In a regulatory filing, the company said, “RVNL-MPCC JV has emerged as the lowest bidder (L1) for 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 Petlad - Bhadran (22.50Kms) of Vadodara division of Western Railway.”

The cost of the project is Rs 174,27,33,879.97 and it is to be executed in 2 years. According to the deal, RVNL will hold 74% of the share while MPCC share will be 26% in the project.

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.