RVNL bags 3 LoAs from Chennai Metro Rail

The first LoA entails construction of five underground stations at KMC (Kilpauk), sterling road in, Nungambakkam, Gemlni (Anna flyover), thousand lights and thousand lights cross over box and works other than diaphragm wall of two underground stations at Royapettah Govt. hospital (Roy Apettah) & Chetpet Metro in corridor 3 of CMRL phase-ii project.

The project has to be executed within a 1725 days and consideration of the order stood at Rs 1,730.59 crore.

RVNL said that the subsequent LoA is for the construction of four underground stations at Dr.Radhakrishnan Sala, Thirumayilai, Mandaneli, and Adyar junction and two cross passage shafts and one emergency escape shaft and works other than diaphragm wall of one underground station at greenways road metro in corridor-3 of CMRL phase-ii project.

This project is to be executed within a 1725 days and consideration of the order stood at Rs 1,461.97 crore.

Lastly, the company received a LoA for construction of three underground stations at Adyar Depot, Indira Nagar and Taramani road junction (Taramani) and ramp and works other than diaphragm, wall of underground station at Thiruvanmiyur Metro in corridor-3 of CMRL phase-ii project. The project has to be executed within a 1630 days and consideration of the order stood at Rs 865.62 crore.

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. As of 31 March 2023, the Government held 78.20% stake in the company.

The company's net profit declined 5% to Rs 359.25 crore on 11.15% decrease in revenue from operations to Rs 5,719 crore in Q4 FY23 over Q4 FY22.

The scrip declined 1.49% to end at Rs 122.55 on the BSE.

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