Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- Receipt of Letter of Award (LOA) from National Mineral Development Corporation (NMDC) Limited
RVNL · price
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Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from NMDC Limited, a fellow government PSU, for the construction of Residential Towers and a Shopping Complex in Bacheli, Chhattisgarh. The project is valued at Rs. 644.84 crore inclusive of all taxes and is to be executed over 34 months. The contract is a domestic general construction order with no related party interest. The work falls within RVNL's normal course of business.
This is a new order win worth nearly Rs. 645 crore for RVNL, which adds to its order book and provides revenue visibility over the next 34 months. While positive for business momentum, this is a civil construction project outside RVNL's core railway infrastructure focus, so the stock impact is likely to be modest.