RVNL wins Rs 2.03 billion project contract from South Eastern Railway

11 Jul 2024 CW Team

Rail Vikas Nigam Limited (RVNL), a public sector enterprise, announced that it has emerged as the lowest bidder for a contract worth Rs 2.03 billion from the South Eastern Railway. The project involves the design, supply, erection, testing, and commissioning of certain power systems on the Kharagpur-Bhadrak section of the Kharagpur division. The contract specifies the establishment of a 132 KV Traction Substation, Sectioning Posts (SPs), and Sub-sectioning Posts (SSPs) in a 2x25KV System along the Kharagpur-Bhadrak section. The project is expected to be completed within 18 months; the company informed stock exchanges in a filing. In a separate development, RVNL signed a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation (DMRC) this month. The agreement outlines collaboration and joint efforts as a Project Service Provider for design, construction, and consultancy projects both in India and abroad. Last month, RVNL secured a Rs 1.91 billion contract from the South Eastern Railway and received a Letter of Acceptance from Eastern Railway for constructing a bypass line in Sitarampur, under the Asansol Division, valued at Rs 3.91 billion.

Under the Ministry of Railways, RVNL was granted 'Navratna' status last year, allowing the company to invest up to Rs 10 billion without needing approval from the central government. Incorporated as a PSU on January 24, 2003, RVNL's primary objective is to implement projects for the creation and augmentation of rail infrastructure capacities. The company was granted Mini-Ratna status in September 2013.

In 2024, RVNL's shares have risen by approximately 200%, and over the past 12 months, they have surged around 350%.

(Source: ET)

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..