RVNL gains on bagging highway project

Rail Vikas Nigam (RVNL) rose 1.06% to Rs 33.30 after the company said it bagged a contract for construction of 4 lane highway in Andhra Pradesh.

The company has received contract for construction of 4 lane highway from Samarlakota to Achampeta Junction, from National Highways Authority of India (NHAI). The contract is a part of Kakinada port to NH - 16 connectivity in Andhra Pradesh under Bharatmala Pariyojana in EPC (engineering, procurement and construction) mode. The total awarded cost of the project is Rs 408 crore.

RVNL is a Category-I Mini-ratna CPSE under the Ministry of Railways. The company undertakes project execution from concept to commissioning and creates project specific SPVs for raising extra-budgetary resources (EBRs).

 

On a consolidated basis, net profit of RVNL rose 28.16% to Rs 297.67 crore on 20% rise in net sales to Rs 4640.75 crore in Q1 June 2022 over Q1 June 2021.

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