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RVNL Gets LoA Worth Rs 239 Cr from Southern Railway

May 14, 2024

By: BlinkX Research Team

Civil construction company Rail Vikas Nigam Limited (RNVL) received a letter of acceptance (LoA) worth 239 crore rupees from Southern Railway for a project in Tamil Nadu, the company said in an exchange filing on Monday. The project is likely to be executed within 12 months.

Key Takeaways from the Order:

• RVNL gets an order worth 239 crore rupees.
• The contract includes provision for an automatic block signalling system in Jolarpettai junction.
• The project is expected to be executed in 12 months.

The contract includes the provision for an automatic block signalling system in Jolarpettai junction, Tamil Nadu to erode the junction of Salem division in Southern railway.

Further, the company reported a 6.24% decline in its consolidated net profit to 358.57 crore rupees on year. Also, revenue from operations fell 6.44% to 4,689.33 crore rupees in Q3 FY24 over Q3 FY23.

About Rail Vikas Nigam Limited:

RNVL established in 2003 is an Indian central public sector enterprise (PSU) which works for the construction arm of the Ministry of Railways. The PSU is in the business of executing all types of railway projects including new files, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges and more. 

Read More About Rail Vikas Nigam Limited Share Price Here!