Mumbai, June 26 -- Rail Vikas Nigam has secured a Rs 29.77 billion (bn) contract from NMDC to develop infrastructure facilities at Visakhapatnam in Andhra Pradesh. The scope includes the construction of buffer stockpiles and a blending yard with a handling capacity of 10 million tonnes per annum (10 mn t per annum), to be completed over a period of 42 months. The award, valued at Rs 29.77 bn, was described as a domestic order.
NMDC has assigned the order to RVNL, and the latter clarified that neither its promoter nor promoter group companies have any interest in the awarding entity and that the contract does not constitute a related-party transaction. RVNL is a Government of India enterprise tasked with implementing rail infrastructure projects nationwide. As of March 2026, the Government of India held a 72.84 per cent stake in the company.
In trading, RVNL shares declined following the release of quarterly results. The company reported consolidated net profit that fell 58.92 per cent to Rs 1.87 bn in Q4 FY26 compared with Q4 FY25 on a 4.18 per cent rise in revenue from operations to Rs 66.96 bn. The counter fell by 3.47 per cent to Rs 263.10 during intraday trading and ended lower at Rs 244.10 on the BSE.
NMDC, which is engaged in iron ore exploration and diamond production as well as the sale of sponge iron and wind power generation, reported a standalone net profit rise of 35.03 per cent to Rs 20.20 bn in Q4 FY26 on a 60.69 per cent increase in revenue to Rs 111.73 bn. The scrip eased marginally and closed at Rs 88.43 on the BSE. RVNL will execute the project over the prescribed 42-month timeframe.
Published by HT Digital Content Services with permission from Construction World.