Rail Vikas Nigam (RVNL) rose 1.01% to Rs 334.15 after the company announced that it has emerged as the lowest bidder (L1) for a significant road project from the National Highway Authority of India (NHAI) worth Rs 554.64 crore.
The project involves the construction of a six-lane, access-controlled connection to Visakhapatnam Port Road, extending from the Sabbavaram bypass of the Anakapalli-Anandapuram corridor to Km 12.660 (Sheelanagar junction) of NH 516C. The work will be carried out on a hybrid annuity mode in the state of Andhra Pradesh under NH (O) scheme.The project cost is Rs 554.64 crore, and it is expected to be completed within 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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