RVNL spurts on bagging multiple orders of Rs 390 cr

Rail Vikas Nigam (RVNL) surged 6.56% to Rs 578.80 after the company announced that it has secured multiple orders worth Rs 390.21 crore.

The civil construction construction company said that it has received a letter of acceptance from Maharashtra Metro Rail Corporation (Nagpur Metro) for construction of 6 elevated metro stations (Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club and Kanhan River Metro Station). The cost of the project is Rs 187.34 crore and is expected to be completed in 30 months.

Subsequently, the company has emerged as the lowest bidder (L1) from South Eastern Railway for design, supply, erection, testing & commissioning of 132 KV traction substation, sectioning post (SPs), and sub sectioning post (SSPs) in 2x25KV System on Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000MT. The project, costing Rs 202.87 crore, is slated for completion in 18 months.

Lastly, RVNL has signed a memorandum of understanding with TATWEER Middle East and Africa LLC (TATWEER) for using the firms expertise in railway sector, developing joint capabilities in design and execution of various rail based work in Middle East and North Africa (MENA) region and European countries and also for supply, design, implementation and commissioning of smart city, digital transformation and professional engineering services.

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 on 17.38% jump in revenue from operations to Rs 6,714.01 crore in Q4 FY24 over Q4 FY23.

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