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RVNL spurts on bagging multiple orders worth Rs 1,140 cr | Capital Market News

BusinessRVNL spurts on bagging multiple orders worth Rs 1,140 cr | Capital Market News


Rail Vikas Nigam (RVNL) rallied 3.99% to Rs 247.50 after the company received an order from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (MPPKVVCL) and Himachal Pradesh State Electricity Board (HPSEBL), aggregating to Rs 1,139.61 crore.

The company has received an order from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (MPPKVVCL) for supply, installation, testing and commissioning of 11 KV line associated works such as 11 KV Line Bifurcation, 11 KV Line Interconnection, 11 KV Line Conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and Results-linked Distribution Sector (Package-I I), in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni, Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur and Umariya Circles of MPPKVVCL, Jabalpur Company Area.

The said order is worth Rs 251.05 crore and it is expected to be completed within 24 months.

Meanwhile, the company has received Letter of Award (LoA) from Himachal Pradesh State Electricity Board (HPSEBL) for development of distribution infrastructure at south zone of Himachal Pradesh under the revamped reformsbased and results-linked, distribution sector scheme (loss reduction works).

The total cost of the project is Rs 888.56 crore (the supply portion including tax is Rs 782.69 crore and installation portion including tax Rs 105.86 crore.) and it will be executed within 24 months.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

The civil construction company reported 6.24% decline in consolidated net profit to Rs 358.57 crore on 6.44% fall in revenue from operations to Rs 4,689.33 crore in Q3 FY24 over Q3 FY23.

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First Published: Mar 11 2024 | 11:00 AM IST



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