RVNL targets growth with robust order book exceeding INR90,000 crores

Rail Vikas Nigam Limited (RVNL) reported a total order book in excess of INR90,000 crores as of September 30, 2025. This comprised INR43,000 crores from legacy railway projects and INR46,000 crores from competitively bid projects across various sectors. The company's Q2 FY'26 order inflow was INR852 crores, contributing to a first-half total of INR2,000 crores. For the full FY'26, RVNL anticipates an order inflow between INR8,000 crores and INR10,000 crores, aiming to maintain a revenue guidance of INR21,000 crores to INR22,000 crores.

The order book composition includes 33% from railway projects, 22% from the metro sector, 10% from the road sector, 12% from the BharatNet project, and 10% from Vande Bharat manufacturing. RVNL also highlighted an international order book of approximately INR3,200 crores, with plans to increase traction from these projects.

The company aims to maintain EBITDA margins in the 4% to 5% range. RVNL is also exploring new business opportunities in sunrise sectors like solar with battery storage systems and operation and maintenance of rolling stock.