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Miscellaneous, Small Cap

RITES has received amendment to the Letter of Award  dated 31 March 2021 for Detailed Engineering & Project Management Consultancy (PMC) for the work of Construction of Railway Siding at Sankerjang in Phase-I for Utkal-D Coal Mines of NALCO? on Deposit Mode from National Aluminium Company (NALCO), on cost plus turnkey basis. The contract value has been enhanced from 79.73 crore to 118.89 crore.

Rites has received Letter of Acceptance from Research Designs and Standards Organisation (RDSO), Lucknow for comprehensive maintenance contract of dedicated test track between Gudha and Thathana Mithri stations of Jodhpur division of NWR. The contract is valued at Rs 105.69 crore.

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The contract involves maintenance of a dedicated test track between Gudha and Thathana Mithri stations in the Jodhpur division of North Western Railway.

The project is to be executed over a period of 60 months from the date of issuance of the letter of acceptance (LoA).

The order has been awarded by a domestic entity and is classified as a domestic contract.

The transaction is between a government organization and a government-owned company, with no promoter or group company interest involved.

It is also clarified that the contract does not fall under related party transactions.

RITES is a Navratna Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company has an experience spanning 50 years and has undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region. As of September, the Government of India held 72.20% in the company.

The company reported a 5.2% rise in consolidated net profit to Rs 115.10 crore on a 5.7% increase in revenue from operations to Rs 608.59 crore in Q3 FY26 as compared with Q3 FY25.

Shares of RITES rose 0.55% to end at Rs 191.65 on the BSE.

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The scope of work includes consultancy services as Project Management Consultant (PMC) for the construction of the bridge along with approach roads connecting Kachuberia on Sagar Island with Kakdwip in the South 24 Parganas district.

Under the contract, RITES will undertake design and construction supervision as the Authority Engineer for the project. The order has been awarded by a domestic entity and is scheduled to be executed over a period of 48 months.

The transaction is between the Government of West Bengal and the government-owned company. The company said the promoter, promoter group, or group companies do not have any interest in the awarding entity.

Separately, RITES said that it has received revised estimates from South Western Railway for railway electrification work of the Mysuru?Hassan?Mangaluru project, including the Hassan?Arsikere section.

The work has been awarded on a cost-plus turnkey basis and pertains to the electrification of the Mysuru?Hassan?Mangaluru line, including the Hassan?Arsikere section. The revised project cost for the order stands at Rs 729.28 crore, excluding GST, including RITES fees.

RITES is a Navratna Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company has an experience spanning 50 years and has undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region. As of September, the Government of India held 72.20% in the company.

The company reported a 5.2% rise in consolidated net profit to Rs 115.10 crore on a 5.7% increase in revenue from operations to Rs 608.59 crore in Q3 FY26 as compared with Q3 FY25.

Shares of RITES fell 3.56% to Rs 199 on the BSE.

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