The project involves construction of key bridges on Bhadrak–Vizianagaram section; execution timeline set at three years; shares of Rail Vikas Nigam Ltd end at ₹294.48 on April 16, up ₹7.42 or 2.58%.
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Rail Vikas Nigam Limited (RVNL) said on Thursday, April 16, that it has emerged as the lowest bidder (L1) for a project awarded by East Coast Railway involving the construction of key railway bridges on the Bhadrak-Vizianagaram section.
The total contract value stands at ₹967.9 crore, including 18% GST.
As per the exchange filings, the project covers the third and fourth line between Nergundi–Barang (22 km) and Khurda Road–Vizianagaram (363 km), spanning a total of 385 km. It includes construction of major bridges over rivers Birupa, Mahanadi, Kathajori and Kuakhai using open web steel girders on an EPC mode basis.
The company said the contract has been awarded by a domestic entity under general contract conditions and is to be executed within a period of three years.
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The company clarified that neither its promoter group nor related entities have any interest in the awarding authority, and the contract does not fall under related party transactions.
In Q3 FY26 results, RVNL’s revenue for the period increased by 2.6% from last year to ₹4,684 crore from ₹4,567 crore earlier. Its earnings before interest, tax, depreciation and amortisation (EBITDA) for the period narrowed by 8% from the year-ago period to ₹220.8 crore from ₹239.4 crore last year.
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Shares of Rail Vikas Nigam Ltd ended at ₹294.48 on April 16, up ₹7.42 or 2.58%. The stock saw positive momentum in the session.
(Edited by : Shoma Bhattacharjee)
