Shares of Rail Vikas Nigam Limited (RVNL) surged up to 3%, reaching an intraday high of Rs 450.85 a share after the company announced that they have emerged as the lowest bidder (L1) for a Rs 294.9 crore project from South Central Railway.

RVNL, via an exchange filing, said, “It is hereby informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from South Central Railway for “Engineering Procurement Construction (EPC) Contract of Doubling of Track between Navipet station (Excl) From Km 446.900 to Indalvai Station (Incl) Km 482.900 (33.70 km), {Excluding Nizamabad Yard from Km 458.825 to 461.125 (i.e.) 2.3 Km} including Electrification & Signalling works in of South-Central Railway in connection with Mudkhed-Medchal Doubling Project in the State of Telangana.”

In accordance with the order, RVNL has been given an Engineering, Procurement, and Construction (EPC) contract to double the track 33.70 kilometres between Navipet Station (excluding) at Km 446.900 and Indalvai Station (including) at Km 482.900. As part of the South-Central Railway’s Mudkhed–Medchal Doubling Project in the state of Telangana, this project comprises electrification and signalling works and does not include the Nizamabad Yard segment, which is located between kilometre 458.825 and 461.125 (a 2.3 km stretch).

According to a release from RVNL, the project will be finished in 24 months and will cost a total of Rs 294,94,80,683.34.

In the September quarter of FY25 (Q2FY25), RVNL’s earnings fell 27.2% year-over-year (Y-o-Y) to Rs 287 crore, down from Rs 394.3 crore in the September quarter of FY24 (Q2FY24). However, from Rs 4,914.3 crore in Q2FY24 to Rs 4,855 crore in Q2FY25, the company’s revenue decreased by just over 1% yearly.

RVNL declared last week that it had obtained a letter of acceptance (LoA) from East Central Railway for an order valued at more than Rs 180 crore.

Based in New Delhi, RVNL is a business that specialises in building rail infrastructure projects all throughout the nation. The firm was founded in 2003 and is actively involved in the creation and execution of a number of railway projects, such as the construction of cable-stayed bridges, new lines, doubling, gauge conversion, railway electrification, workshops, metro projects, bridges, and institution buildings. 

In order to support its projects, it also provides financial resource mobilisation services. Indian Railways, state and federal government ministries and agencies, and public sector projects are among the clientele served by Rail Vikas Nigam Limited.

At 1:04 pm, the shares of Rail Vikas Nigam were trading 0.94% higher at Rs 440.65 on NSE.

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