Rail Vikas Nigam hosted a conference call on Feb 19, 2025. In the conference call the company was represented by Pradeep Gaur, CMD and Sanjeeb Kumar, Director (Finance) & CFO.

Key takeaways of the call

Order book (excluding Vande Bharat order) is Rs 97000 crore with execution period of 3-4 years. OF the OB the railway order book is about Rs 47600 crore.

Confident of achieving revenue guidance of Rs 21000 crore for FY25 with Rs 8000 crore of revenue in Q4FY25.

Vande Bharat contract -  Railways wanted some change in the configuration of the train from 16 coaches to 24 coaches in Jun/july 2024.  This decision led to change in design and all those things. But railways have gone back to again original 16 coach train. So, this has sort of put back the whole, this initiative by around 8 to 9 months.   So the first prototype, which was supposed to be in September/October 2025, will now take place somewhere in the first half of the next year. The contract is in rupees. The total contract is around 30,000 crores, out of which RVNL  share is 25%, which comes to around Rs 7,500 crores.

Overseas orders : already got some foreign projects through bidding or through MoU such as solar projects in Uzbekistan and the Kingdom of Saudi Arabia; Transmission Line project in Congo. And it is actively bidding for the railway and metro projects in Turkey, and simultaneously it is also exploring options for railway projects in Peru through government to government contracting. And already one international project is execution in Maldives, that is a harbor project.

  BharatNet order is valued around Rs 13200 crore and recently it got a letter of acceptance.  This contract provides a mobilization advance of almost Rs 1,000 crores free of interest. It opens up a huge vista of opportunities for RVNL in telecom sector, which is a very, very sort of sunrise sector for the country. The company is forming a SPV for this project where it will have 100% stake. 

 Kyrgyzstan railway project -  The Government of Kyrgyzstan is tying up for the finances for that project. RVNL already submitted the DPR for that project and based on their evaluation, there were certain issues with the lending rate from the foreign bankers, so that the Government of Kyrgyzstan is trying to resolve it. Hope this project will see light soon.

Profit from assiociate would be Rs 130 crore if we exclude the Rs 76 crore loss in Kinet JV. 

RVNL bid for projects worth around Rs 80,000 crores this year and so far got orders of Rs 23,000 crores. The company is awaiting for outcome for projects worth about Rs 20000 crore  out of the bidding.