The project involves all civil engineering works (earthwork, blanketing, retaining wall /boundary wall/ side drain, major bridges, minor bridges and LHS/RUB, LCs, construction of station buildings, platform, subways cover over platforms, staff quarters, passenger amenities, circulating area, approach roads, offices, service buildings, watering, sanitation, protection works etc.) and supply of 50 mm machine crushed stone ballast, complete track works including linking of track works in connection with gauge conversion work between Nadiad- Petlad (37.26 kms) of Vadodara Division of Western Railway.

In the joint venture entity, the share of RVNL is 74% and that of MPCC is 26%.

The project has to be executed within a period of two years.

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.

The company reported 15.19% rise in consolidated net profit to Rs 342.90 crore on 20.15% increase in revenue from operations to Rs 5,571.57 crore in Q1 FY24 over Q1 FY23.

The scrip fell 2.65% to currently trade at Rs 165.15 on the BSE.