RVNL Gets Letter Of Acceptance For Rs 270-Crore Order From Maharashtra Metro Rail Authority
The order involves building three elevated metro stations as part of the second phase of Nagpur Metro Rail Project.
Rail Vikas Nigam Ltd. said on Monday that it has received letter of acceptance from the Maharashtra Metro Rail Corp. for a Rs 270-crore order.
This comes nearly two months after the construction arm of the Ministry of Railways had informed the stock exchanges that it has secured the project from the Maharashtra metro authority.
The order involves the construction of elevated metro stations at various places across Nagpur that include Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna, according to the company’s exchange filing.
It also involves building three elevated metro stations at Pardi, Kapsi Khurd, and Transport Nagar as part of Nagpur Metro Rail Project Phase-2.
The public sector enterprise has been given 30 months to complete the project.
Earlier this month, Rail Vikas Nigam had received a letter of acceptance from Southern Railway for a Rs 110.86-crore project in the Chennai Division. The contract involves the provision of Multi Section Digital Axle Counter, with existing Digital Computerised Train Control at stations to serve as dual detection for safety purposes.
Prior to that, the rail construction firm had received a letter of acceptance from East Central Railway for an order worth Rs 186.76 crore, which entails "design, supply, erection, testing and commissioning of traction substations with associated switching posts for upgradation work of electric traction system from 1X25 to 2X25 KV AT feeding system in Gomoh-Patratu section of Dhanbad Division of East Central Railway".
For the quarter ended Sept. 30, the company had posted a profit of Rs 286.9 crore, compared to Rs 394.4 crore in the same period last year. Revenue from operations declined 1.2% to approximately Rs 4,855 crore in the July–September period as against Rs 4,914.3 crore in the year-ago period.
Shares of Rail Vikas Nigam closed 0.84% higher at Rs 469.9 apiece on the BSE, compared to a 0.47% decline in the benchmark Sensex.
