RVNL shares in focus, secures LoA worth Rs 295 crore from South Central Railway
The cost of the project is Rs 294.94 crore and is to be executed in 24 months.
RVNL shares in focus, secures LoA worth Rs 295 crore from South Central Railway
Multi-bagger stock Rail Vikas Nigam Ltd has received a letter of acceptance (LoA) from South Central Railway for a construction project worth Rs 294.94 crore. The project involved an engineering procurement construction (EPC) contract for the doubling of tracks between Navipet station (Exel) at 446.900 km and Indalvai Station (Incl) at 482.900 km, covering a distance of 33.70 km (excluding the Nizamabad yard from 458.825 km to 461.125 km, a stretch of 2.3 km).
The scope of work also included electrification and signaling for the Mudkhed-Medchal doubling project in Telangana.
The cost of the project is Rs 294.94 crore and is to be executed in 24 months.
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Financially, Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore in Q2 FY25 as against Rs 394.42 crore posted in Q2 FY24. Revenue from operations decreased 1.20% YoY to Rs 4,854.95 crore in the quarter ended 30 September 2024.
The Shares of Rail Vikas Nigam (RVNL) fell 0.79% to Rs 416.50 on the BSE.
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