Rail Vikas Nigam Limited has announced the receipt of a significant Letter of Award from National Mineral Development Corporation (NMDC) Limited for a major residential construction project in Chhattisgarh. The company disclosed this development to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Details and Scope

The awarded contract involves the construction of residential towers at Iron Ore Deposit-5 at Bacheli, Chhattisgarh. This project represents a substantial addition to Rail Vikas Nigam Limited's portfolio in the construction and infrastructure development sector.

Financial and Commercial Terms

The project carries a total value of ₹796.80 crore (Rupees Seven Hundred Ninety Six Crores Eighty Lakhs Only), inclusive of all taxes. The contract operates under general contract conditions and falls within the domestic category, being awarded by a domestic entity.

Regulatory Compliance and Disclosures

Rail Vikas Nigam Limited has confirmed that this contract falls within the normal course of business operations. The company has provided comprehensive disclosures as required under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Key regulatory confirmations include:

• No promoter or group company interest in the awarding entity
• The contract does not constitute a related party transaction
• All terms and conditions follow standard commercial practices

Corporate Significance

This contract award reinforces Rail Vikas Nigam Limited's capabilities in large-scale construction projects beyond its traditional railway infrastructure focus. The 34-month execution timeline provides a structured framework for project delivery, while the substantial contract value contributes to the company's order book strength.

The project documentation was signed by Baldev S. Jaryal, Executive Director (Business Development), and the regulatory filing was completed by Kalpana Dubey, Company Secretary & Compliance Officer, ensuring proper corporate governance protocols.

Rail Vikas Nigam Limited has officially received the Letter of Award (LOA) from National Mineral Development Corporation (NMDC) Limited for the construction of residential towers at Iron Ore Deposit-10/11A in Bacheli, Chhattisgarh. The company disclosed this development on February 26, 2026, under Regulation 30 of SEBI (LODR) Regulations, 2015, confirming the formal award of this significant construction contract.

Project Specifications and Financial Details

The construction project involves building residential towers at the Iron Ore Deposit-10/11A site in Bacheli, Chhattisgarh. This project represents RVNL's continued expansion into residential construction sectors beyond traditional railway infrastructure development.

Regulatory Compliance and Disclosure

RVNL has fulfilled its regulatory obligations by disclosing the LOA receipt under SEBI regulations as per Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that this work falls within the normal course of business operations. The project does not involve any related party transactions and maintains arm's length dealing principles. No promoter or group company interests are involved in the awarding entity.

Strategic Business Impact

This contract award demonstrates RVNL's successful diversification strategy beyond railway infrastructure projects. The substantial project value of ₹536.40 crore will provide steady revenue recognition over the 34-month execution period, contributing significantly to the company's business pipeline and financial stability. The project represents a major milestone in RVNL's expansion into the residential construction segment within the mining sector.