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RVNL bags Rs 2,977-cr contract from NMDC for Vizag infrastructure project

20-Jun-26 13:50 Hrs IST

The contract involves setting up buffer stockpiles and a blending yard with a handling capacity of 10 million tonnes per annum (MTPA) at Visakhapatnam. The project is to be executed over a period of 42 months. The order has been awarded by NMDC, a domestic entity, and is valued at Rs 2,977 crore.

RVNL clarified that neither its promoter nor promoter group companies have any interest in the awarding entity. The company also stated that the contract does not fall under related-party transactions.

RVNL, a Government of India enterprise, is engaged in implementing rail infrastructure projects across the country. As of March 2026, the Government of India held a 72.84% stake in the company. Rail Vikas Nigam (RVNL) declined 3.47% to Rs 263.10 after the company's consolidated net profit fell 58.92% to Rs 187.07 crore on a 4.18% increase in revenue from operations to Rs 6,695.91 crore in Q4 FY26 over Q4 FY25. The counter fell 1.43% to end at Rs 244.10 on the BSE.

NMDC is engaged in the exploration and production of iron ore along with diamond production and the sale of sponge iron and the generation and sale of wind power. The company reported 35.03% jump in standalone net profit to Rs 2,020.13 crore on 60.69% jump in revenue from operations to Rs 11,173.14 crore in Q4 FY26 over Q4 FY25. The scrip shed 0.07% to Rs 88.43 on the BSE.

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