RVNL Secures Lowest Bidder Position for Maharashtra Metro Projects

RVNL Secures Lowest Bidder (L1) Position for Key Maharashtra Metro Projects
RVNL Secures Lowest Bidder (L1) Position for Key Maharashtra Metro Projects

by Tanushree Jaiswal Last Updated: Aug 31, 2023 - 07:29 pm 282 Views
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On August 30, 2023, the state-owned Rail Vikas Nigam Ltd (RVNL) announced its success as the lowest bidder (L1) for a series of significant projects under the purview of the Maharashtra Metro Rail Corporation Ltd (Maha Metro). These transformative projects are estimated to cost approximately ₹256.19 crore, as per a stock exchange filing.

Projects Secured by RVNL in the L1 Position

1. Six Elevated Metro Stations: RVNL will oversee the construction of six elevated metro stations, spanning from Pili Nadi to Lekha Nagar in Reach-2A.

2. Ecopark and Metro City Stations: RVNL will be responsible for constructing one elevated station, Ecopark, and one at-grade station, Metro City.

3. At-Grade Section Formation: RVNL will undertake earthwork, boundary wall construction, and retaining wall construction for at-grade sections.

4. Elevated Metro Track Supporting Structure: RVNL's expertise will play a crucial role in crafting elevated metro track supporting structures.

5. Multi-Storied Building: As part of Maha Metro's Phase-2 expansion, RVNL will construct a multi-storied building at Tulsi School land, located at Sitabuldi.

Currently, Shares of Rail Vikas Nigam Ltd are trading at ₹130.75, marking an increase of 1.75% on the BSE. After a remarkable surge from ₹60 to ₹140, Bharat Ratna RVNL Ltd entered a consolidation phase and is currently forming an Ascending Triangle Formation. The breakout point for this pattern is at ₹144. A strong close above this level would signify a pattern breakout.

Additionally, RVNL Emerges as L1 Bidder for MPPKVVCL Packages

Rail Vikas Nigam Ltd. was recently awarded the contract as the lowest (L1) bidder for two project packages by the Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Ltd. (MPPKVVCL) in Jabalpur. These two orders have a combined value of ₹280 crore.

Package 16: This order includes supply, installation, testing, and commissioning of new 11 KV lines, LT lines on AB cable, and other activities in the Chhatarpur circle of MPPKVVCL. The order is valued at Rs 126.8 crore.

Package 17: The second order, valued at ₹154.23 crore, is similar to the first order in terms of scope but must be executed in the Seoni & Narsinghpur circle of MPPKVVCL in the Jabalpur company area.

In a recent development, the government-owned company has secured contracts amounting to ₹11,256 crore from the Chennai Metro Rail Ltd. These contracts pertain to the construction of underground stations as part of the Phase-II project. The execution of these multiple contracts is slated to span a period of 1,725 days.

RVNL's Financial Performance

Rail Vikas Nigam Limited (RVNL) released its Q1FY24 results, reporting a 15% year-on-year increase in its consolidated net profits, reaching ₹343 crore during Q1, compared to ₹297.6 crore during the corresponding quarter of the previous fiscal year. The revenue from RVNL's operations also witnessed a 20% year-on-year growth, totaling ₹4,640.7 crore, up from ₹5,571.5 crore during Q1FY23.

However, it's worth noting that sequentially, the net profit of the company declined by 4%, standing at ₹359.3 crore during the quarter ending March 2023, and the revenue from operations also dropped by 2% quarter-on-quarter, amounting to ₹5,719.9 crore during Q4FY23.

In standalone terms, RVNL's net profit recorded a 17% increase from ₹283 crore during Q1FY23 to ₹333.5 crore during the period under review. The revenue from operations in standalone terms also rose by 17% to ₹5,446.2 crore during the same period.

The Earnings Per Share (EPS) of the company demonstrated growth, increasing from ₹1.43 during the same quarter of the previous year to ₹1.65 during the period under review. In standalone terms the Earnings Per Share (EPS) demonstrated growth, increasing from ₹1.36 in the first quarter of FY23 to ₹1.60 in the quarter concluding in June 2023.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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