highway Authority of India for a project worth Rs 554.64 crore.

The contract is for the construction of a six-lane access-controlled connectivity road to Visakhapatnam Port. This road will span from Sabbavaram bypass of the Anakapalli-Anandapuram corridor to Sheelanagar junction of NH 516C in Andhra Pradesh, under the hybrid annuity mode.

The project is to be completed within a period of 730 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 13.14% decline in consolidated net profit to Rs 311.44 crore in Q3 FY25 as against Rs 358.57 crore posted in Q3 FY24. Revenue from operations fell by 2.60% YoY to Rs 4,567.38 crore in the quarter ended 31 December 2024.

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