neutral
Recently
Railway-led capex cycle underpins medium-term outlook for RVNL
RVNL’s three-year outlook is supported by a strong ₹900 billion order book and sustained railway infrastructure spending, though execution and policy risks remain key factors.
India’s infrastructure push, led by large-scale railway modernisation, is shaping the medium term outlook for . The Navratna PSU operates as a project execution arm of the Ministry of Railways, handling electrification, new lines, doubling, and major bridge works. RVNL’s prospects over the next three years are supported by a robust order book of around ₹900 billion, offering strong revenue visibility. Government initiatives such as full rail electrification, PPP participation, and green infrastructure investments are expected to sustain execution momentum, though outcomes remain subject to policy continuity and project timelines.