+
RVNL rises after JV bags LoA for contract worth Rs 252 cr in Gujarat
ROADS & HIGHWAYS

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

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

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

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code