Rail Vikas Nigam (RVNL) announced that it has received a letter of acceptance (LoA) worth Rs 39.21 crore from NMDC for the construction of a residential campus in Hyderabad.
The project involves the development of a residential complex for senior and board-level executives at Banjara Hills, Hyderabad (Phase II). RVNL stated that the contract is scheduled to be completed within 15 months.
The company also clarified that neither its promoters nor any group entities have any interest in NMDC, and the contract does not fall under related party transactions.
RVNL, a Government of India enterprise, is engaged in implementing rail infrastructure projects across the country. As on December 2025, the Government of India held a 72.84% stake in the company. On a consolidated basis, the company reported a 3.65% rise in net profit to Rs 322.83 crore in Q3 FY26, compared to Rs 311.44 crore recorded in Q3 FY25. Revenue from operations rose 2.56% YoY to Rs 4,684.46 crore in Q3 December 2025. The counter rose 0.83% to Rs 308.50 on the BSE.
NMDC is engaged in the exploration and production of iron ore along with diamond production and the sale of sponge iron and the generation and sale of wind power. The companys consolidated net profit declined 6.66% to Rs 1,756.59 crore on a 15.9% rise in revenue from operations to Rs 7,610.79 crore in Q3 FY26 over Q3 FY25. Shares of NMDC rose 0.51% to Rs 90.88 on the BSE.
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First Published: Apr 29 2026 | 8:16 AM IST
