Rail Vikas Nigam wins ₹181-crore order from NE Railway for Lucknow division upgrade

State-owned Rail Vikas Nigam Ltd (RVNL) on Friday (November 21) said it has emerged as the lowest bidder (L1) for a Northern Railway project involving the design, supply, erection, testing, and commissioning

of overhead equipment (OHE) modification and feeder wire work of a 2x25 kV traction system.

The work aims at capacity upgradation of the UTR-MWP section, covering 184 RKM/368 TKM in the Lucknow division of NE Railway. The project, to be executed in the normal course of business, will be completed over 24 months.

Also Read: RVNL emerges as lowest bidder for ₹165.5 cr railway project

It has a total cost of ₹180.77 crore, including applicable taxes. The contract does not involve any promoter or promoter group interest, nor does it fall under related party transactions.

Second Quarter Results

Rail Vikas Nigam reported a 19.7% year-on-year decline in its net profit for the September quarter at ₹230.3 crore, compared to ₹286.9 crore in the same period last year. The company’s revenue from operations rose 5.5% to ₹5,123 crore from ₹4,855 crore a year ago.

However, operating performance weakened, with EBITDA falling 20.3% to ₹216.9 crore from ₹272 crore in the corresponding quarter last year. The EBITDA margin contracted to 4.2% from 5.6% a year earlier, reflecting cost pressures and reduced profitability despite higher revenue.

Also Read: RVNL emerges lowest bidder for ₹213 crore order from South Central Railway; shares rise

However, the profitability is significantly better compared to the preceding three months ended June 2025, when the EBITDA margin was just 1.4%. Even the topline was down in the first quarter of the current financial year.

Shares of Rail Vikas Nigam Ltd ended at ₹314.05, down by ₹5.05, or 1.58%, on the BSE today, November 21.