RVNL Emerges As Lowest Bidder For Rs 270 Crore Project From Maharashtra Metro Authority
RVNL will also build three elevated metro stations to reach Pardi, Kapsi Khurd, and Transport Nagar, as part of Nagpur Metro Rail Project Phase-2.
(Representative image. Source: RVNL website)
Rail Vikas Nigam Ltd. emerged as the lowest bidder for the Rs 270 crore metro construction project from the Maharashtra Metro Rail Corp. Ltd.
The contract involves the construction of seven elevated metro stations to reach Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna, according to an exchange filing on Wednesday.
The company will also build three elevated metro stations to reach Pardi, Kapsi Khurd, and Transport Nagar as part of Nagpur Metro Rail Project Phase-2, the filings said. Also, the project is supposed to be executed within a timeframe of 30 months.
Previous Deals of RVNL
Earlier on Sept. 30, the public sector enterprise, or PSU, emerged as the lowest bidder for a work order from East Central Railway.
The Rs 180 crore project included "design, supply, erection, testing and commissioning of a 2x25KV feeder line along the track" and "modification works to meet a 3,000 MT loading target" for the up and down line of the Garwa Road-Mahadiya section of the Dhanbad division.
On Sept. 11, the Navratna CPSU under the Ministry of Railways granted a Rs 71 crore project to BCPL Railway Infrastructure Ltd.
The contract involved the upgrade of the electric traction system in the Kharagpur-Bhadrak section of the Kharagpur division of Southeastern Railway.
Also, the company in Latur opened the Marathwada Rail Coach Factory on Sept. 5. The factory would manufacture 1,920 Vande Bharat sleeper coaches and also maintain them for 35 years.
RVNL Q1 Performance
RVNL reported a 26.9% fall in its revenue year-on-year to Rs 4,073.8 crore in the first quarter of fiscal 2025, missing Bloomberg estimates of Rs 5,850 crore.
It also reported a net profit of Rs 223.9 crore, indicating a 34.7% decline for the three months ended June of the current fiscal. Analysts polled by Bloomberg estimated a profit of Rs 394 crore.
The company's Ebitda decreased to Rs 181.5 crore, denoting a 48% fall and its Ebitda margin narrowed to 4.45% for the April-June quarter of the financial year 2025.
Shares of RVNL closed 1.14% higher at Rs 479.60 apiece on the NSE, compared to a 0.34% fall in the benchmark Nifty 50. The stock has risen 189% in the last 12 months and 164.17% on a year-to-date basis.
