Rail Vikas Nigam (RVNL) advanced 3.28% to Rs 258 after the company announced that it has entered into a Memorandum of Understanding (MoU) with the Airports Authority of India (AAI) for the construction of a subway/underpass in Kolkata.
The project involves construction of subway/underpass to connect operational area to the Airport Authority of India residential colony in Kolkata. The estimated cost of the project is Rs 229.43 crore.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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