RITES Ltd, a government-owned engineering consultancy and project management company, announced that it has been awarded a ₹297.67 crore contract by the Ministry of External Affairs (MEA). The project involves providing implementation services for constructing an Integrated Check Post (ICP).
In a regulatory filing, RITES stated, “We are pleased to announce that the Ministry of External Affairs, Government of India, has entrusted us with Project Implementation Services for the construction of an Integrated Check Post.”
The project timeline is set at 59 months, which includes the defect liability period. The contract’s total value covers construction costs and Project Management Consultancy (PMC) fees, excluding GST. Meanwhile, RITES reported a decline in financial performance for the recent quarter. The company’s net profit dropped by 25% to ₹82.5 crore compared to ₹110.2 crore in the same period last year.
Revenue decreased by 7.1% to ₹541 crore from ₹582.4 crore in the corresponding quarter of the previous year. RITES’ EBITDA for the quarter also saw a 23% year-on-year decline, falling to ₹106.4 crore from ₹138 crore last year. The EBITDA margin contracted to 19.7%, compared to 23.6% in the previous year.
This contract highlights RITES’ ongoing role in implementing key infrastructure projects for the government, even as the company navigates a challenging financial period. RITES Ltd (Rail India Technical and Economic Service) is a leading engineering consultancy organization under the Ministry of Railways, Government of India.
Established in 1974, RITES specializes in transport infrastructure and related technologies, offering services in sectors such as railways, highways, ports, airports, and urban transport. With a strong global presence across more than 55 countries, the company is known for its expertise in project management, design, consultancy, and turnkey solutions.
RITES is also actively contributing to India’s growth by supporting initiatives like Make in India and Atmanirbhar Bharat through its indigenous manufacturing of rolling stock and export-oriented services. Recognized for its commitment to quality and sustainability, RITES continues to play a pivotal role in shaping modern transportation infrastructure.
