RVNL secures ₹270 Crore metro station project in Maharashtra

17 Dec 2024 , 05:54 AM

State-owned Rail Vikas Nigam Ltd (RVNL) announced on Monday (December 16) that it has obtained a letter of acceptance from Maharashtra Metro Rail Corporation Ltd for the construction of ten elevated metro stations. The said order is part of the second phase of the Nagpur Metro Rail Project (NMRP).

The deal is worth ₹270 Crore, including GST, and is expected to be finished within 30 months. The project involves the building of seven elevated metro stations in Reach 3A: Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna. The scope also includes three elevated metro stations in Reach 4A, namely Pardi, Kapsi Khurd, and Transport Nagar.

RVNL’s net profit decreased 27% year-on-year (YoY) to ₹286.9 Crore from ₹394.3 Crore in the same period last year, owing to lower operating margins and earnings. The revenue from operations of the rail PSU decreased by 1.2% year on year to ₹4,855 Crore, from ₹4,914.3 Crore in Q2 FY24.

RVNL’s profit improved by 28.1% QoQ, while revenue increased by 19.2% in Q2 FY25, indicating modest sequential performance improvement. Tax expenses decreased by 0.5% year-on-year to ₹4,731.5 Crore, but increased by 17.2% quarter on quarter.

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