The National Highways Authority of India has awarded a Letter of Award (LOA) to Rail Vikas Nigam Limited (RVNL) in the amount of 808.48 crore.

The order is to upgrade the Chandikhole-Paradip Section of NH-53 (Old NH-5A) in Odisha from Km. 60.000 to Km. 76.646 from 4 to 8 lanes.

RVNL is a mid-cap company operating in the construction sector. It has a market capitalisation of Rs 25,166.19 Crore. The company's key product/revenue segment is income from construction work.

For the quarter ended on March 31, 2023, RVNL reported a consolidated total income of Rs 5,975.88 crore. This represents a 12.90% increase compared to the previous quarter's total income of Rs 5,293.00 crore, but a 10.10% decrease compared to the total income of Rs 6,647.52 crore in the same quarter of the previous year.

The company recorded a net profit after tax of Rs 341.43 crore in the latest quarter.