On Monday, June 10, the Siemens-RVNL consortium received a letter of acceptance from Bangalore Metro Rail Corporation Ltd (BMRCL) for a project worth ₹394 crore. This project entails engineering, supply, erection, testing, and commissioning of 33 KV distribution, 750V DC third rail traction electrification, including traction substations, auxiliary substations, and SCADA systems for phases 2A and 2B of the Bangalore Metro.
Siemens Ltd holds a 70% stake in the consortium, while Rail Vikas Nigam Ltd (RVNL) holds the remaining 30%. The news follows RVNL’s recent financial report, showing a 33.2% year-on-year increase in net profit to ₹478.6 crore for Q4 ending March 31, 2024, compared to ₹359 crore in the same quarter last year.
Revenue from operations rose by 17.4% to ₹6,714 crore, up from ₹5,719.8 crore in the previous fiscal period. The company’s EBITDA increased by 21.8% to ₹456.4 crore, with an EBITDA margin of 6.8%, slightly higher than the 6.6% margin in the prior fiscal year.
RVNL, serving as an executing arm of Indian Railways, handles projects assigned by the Ministry of Railways. Shares of Rail Vikas Nigam Ltd ended at ₹373.80, marking a 0.16% increase on the BSE.