Rail Vikas Nigam (RVNL), an arm of the Railways Ministry, is empowered to act as an umbrella special purpose vehicle (SPV) saw revenue return to pre-COVID levels. Rajesh Prasad, Director of Operations of the company, said the profit before tax (PBT) and profit after tax (PAT) during Q3FY21 was almost on par with Q3FY20.

Prasad said the current order book of the company stands at Rs 75,000 crore. He also said that they have formed 4 SPVs to focus on specific projects.

"The present order book of the company is about Rs 75,000 crore and we are executing two kinds of projects. One project which we are executing on behalf of the Ministry of Railways – basically RVNL is the executing arm of the Ministry. Second is the SPVs. We have 4 SPVs which have been formed for specific projects,” he said in an interview to CNBC-TV18.

He added that the company generated Rs 70,000 crore of revenue for Indian Railways and is working on creating 2 more SPVs. "We have generated Rs 70,000 crore of revenues for Indian Railways without any investment by the Ministry. We had an equity of about Rs 800 crore for projects worth Rs 7,500 crore in the 4 SPVs which are in operation and we are working to make 2 more SPVs in time to come,” he said.

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(Edited by : Priyanka Rathi)