Rail Vikas Nigam (RVNL) advanced 2.86% to Rs 384.50 after the company announced that Siemens-RVNL consortium has received letter of acceptance (LoA) from Bangalore Metro Rail Corporation for a project valued at Rs 394.23 crore.
The scope of the project entails engineering, supply, erection, testing and commissioning of 33 KV distributions, 750V DC third rail traction electrification including traction substations, auxiliary substations and Supervisory Control and Data Acquisition (SCADA) system for Phase2A & Phase-2B.
The cost of the project is Rs 394.23 crore. According to the deal, Siemens will hold 70% of the share while RVNL share will be 30% in the project.
The project is expected to be completed within 130 weeks.
Meanwhile, the company informed that it has been emerged as the lowest bidder from Central Railway for over head equipment (OHE) modification work of existing electric traction system in Nagpur division.
The order includes OHE modification work for up-gradation of existing 1 x 25 kV electric traction system to 2 x 25 kV at feeding system in Amla-Nagpur section in Nagpur division of Central Railway to meet 3,000 MT loading target. The said order is worth Rs 138.45 crore and it is expected to be completed within 24 months.
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Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
The company reported 33.16% increase in consolidated net profit to Rs 478.40 crore in Q4 FY24 as compared with Rs 359.25 crore in Q4 FY23. Revenue from operations jumped 17.38% year on year (YoY) to Rs 6,714.01 crore in the fourth quarter of FY24.
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