State-owned Rail Vikas Nigam Ltd (RVNL) has received a Letter of Acceptance from Rail Infrastructure Development Company (Karnataka) Ltd (K-RIDE) for the construction of nine stations under Corridor-4A of the Bengaluru Suburban Rail Project (BSRP). The company made this announcement in a stock exchange filing on Tuesday.
The ₹554.47-crore contract includes the construction of one elevated and eight at-grade stations at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, and Kaggadasapura.
The project scope includes civil and structural work, entry and exit structures, steel foot-over bridges, roof structures, pre-engineered building (PEB) works, architectural finishes, and electrical and mechanical (E&M) works. The project will be executed over 24 months through a joint venture, with RVNL holding a 51% stake and Rithwik Projects Private Ltd (RPPL) holding 49%.
RVNL reported a 13.1% year-on-year (YoY) decline in net profit for the third quarter ending December 31, 2024. The company recorded a net profit of ₹311.6 crore, down from ₹358.6 crore in the same period of FY24. Revenue also saw a 2.6% decline, falling to ₹4,567.4 crore from ₹4,689.3 crore in the year-ago period.
At the operating level, EBITDA (earnings before interest, tax, depreciation, and amortisation) fell 3.9% YoY to ₹239.4 crore in Q3FY25 from ₹249 crore in Q3FY24. The EBITDA margin remained largely stable at 5.2%, compared to 5.3% in the corresponding period of the previous fiscal.
On February 18, 2025, RVNL share price ended 2.77% lower at ₹333.10. RVNL’s share price reached a 52-week high of ₹647.00, and a 52-week low of ₹213.00. As per BSE, the total traded volume for the stock stood at 13.33 lakh shares with a turnover of ₹44.25 crores.
At the current price, RVNL shares are trading at a price-to-earnings (P/E) ratio of 55.61x, based on its trailing 12-month earnings per share (EPS) of ₹5.99, and a price-to-book (P/B) ratio of 8.74, according to exchange data.
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Published on: Feb 19, 2025, 9:02 AM IST
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