KERALA (Metro Rail News): Rail Vikas Nigam Limited (RVNL) has secured a Rs 439 crore project in a joint venture with Kerala Rail Development Corporation (KRDCL) to transform the Thiruvananthapuram Central Railway Station, further cementing its role in India’s infrastructure growth.
The project, won by the KRDCL-RVNL joint venture, encompasses the engineering, procurement, and construction (EPC) model to upgrade the Thiruvananthapuram Central Railway Station. This comprehensive model ensures quality and efficiency throughout the development process.
Timeframe and Execution: The exchange notification highlighted that the project is slated for completion in 42 months.
RVNL and KRDCL Joint Venture
Ownership Split: RVNL and KRDCL have a strategic ownership arrangement in the joint venture, with RVNL holding 49% and KRDCL being the majority partner at 51%.
RVNL and TUMAS’s Synergy: Earlier in the month, RVNL expanded its horizons by signing a Memorandum of Understanding (MoU) with Turkish Engineering Consulting and Contracting-TUMAS India Pvt. Ltd. This partnership aims to strengthen infrastructure and public transport ventures within India.
Financial Highlights
Financial Performance: The company has reported a slight dip in net profits by 6.2% year-over-year, totalling ₹358.6 Crore for the October–December quarter, down from the ₹382.4 Crore earned during the same period last year.
Share Price Movement: Post-announcement, RVNL’s shares saw an uplift, closing at ₹285.5 per share, which is a 2.94% increase.
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