RVNL wins project from Southern Railways worth ₹156.47cr; shares down marginally

On June 10, Rail Vikas Nigam (RVNL) shares were trading slightly lower in early trade following the company's emergence as the lowest bidder (L1) for a contract from Southern Railway. At 09:34 am IST, RVNL was quoted at ₹374.00 on the NSE, down ₹0.55 or 0.15%.

"It is hereby informed that M/s KRDCL-RVNL Joint Venture emerges as the lowest bidder (L1) from Southern Railway for provision of automatic signalling on Ernakulam JN(ERS) - Vallattol Nagar (VTK) section on B-route of Thiruvananthapuram division in Southern Railway," company said in its press release.

The total contract value is ₹1,564,703,304.52, with RVNL holding a 49% share and KRDCL holding 51%. The contract is scheduled to be completed within 750 days.

On June 7, the company secured an order valued at ₹495 crore from the National Thermal Power Corporation (NTPC). Additionally, on June 6, the company won orders totaling ₹515 crore from Dakshin Haryana Bijli Vitran Nigam Limited and Eastern Railway for the construction of the Sitarampur bypass line under the Asansol division.

On June 3, the company received a Letter of Acceptance from South Central Railway for an Engineering, Procurement, and Construction (EPC) tender. This project involves the proposed doubling of the track between Ankai station (excluding) and Karanjgaon stations (excluding), including electrification and signaling works, as part of the Aurangabad-Ankai Doubling project in the Nanded Division of South Central Railway.

This latest contract adds to a series of recent order wins for the company. On Thursday, it announced securing an order worth approximately ₹495 crore from NTPC for the execution of remaining civil and hydro-mechanical works of the Barrage Complex, which is part of the Rammam Hydro Electric Project Stage-III. This contract is scheduled to be completed within 66 months.

Last week, the company announced that it had secured another significant order from Dakshin Haryana Bijli Vitran Nigam Limited, valued at approximately ₹124 crore.

Additionally, in a filing dated June 7, the firm informed the exchanges about the appointment of N. C. Karmali, Executive Director (Coord.) / Gati Shakti, Railway Board, as a part-time (official) Government Nominee Director on the board of Rail Vikas Nigam.

Rail Vikas Nigam Limited (RVNL) is an Indian company specializing in the development of rail infrastructure. It is involved in implementing various rail infrastructure projects, including gauge conversion, new lines, railway electrification, bridges, workshops, and production units. The company manages project development, financing, and execution related to rail infrastructure projects.

RVNL undertakes a wide range of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, cable-stayed bridges, and institutional buildings. Operating on a turnkey basis, RVNL handles the entire project development cycle from conceptualization to commissioning, encompassing design, estimate preparation, contract solicitation, project management, and contract management. Its clientele includes various central and state government ministries, departments, and public sector undertakings.