Rail Vikas Nigam Ltd received a letter of acceptance from South Central Railway for a project worth Rs 294.94 crore.

The engineering procurement construction (EPC) contract is for doubling the track between Navipet and Indalvai stations in Telangana.

It also covers the South Central Railway's electrification and signalling improvements for the Mudkhed-Medchal doubling project.
The deal is expected to be finished in 24 months.

The company recently announced its second-quarter statistics, which showed a big reduction in profit and a minor decrease in revenue.

The company's net profit decreased 27% to Rs 286.9 Crore from the previous year's Rs 394.3 crore, owing to lower operating margins and profitability.

The rail PSU's revenue from operations decreased by 1.2% year on year to Rs 4,855 Crore, from Rs 4,914.3 Crore in Q2 FY24. EBITDA fell 9% to Rs 271.5 Crore, with margins dropping to 5.6% from 6% in the previous year, showing increased operational constraints.

Earlier this month, the company's joint venture with SCPL was the lowest bidder for an Eastern Railway project for Rs 837.67 Crore.