RVNL spurts as JV bags LoA worth Rs 554 cr

Rail Vikas Nigam (RVNL) jumped 5.97% to Rs 353 after it and its joint venture, Rithwik Projects (RPPL), received a Letter of Acceptance (LoA) from Rail Infrastructure Development Company (Karnataka) (K-RIDE) for a project worth Rs 554.46 crore.

The project, part of the Bengaluru Suburban Rail Project (BSRP), involves the development of Package C4A, which includes the construction of nine stations along Corridor-4A. These stations comprise one elevated station and eight at-grade stations at locations such as Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, and Kaggadasapura.

The scope of work also includes civil and structural works, entry/exit structures, steel foot-over-bridges (FOB), roof structures, pre-engineered buildings (PEB), architectural finishes, electrical and mechanical works, as well as detailed design and engineering (DOC).

The total value of the contract is Rs 554.46 crore, with the project slated for completion within 24 months. RVNL holds a 51% stake in the project, while RPPL holds 49%.

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 decreased 2.60% YoY to Rs 4,567.38 crore in the quarter ended 31 December 2024.

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