RVNL Secures Metro Construction Project from Maharashtra Metro Rail Corporation

RVNL has been awarded a significant metro construction contract from Maharashtra Metro Rail Corporation, covering seven stations in Reach 3A and three stations in Reach 4A under NMRP Phase-2, with a project cost of ₹270 crore.

Project Details

The Letter of Acceptance received is for the construction of metro stations in the NMRP Phase-2 project. The scope includes the construction of seven elevated metro stations in Reach 3A and three stations in Reach 4A.

The project, which is expected to be completed within 30 months, has a total cost of ₹270.01 crore, including GST, the company said in a press release on the stock exchanges.

The contract is awarded by a domestic entity and does not involve any related-party transactions. The project reflects RVNL’s continued involvement in critical infrastructure projects in India.

For more details, RVNL has also provided a declaration as per SEBI regulations. The project showcases RVNL’s commitment to contributing to India’s metro infrastructure development.

RVNL December Project Wins

Rail Vikas Nigam Limited (RVNL) has been awarded a significant contract by Southern Railway for the design, supply, erection, testing, and commissioning of traction substations with associated switching posts.

In addition to the Southern Railway project, RVNL has also received a key order from Eastern Railway for the upgrade of the electric traction system. The contract involves the design, supply, erection, testing, and commissioning of traction substations and associated switching posts for the electrification work.

Share Price Performance

On December 17, 2024, Rail Vikas Nigam’s share price traded 0.61% higher, at ₹472.75 at 1:00 PM on the NSE. The stock opened at ₹472.50, lower than the previous close of ₹469.90.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.