RVNL bags NHAI contract for road upgradation in Odisha
Rail Vikas Nigam Limited (RVNL) has received a Letter of Award (LOA) worth 808.48 crores from the National Highways Authority of India. The order is for the rehabilitation and upgradation from 4 to 8 laning of Chandikhole - Paradip Section of NH-53 (Old NH-5A) from Km. 60.000 to Km. 76.646 in the State of Odisha.
RVNL is a mid-cap company operating in the construction sector. It has a market capitalisation of Rs 25166.19 Crore. The company's key product revenue segment is income from construction work.
For the quarter ended on March 31, 2023, RVNL reported a consolidated total income of Rs 5975.88 crore. This represents a 12.90 per cent increase compared to the previous quarter's total income of Rs 5293.00 crore but a 10.10 per cent decrease compared to the total income of Rs 6647.52 crore in the same quarter of the previous year. The company recorded a net profit after tax of Rs 341.43 crore in the latest quarter.
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