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Business Standard
14-07-2025
- Business
- Business Standard
RITES rises after bagging government construction contract in Karnataka
RITES added 1.04% to Rs 281.25 after the company announced that it has received an order for undertaking the construction and renovation of Government First Grade College at various locations in Karnataka under the PM USHA Scheme. The contract has been awarded by the Department of Collegiate and Technical Education (DCTE), Office of the Commissioner, Unnatha Shikshna Soudha, Seshadri Road, Bengaluru. The aforementioned project was earlier considered on project management consultancy (PMC) basis. It now has been converted into turnkey contract (cost of project plus RITES fees). The project cost, including RITES fees, is Rs 46.82 crore. The project has to be executed within a period of 36 months. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2025, the Government of India held a 72.20% stake in the company. The company's consolidated net profit rose 5.24% to Rs 132.71 crore despite a 4.32% decline in revenue to Rs 615.43 crore in Q4 FY25 as compared with Q4 FY24.
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Business Standard
14-07-2025
- Business
- Business Standard
RITES share price rises 2% on securing ₹47-crore deal in Karnataka; details
RITES share price: RITES share price was in focus on Monday, July 14, 2025, with the stock rising as much as 1.95 per cent to hit an intraday high of ₹283.80 per share. Around 9:30 AM, RITES shares continued to trade higher, up 0.7 per cent at ₹280.25. In comparison, BSE Sensex struggled, trading 0.41 per cent at 82,162.79 levels. Why did RITES share price rise in trade today? RITES share price rose after the company said that it has bagged an order for construction and renovations of Government First Grade college at various locations in Karnataka under PM USHA Scheme. In an exchange filing, RITES said, 'We are pleased to inform you that RITES has received order for 'Construction and renovations of Government First Grade college at various location in Karnataka under PM USHA Scheme' from Department of Collegiate and Technical Education (DCTE) Office of the Commissioner, Unnatha Shikshna Soudha, Seshadri Road Bengaluru which was earlier considered on Project Management Consultancy (PMC) basis is now converted into turnkey contract (cost of project plus RITES fees).' The Project cost including RITES fees is ₹46.82 crore, excluding GST. Meanwhile, the project is expected to be completed in 36 months from the date of agreement. At the beginning of the month, RITES announced that it has bagged multiple orders. Firstly, the RITES-Aryan JV Joint Venture (JV) received the LOA from South Western Railway for the redevelopment including civil works, signal and telecommunication works and electrical general services at Tumakuru Station. RITES share in the project was ₹37.81 crore excluding GST. The project, meanwhile, was expected to be executed in 540 days from the appointed date as per agreement. The second order was from African Rail Company worth $3.6 million for the supply and commissioning of the overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives fitted with new Cape Gauge Bogies, Traction Motors, Control System, Air braked, etc. overhauled at nominated facility and warranty support with the deputation of RITES technical team. This project, however, was expected to be wrapped up in 9 months. Track Stock Market LIVE Updates About RITES RITES Limited 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 undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region. RITES share's 52-week high is ₹396.80 while its 52-week low is ₹192.30 per share. The market capitalisation of RITES is ₹13,473.73 crore, according to BSE. The company falls under the BSE 500 category.
Business Standard
12-07-2025
- Business
- Business Standard
RITES bags turnkey contract worth Rs 47 crore in Karnataka
RITES said that it has received an order for undertaking the construction and renovation of Government First Grade College at various locations in Karnataka under the PM USHA Scheme. The contract has been awarded by the Department of Collegiate and Technical Education (DCTE), Office of the Commissioner, Unnatha Shikshna Soudha, Seshadri Road, Bengaluru. The aforementioned project was earlier considered on project management consultancy (PMC) basis. It now has been converted into turnkey contract (cost of project plus RITES fees). The project cost, including RITES fees, is Rs 46.82 crore. The project has to be executed within a period of 36 months. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2025, the Government of India held a 72.20% stake in the company. The company's consolidated net profit rose 5.24% to Rs 132.71 crore despite a 4.32% decline in revenue to Rs 615.43 crore in Q4 FY25 as compared with Q4 FY24.
