RVNL (Rail Vikas Nigam Ltd), a government-owned entity, announced on Friday, March 15, that it has been awarded a letter of acceptance (LoA) for a significant project valued at ₹339.2 crore by Maharashtra Metro Rail Corporation Ltd.
The scope of the contract includes the “design and construction of elevated viaduct” over a span of 4.519 km within the Pune Metro Rail network, as detailed in a filing with the stock exchange. RVNL specified that the project is scheduled to be completed within 130 weeks.
In the latest financial quarter ending December 31, 2023, the railway PSU reported a 6.24% decrease in its consolidated net profit, which amounted to ₹358.57 crore compared to ₹382.42 crore in the corresponding period the previous year. Similarly, its net sales experienced a 6.4% decline, totaling ₹4,689.3 crore in the third quarter of FY24, down from ₹5,012.1 crore recorded in the same period a year earlier.
Rail Vikas Nigam Ltd (RVNL) is a government-owned company that operates in the railway infrastructure sector in India. Established in 2003, RVNL is responsible for implementing railway projects involving construction, maintenance, and upgradation of rail tracks, bridges, stations, and other related infrastructure.
RVNL plays a crucial role in the development of the Indian railway network, focusing on enhancing capacity, speed, and safety of train operations. The company’s projects often involve modernization and expansion of existing railway lines, as well as the construction of new lines to connect different parts of the country.
RVNL has a strong track record of executing projects efficiently and has been instrumental in the development of several key railway corridors across India. The company is known for its commitment to quality and adherence to timelines, ensuring timely completion of projects. RVNL’s work is essential for improving connectivity and facilitating economic growth through efficient rail transportation in India.
