RVNL rises after JV bags LoA for contract worth Rs 252 cr in Gujarat

28 Mar 2023 CW Team

Rail Vikas Nigam (RVNL) rose 1.14% to Rs 65.40 after the company announced that the Rachana-RVNL joint venture (JV) had received the letter of acceptance (LOA) for a Rs 252.21 crore project in Gujarat.

The project scope includes the EPC upgrade to six lanes with a paved shoulder of the Sarkhej-Changodar Section of NH-SA (New NH-47) for the Ahmedabad-Bagodara-Rajkot road in Gujarat. (Package-7).

The project will cost Rs 252.21 crore. According to the agreement, Rachana Construction will own 60% of the project, while RVNL will own 40%.

The project is expected to take 30 months to complete.

Rail Vikas Nigam is in the business of completing all types of railway projects, such as new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, cable stayed bridge construction, institution buildings, and so on. The government owned 78.2% of the company as of December 31, 2022.

In Q3 FY23, the company reported a 30.5% increase in consolidated net profit to Rs 382.42 crore, up from Rs 293.01 crore in Q3 FY22. Revenue from operations fell slightly to Rs 5,012.09 crore in Q3 FY23, compared to Rs 5,049.24 crore in the same quarter last year.

Also Read
5,000 km highway stretch in Kerala, Karnataka, TN electrified by BPCL
Assam CM Sarma dedicates and launches projects worth Rs 5.45 billion

Real Estate

23 Oct 2025

What Does Home Insurance Really Cover?

Home insurance is one of the most important protections a homeowner can have. It offers financial cover for unexpected damages, losses, or liabilities related to your property. However, many homeowners are not fully aware of what is actually included in their home insurance policy.This guide breaks down what home insurance really covers, so you can be better prepared and make informed decisions.What is home insurance?Home insurance is a financial product that protects your house and belongings against damage, theft, or accidents. It generally includes coverage for the building itself, as ..

Hettich Strengthens Industry Ties at Madhya Pradesh Investment Meet

Hettich India, a global leader in furniture fittings, reinforced its commitment to Madhya Pradesh’s industrial growth as a Guest of Honour at an Interactive Session on Investment Opportunities in Power, Renewable Energy Equipment, and White Goods Manufacturing, hosted by the Government of Madhya Pradesh in partnership with the Confederation of Indian Industry (CII) at Hotel Trident, Nariman Point, Mumbai.The session, chaired by Dr Mohan Yadav, Hon’ble Chief Minister of Madhya Pradesh, brought together leading domestic and international investors, industry representatives, and business lead..

Raimondi Names New Saudi Branch Head

Raimondi Middle East has announced the appointment of Ahmad Shakkour as Branch Manager for the Kingdom of Saudi Arabia, reinforcing the company’s commitment to expanding its presence in one of its key regional markets.With Saudi Arabia driving a wave of large-scale infrastructure and urban development projects, Raimondi aims to strengthen its on-ground operations and customer engagement. The company currently has over 100 cranes deployed across the country and continues to expand its technical and service teams to support growing demand.“Saudi Arabia represents a cornerstone of our regiona..