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Informist, Tuesday, May 26, 2026

By Ashutosh Pati and Rajesh Gajra

MUMBAI – Rail Vikas Nigam Ltd. expects its top line for 2026-27 (Apr-Mar) to grow 15-20% on a yearly basis. However, the June quarter is seen as being "slightly challenging", the company's managment said Tuesday in the post-March quarter earnings conference call with analysts and investors. Rail Vikas also expects improvement in its margins this year. The company's standalone revenue for FY26 was nearly flat at INR 200.12 billion.

The public-sector railway infrastructure company maintained a strong order book of INR 992.62 billion as of Mar. 31, despite market and sectoral headwinds. This comprised of INR 570 billion for railways, followed by INR 149 billion for signalling, INR 104 billion for ports, roads and highways, and INR 99 billion for metros. Orders related to power and transmission were around INR 40 billion and hydro and irrigation projects orders were at INR 20 billion, the management said.

Even though the company has a strong order book, it is currently facing challenges to execute these orders. "We are using latest technologies, like we are using a pay model...using drones for the site, you know, inspection. And we are using many kinds of software which give us dashboards and give us the performance on our dashboard. So, many things are being done at every level from the supervisory to the top management and our focus is for the faster execution of the work and timely execution of the work," a top official said.

The company is expecting "good" revenue and profit margin from its BharatNet project, awarded by Bharat Sanchar Nigam Ltd. to provide high-speed broadband connectivity in rural areas through optical fibre cable infrastructure. The momentum of the project's execution has improved significantly and is now progressing at a "good pace" across locations, the management said. The company has achieved 15.01% of physical progress in the project till date.

The company's 125 kilometre Rishikesh-Karnaprayag rail project has achieved 74% progress with around 96% of tunnel excavations done. The project is expected to be completed by December 2029. Rail Vikas expects the first prototype for Vande Bharat sleeper train to be launched in December. The whole Vande Bharat order book is to be completed in five years, the management said.

"The first year after prototype, we have to supply, because after supplying the prototype, it takes around three to four months' time for the various trials and other appearances by industry. Thereafter, in first year, five sets will be supplied. Thereafter, it will be increased and the total 120 sets will be supplied in five years' time," an official said.

The company reported net profit of INR 2.12 billion for the March quarter, down over 43% on year. Its revenue rose around 5% on year to INR 66.48 billion for the quarter. Tuesday, shares of the company closed at INR 259.75 on the National Stock Exchange, down 4.7% from Monday.  End

Edited by Akul Nishant Akhoury

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