RVNL spurts as JV bags Rs 838-cr LoA from Eastern Railway

Rail Vikas Nigam (RVNL) jumped 6.85% to Rs 449.20 after its joint venture (JV), RVNL-SCPL received letter of acceptance (LoA) worth Rs 837.67 crore from Eastern Railway.

The order includes earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, RUB, ROB, retaining wall, level crossing, side drain, catch water drain, P.way work, and other ancillary works between Kalipahari and Pradhankhuta in connection with the construction of a multi-track tracking railway BG line.

In the RVNL-SCPL JV, RVNL holds a 74% stake and a remaining 26% stake is held by SCPL.

The said project is worth Rs 837.67 crore and it will be completed in 36 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.

Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore on a 1.20% slide in revenue from operations to Rs 4,854.95 crore in Q2 FY25 over Q2 FY24.

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