RVNL bags ₹270-crore metro station project in Maharashtra – CNBC TV18
State-owned Rail Vikas Nigam Ltd (RVNL) on Monday (December 16) said it has received a letter of acceptance from Maharashtra Metro Rail Corporation Ltd for the construction of 10 elevated metro stations as part of the second phase of the Nagpur Metro Rail Project (NMRP).
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“…it is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from Maharashtra Metro Rail Corporation Ltd for “Construction of: (A) Elevated Metro Stations Seven Nos. in Reach 3A, Namely-(1) Hingna Mount View (2) Rajiv Nagar (3) Wanadongri (4) APMC (5) Raipur (6) Hingna Bus Station (7) Hingna, (B) Elevated Metro Stations Three Nos. in Reach 4A, Namely- (1) Pardi (2) Kapsi Khurd (3) Transport Nagar of NMRP Phase-2,” Rail Vikas Nigam Ltd said in a regulatory filing.
The contract is valued at ₹270 crore, inclusive of GST, and is expected to be completed within 30 months. The project includes the construction of seven elevated metro stations in Reach 3A, namely Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna. Additionally, three elevated metro stations in Reach 4A — Pardi, Kapsi Khurd, and Transport Nagar — are part of the scope.
Also Read: Railway PSU RVNL gets Letter of Award for ₹111 crore project from Southern Railway
RVNL’s net profit fell 27% year-on-year (YoY) to ₹286.9 crore, down from ₹394.3 crore in the same period last year, due to lower operating margins and reduced earnings. Revenue from operations for the rail PSU declined by 1.2% YoY to ₹4,855 crore, compared to ₹4,914.3 crore in Q2 FY24.
EBITDA dropped 9% to ₹271.5 crore, with margins narrowing to 5.6% from 6% in the year-ago period, indicating rising operational pressures.
On a quarter-on-quarter (QoQ) basis, RVNL’s profit rose by 28.1%, while revenue increased by 19.2% in Q2 FY25, reflecting some sequential improvement in performance. Tax expenses for the quarter fell slightly by 0.5% YoY to ₹4,731.5 crore but saw a 17.2% QoQ increase.
Shares of Rail Vikas Nigam Ltd ended at ₹469.90, up by ₹3.90, or 0.84%, on the BSE.
Also Read: RVNL gets letter of acceptance for ₹187-crore East Central Railway project
(Edited by : Shoma Bhattacharjee)
