In an exchange filing made after market hours on Friday, the company said that Rail Vikas Nigam SCC Infrastructure (RVNL-SCC) JV has received letter of award (LoA) for “planning, design and construction of main canal and structures including associated distribution system to provide irrigation facility to 41,903 hectares area through piped irrigation network for upper high-level canal of Mahi Bajaj Sagar Project, Banswara (Raj), on engineering, procurement and construction (EPC) single responsibility turnkey basis, including 10 years O&M.”

The domestic project has to be completed within a period of 42 months.

The cost of project is Rs 22,48,94,13,999 and RVNL's share is 51% while that of SCC is 49%.

RVNL is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc. It was recently accorded with the status of 'Navratna' central public sector enterprise (CPSE) by the Finance Ministry. As of 31 March 2023, the Government held 78.2% stake in the company.

In Q3 FY23, the company's consolidated net profit increased by 30.5% to Rs 382.42 crore compared to Rs 293.01 crore in Q3 FY22. However, revenue from operations slightly decreased to Rs 5,012.09 crore from Rs 5,049.24 crore in the same quarter last year.