Rail Vikas Nigam (RVNL) rose 2.20% to Rs 283.40 after the company's consortium was named the lowest bidder for the redevelopment project of Thiruvananthapuram Central Railway Station.
The joint venture (JV) comprised of Kerala Rail Development Corporation (KRDCL) (holding a 51% stake) and RVNL (with a 49% stake) was selected by Southern Railway for the project which will be undertaken using the engineering, procurement, and construction (EPC) mode. The estimated cost of the project is Rs 438.95 crore. The redevelopment is expected to be completed within a timeframe of 42 months.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 civil construction company reported 6.24% decline in consolidated net profit to Rs 358.57 crore on 6.44% fall in revenue from operations to Rs 4,689.33 crore in Q3 FY24 over Q3 FY23.
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