RVNL emerges as lowest bidder for Bengaluru rail project, shares climb 5%

The project includes constructing stations at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, and Kaggadasapura.

Moneycontrol News

November 06, 2024 / 09:53 IST

Rail Vikas Nigam Ltd (RVNL)

26 Aug, 2025 12:21

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Shares of Rail Vikas Nigam Ltd (RVNL) surged nearly 5 percent on November 6 after the company, in partnership with Rithwik Projects Pvt Ltd (RPPL), emerged as the lowest bidder (L1) for a major contract with Rail Infrastructure Development Company (Karnataka) Ltd.

By 9:34 AM, RVNL's shares traded 4 percent higher at Rs 467.25. The stock gained 155 percent on a year-to-date basis, well above the Nifty 50's 12 percent rise over the same period. RVNL shares delivered strong monthly gains from March through August 2024 but faced a dip in September and October, yielding negative returns over the two months.

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The awarded contract, valued at Rs 613 crore, forms a significant part of the Bengaluru Suburban Rail Project (BSRP) under Package C4A. This package involves building nine stations—one elevated and eight at-grade—along Corridor-4A. The project includes constructing stations at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, and Kaggadasapura.

The works involve civil, structural, and architectural tasks, along with electrical and mechanical (E&M) installations. The JV partners will share the project at a 51:49 split, with RVNL holding the majority.