Rail Vikas Nigam Limited (RVNL) has been awarded a significant contract valued at ₹39.21 crore by NMDC Limited. The contract involves the construction of a residential campus for senior and board-level executives at Banjara Hills, Hyderabad, marking the second phase of this project.
The project, which falls under the normal course of business for RVNL, is expected to be completed within a 15-month timeframe. The contract is a domestic one and includes a general contract conditions agreement. The total contract value includes GST at 18%.
There are no related party transactions involved in this contract, and neither the promoter group nor the group companies of RVNL have any interest in NMDC Limited.
This project underscores RVNL’s continued expansion in the construction sector, specifically in developing infrastructure for executive residences.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).