RVNL joint venture wins Rs 439 crore project

25 Apr 2024 , 08:37 AM

On Wednesday, April 24, Rail Vikas Nigam Limited (RVNL) announced that its joint venture, KRDCL-RVNL, has won the bid for a Rs 439 crore project .

The company notified the stock exchanges that the deal includes rebuilding of the Thiruvananthapuram Central Railway Station on an engineering, procurement, and construction (EPC) mode. The exchange filing further stated that the order is to be executed in 42 months.

In the joint venture, RVNL owns 49% and KRDCL controls 51%.

RVNL and Turkish Engineering Consulting and Contracting-TUMAS India Pvt Ltd inked a Memorandum of Understanding (MoU) earlier this month to cooperate on infrastructure and public transport projects in India. Additionally, the business placed the lowest bid for three orders totaling millions of dollars in a single day last month.

RVNL’s net profit for the October–December quarter decreased 6.2% YoY to ₹358.6 Crore. RVNL reported a net profit of ₹382.4 Crore for the same period last year. Operating revenue for RVNL decreased 6.4% to ₹4,689.3 Crore from ₹275.6 Crore in the same period of the previous fiscal year.

At 3:30 PM on Wednesday, April 24, RVNL shares closed 2.94% higher at ₹285.5 per share.

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