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The order comprises rehabilitation and upgradation from 4 to 8 laning of Chandikhole - Paradip section of NH-53 (Old NH- 5A) in the State of Odisha on HAM (hybrid annuity model) mode.
The project cost stands at Rs 808.48 crore and is to be executed within 24 months.
Rail Vikas Nigam 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. As of 31 March 2023, the Government held 78.20% stake in the company.
The company's net profit declined 5% to Rs 359.25 crore on 11.15% decrease in revenue from operations to Rs 5,719 crore in Q4 FY23 over Q4 FY22.
The scrip declined 0.73% to end at Rs 121.95 on Friday, 8 July 2023.
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