RVNL Secures ₹39 Crore Contract for Residential Project in Hyderabad
RVNL secures Rs 39-cr LoA from NMDC for Hyderabad residential project
Business Standard
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Rail Vikas Nigam Limited (RVNL) has received a ₹39.21 crore letter of acceptance from NMDC for a residential campus project in Banjara Hills, Hyderabad. The project, aimed at senior executives, is set for completion within 15 months, contributing to RVNL's ongoing rail infrastructure initiatives.
- 01RVNL received a ₹39.21 crore contract from NMDC for a residential project.
- 02The project is located in Banjara Hills, Hyderabad, and targets senior executives.
- 03Completion is scheduled within 15 months.
- 04RVNL reported a 3.65% increase in net profit for Q3 FY26.
- 05NMDC's consolidated net profit decreased by 6.66% in the same quarter.
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Rail Vikas Nigam Limited (RVNL) has announced that it secured a letter of acceptance (LoA) worth ₹39.21 crore from the National Mineral Development Corporation (NMDC) for the construction of a residential campus in Banjara Hills, Hyderabad. This project is intended for senior and board-level executives and is expected to be completed within 15 months. RVNL clarified that there are no related party transactions involved, as neither its promoters nor any group entities have interests in NMDC. As of December 2025, the Government of India holds a 72.84% stake in RVNL. In its recent financial results, RVNL reported a 3.65% rise in net profit to ₹322.83 crore for Q3 FY26, compared to ₹311.44 crore in the same quarter the previous year. Revenue from operations also increased by 2.56% year-on-year to ₹4,684.46 crore. Meanwhile, NMDC's consolidated net profit dropped by 6.66% to ₹1,756.59 crore, despite a 15.9% rise in revenue from operations to ₹7,610.79 crore in Q3 FY26.
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The construction of the residential campus is expected to provide housing solutions for senior executives, potentially boosting local employment and the economy in Hyderabad.
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