IRCON International Limited announced that it has received a Letter of Award (LOA) from Rail Vikas Nigam Limited (RVNL) for a significant railway infrastructure project in Madhya Pradesh.
According to the company’s stock exchange filing on July 18, 2025, the project involves the construction of the roadbed, minor bridges, buildings, installation of track (excluding supply of rails, sleepers, and thick web switches), and other civil and general electrical works. The project is part of a new broad-gauge railway line between Pipaliya Nankar (excluding) and Budni (including) stations in the Indore-Budni section of Bhopal Division, West Central Railway.
The total contract value is approximately ₹755.78 crore (including GST), of which IRCON’s share is ₹529.05 crore. The project will be executed in a joint venture (JV) with JPWIPL, where IRCON holds a 70% share and JPWIPL holds the remaining 30%.
The order is structured as an item-rate domestic contract and is expected to be executed over a period of 36 months, plus a defect liability period of six months.
IRCON clarified in its disclosure that neither its promoter nor promoter group companies have any interest in the awarding entity, and the transaction does not fall under related party transactions.
The board of IRCON noted the award as a testament to the company’s continued expertise and leadership in executing critical railway projects across India.
Disclaimer: All statements, figures, and quotes in this article are based on the company’s regulatory filing dated July 18, 2025. The author and Business Upturn are not liable for the accuracy of the information or any decisions taken based on this report.