RVNL has informed the Exchange about Receipt of Letter of Award (LOA) from Delhi Metro Rail Corporation Limited.
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Awaiting price reaction for this filing.
RVNL has received a Letter of Award from Delhi Metro Rail Corporation (DMRC) for Contract D2C-02 under the Delhi MRTS Phase-IV Project. The scope involves part design and construction of a 7.298 km viaduct along with seven station platforms (Pushp Vihar, Saket District Court, Pushpa Bhawan, Chirag Delhi, GK-1, Andrews Ganj, and Lajpat Nagar). The project is valued at Rs. 447.42 crore inclusive of 18% GST. The work is to be completed within 36 months. No related party or promoter interest is involved in the awarding entity.
This is a positive development as it adds a healthy order from a reputed government client, strengthening RVNL's order book. However, the Rs. 447 crore order is modest relative to RVNL's overall revenue base, so the stock price impact is likely to be limited.