RVNL JV emerges as lowest bidder for EPC project worth ₹439 crore from Southern Railway

NEW DELHI : Rail Vikas Nigam Limited on Wednesday, April 24, said its KRDCL-RVNL Joint Venture emerged as the lowest bidder for a project worth ₹439 crore from Southern Railway.

The contract will include redevelopment of the Thiruvananthapuram Central Railway Station on an engineering, procurement and construction (EPC) mode, the company informed the stock exchanges. The order is to be executed in 42 months, the exchange filing added.

RVNL holds 49% in the JV, while KRDCL holds 51%

Earlier this month, RVNL signed an MoU with Turkish Engineering Consulting and Contracting-TUMAS India Pvt Ltd to partner and collaborate in public transportation projects and infrastructure projects in India. And last month, the company emerged as the lowest bidder for three orders worth millions in a single day.

RVNL’s net profit declined 6.2% year-on-year (YoY) to ₹358.6 crore in the October-December quarter. In the corresponding quarter in the previous year, RVNL posted a net profit of ₹382.4 crore. RVNL’s revenue from operations dipped 6.4% to ₹4,689.3 crore as against ₹275.6 crore in the corresponding period of the preceding fiscal.

RVNL shares were trading 2.65% higher at ₹284.7 apiece at 1.45 pm on Wednesday, April 24. The stock has gained 224.1% in the past year.