https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

RITES Ltd Shares Surge 4% After Securing Rs.298 Crore Order from Ministry of External Affairs

As of September 30, 2024, RITES Ltd’s order book stood at a substantial Rs.6,581 crore. Of this, Rs.2,542 crore (38.6%) comes from consultancy, Rs.2,506 crore (38%) from turnkey projects, Rs.1,240 crore (18.8%) from exports, and Rs.173 crore (2.6%) from REMC Ltd, with the remaining Rs.120 crore (1.8%) from lease agreements.
Indian Masterminds Stories

RITES Ltd, a renowned Navratna public sector enterprise, saw its shares rise by 4% on Monday, following the announcement of a significant Rs.298 crore order secured from the Ministry of External Affairs. Specializing in transport consultancy and engineering services, RITES Ltd’s share price reached an intra-day high of Rs.308.75, reflecting a 4.2% increase from its previous closing of Rs.296.45. However, the stock later adjusted and was trading at Rs.302.90 per share.

The order, valued at Rs.297.67 crore, involves providing Project Implementation Services for the construction of an Integrated Check Post (ICP). This contract encompasses both construction costs and the Project Management Consultancy (PMC) fee, excluding GST. The project is expected to be completed within a timeline of 59 months, including the Defect Liability Period. The awarded contract, granted by a domestic entity, highlights RITES Ltd’s ongoing role in facilitating major infrastructure projects across India.

As of September 30, 2024, RITES Ltd’s order book stood at a substantial Rs.6,581 crore. Of this, Rs.2,542 crore (38.6%) comes from consultancy, Rs.2,506 crore (38%) from turnkey projects, Rs.1,240 crore (18.8%) from exports, and Rs.173 crore (2.6%) from REMC Ltd, with the remaining Rs.120 crore (1.8%) from lease agreements. This diverse order book solidifies RITES Ltd’s position as a major player in India’s transport infrastructure sector.

In recent developments, RITES Ltd has made significant strides with the launch of VISTAR, an AI-powered solution designed for advanced rail inspection. The company has also signed Memorandums of Understanding (MoUs) with Etihad Rail, NBCC, HUDCO, and NHAI. These partnerships aim to enhance RITES Ltd’s capabilities in providing comprehensive consultancy and project management services across various sectors, further boosting its growth prospects.

Despite the promising developments, RITES Ltd reported a decline in financial performance for Q2 FY25. The company’s consolidated revenue fell by 7%, reaching Rs.541 crore compared to Rs.582 crore in Q2 FY24. Additionally, the company’s net profit saw a 26% drop, falling to Rs.82 crore from Rs.110 crore in the previous year’s same quarter.

RITES Ltd, under the Ministry of Railways, is a key public sector enterprise in India, playing a vital role in the country’s transport infrastructure development. As a Navratna company, it continues to provide a wide range of consultancy and engineering services, focusing on transportation and infrastructure projects. The recent order from the Ministry of External Affairs further strengthens RITES Ltd’s position in the sector, reinforcing its track record of securing high-value projects and contributing to the nation’s infrastructure growth.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
BEL Bharat Electronics Limited
Bharat Electronics Limited Secures Rs 732 Crore in New Defence Orders, Strengthening India's Aatmanirbhar Bharat Vision
Workshop_on_AI
NTPC Northern Region Hosts Workshop on Artificial Intelligence for Employees and Families in Lucknow
BEML_and_DCIL_
BEML and DCIL Partner for Rs 350 Crore MoUs to Strengthen India’s Maritime and Dredging Capabilities
Chhatrapati Shivaji Maharaj Museum Agra
CM Yogi Reviews Progress of Chhatrapati Shivaji Maharaj Museum, Aims for Grand Completion by January 2026
Ayodhya Uttar Pradesh Diwali
UP: CM Yogi Evaluates Grand Preparations for Dev Deepawali 2025 in Varanasi, Emphasizes Global Cultural Significance
Cochin_Shipyard_signed_MoU_
Cochin Shipyard Signs MoU to Develop World-Class Maritime Workforce with Global Industry Leaders
CANSSEA
Nagaland Govt Employees Protest Non-SCS IAS Induction, Demand Meritocracy and Transparency in Recruitment
CM Yogi Adityanath
UP: Yogi Adityanath Targets Mafia Raj in Bihar, Promises Development and Security Ahead of Elections
ADVERTISEMENT
ADVERTISEMENT
Videos
Former IAS Anil Swarup
Former IAS Anil Swarup Reveals His Secrets of Success
IAS Gokul S
Meet IAS Gokul S — The Officer Who Turned Disability into Determination | Video Interview 
WhatsApp Image 2025-10-23 at 10.40
Everybody Needs To Know What Is Transpiring Behind Closed Doors Of Courts
ADVERTISEMENT
UPSC Stories
IAS Gokul S
Meet IAS Gokul S — The Officer Who Turned Disability into Determination | Video Interview 
Visually impaired IAS officer Gokul S turned his challenges into change, empowering hundreds through...
Parmeshwar Chaudhary RAS
From Taunts to Triumph: How Farmer’s Son Parmeshwar Chaudhary Rose from Lab Assistant to SDM, Securing Rank 3 in RAS 2023
Parmeshwar, once taunted over his SI selection, has scripted a stunning success—securing Rank 3 in RAS...
IAS Rupal Rana UPSC
How Rupal Rana Cracked UPSC CSE 2023 with AIR 26 After Four Attempts
UPSC Topper Rupal Rana secured AIR 26 in 2023 after four attempts. Learn her preparation strategy, booklist,...
Social Media
Tenzin Yangki IPS Arunachal
Historic First: Who Is Tenzin Yangki, Arunachal Pradesh’s First Woman to Join IPS? Anand Mahindra Hails Her
She secured an impressive 545th rank in the prestigious UPSC Civil Services Examination - 2022.
IFS Parveen Kaswan
Heartbreak by the River: 15-Day-Old Elephant Calf Rejected by Mother, Rescued by IFS Parveen Kaswan and His Team
Jaldapra, West Bengal: In a moving incident that tugs at the heart, a 15-day-old elephant calf was rescued...
Ashwini Bhide IAS and Anand Mahindra
Who Is IAS Ashwini Bhide, Hailed as a Role Model for Mumbai Metro Transformation by Anand Mahindra?
From heritage to high-tech: Bhide’s leadership in Metro Line 3 earns public praise and admiration
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
BEL Bharat Electronics Limited
Bharat Electronics Limited Secures Rs 732 Crore in New Defence Orders, Strengthening India's Aatmanirbhar Bharat Vision
Workshop_on_AI
NTPC Northern Region Hosts Workshop on Artificial Intelligence for Employees and Families in Lucknow
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Former IAS Anil Swarup
IAS Gokul S
WhatsApp Image 2025-10-23 at 10.40
ADVERTISEMENT
ADVERTISEMENT