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RVNL bags Thiruvananthapuram Central station redevelopment contract at ₹439 crore over 42 months. Recent wins, like the Aurangabad-Ankai doubling project and automatic block signalling, boost confidence amid operating revenue decline in Q3 FY2024, as reflected in its strong stock performance.
Rail Vikas Nigam (RVNL) announced its emergence as the lowest bidder for the redevelopment of Thiruvananthapuram Central railway station, partnering with KRDCL. The project, estimated at ₹439 crore, is set to enhance rail infrastructure in the Southern Railway zone. RVNL's share in the joint venture stands at 49%, as indicated in the exchange filing.
In addition to the Thiruvananthapuram project, RVNL had recently secured another bid for the Aurangabad-Ankai doubling project, with an estimated cost of ₹440 crore. Despite a 6.44% drop in operating revenue and a 6.24% decrease in net profit reported during the third quarter of FY2024, RVNL remains ambitious in its growth plans.
The company targets a topline between ₹20,000 crore and ₹22,000 crore, with an order book aiming at ₹75,000 crore, fueled by new orders worth ₹25,000 crore annually from domestic and international markets.
Explore: Rail Vikas Nigam Limited Share Price
RVNL's stock performance reflects investor confidence, with shares gaining over 55% since the beginning of the year and surging by over 222% in the last year. Moreover, RVNL clinched another project worth ₹239 crore from Southern Railway for the provision of an Automatic Block Signalling (ABS) system. This system enhances safety by controlling train movements automatically, minimising the risk of collisions.
RVNL's relentless pursuit of infrastructure development in the railway sector underscores its commitment to modernising and expanding rail networks. With a strong pipeline of projects and ambitious growth targets, RVNL remains a key player in India's rail infrastructure landscape.
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Sources:
https://www.cnbctv18.com/business/companies/
rvnl-emerges-lowest-bidder-for-rs-239-crore-southern-railway-abs-project-19401649.htm
https://upstox.com/news/market-news/stocks/rail-vikas-nigam-closes-2percent-higher-after-firm-announces-order-win/
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