RVNL shares in focus after winning Rs 554 crore Bengaluru Suburban Rail Project contract
Rail Vikas Nigam Ltd (RVNL) shares will be in focus on Wednesday, February 19, after the company secured a Rs 554.47 crore contract from Rail Infrastructure Development Company (Karnataka) Ltd (K-RIDE) for the Bengaluru Suburban Rail Project (BSRP).
RVNL received a Letter of Acceptance from K-RIDE for Package C4A, involving the construction of nine stations under Corridor-4A of the BSRP. The Rs 554.47-crore contract involves building one elevated and eight at-grade stations at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, and Kaggadasapura.
The scope of work includes civil and structural construction, entry/exit structures, steel foot-over bridges, roof structures, pre-engineered building (PEB) works, architectural finishes, and E&M works. The project is set to be completed in 24 months through a joint venture, with RVNL holding 51% and Rithwik Projects Private Ltd (RPPL) holding 49%.
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RVNL Q3 earnings
RVNL reported a 13.1% year-on-year (YoY) dip in net profit at Rs 311.6 crore for the third quarter that ended December 31, 2024. In the same period in FY24, the company saw a net profit of Rs 358.6 crore.
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