Shares of Rail Vikas Nigam Limited (RVNL) were trading in the green and 1% higher on 26 February after the company announced securing letters of acceptance (LoAs) from National Mineral Development Corporation (NMDC) for two projects in Kirandul, Chhattisgarh, totalling Rs 656.21 crore.

The first contract is for the construction of a residential tower in Kirandul at a cost of Rs 284.52 crore. The project is scheduled to be completed within 16 months. The second order is for the development of a township in Kirandul, Chhattisgarh. The project cost Rs 371.69 crore and is expected to be finished in 21 months.

Both contracts were awarded by NMDC, a domestic body, on general contract terms. The contracts cover residential and township infrastructure development.

RVNL stated that neither the promoter nor the promoter group entities have an interest in NMDC. The corporation further argued that the contracts do not constitute linked party transactions.

Rail Vikas Nigam is working on a variety of railway infrastructure projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, cable-stayed bridges, and institutional buildings.

In the third quarter of FY26, the company’s total net profit increased by 3.65% to Rs 322.83 crore, up from Rs 311.44 crore in the previous year. Revenue from activities increased 2.56% year on year to Rs 4,684.46 crore in the quarter ending 31 December, 2025.

At 3:30 pm, the shares of RVNL closed 0.13% higher at Rs 318 on NSE.

Tired of missing hot stocks? Tradz by EquityPandit provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!