On September 27, RITES Ltd, a state-owned enterprise, announced that it has secured a Letter of Award (LOA) to provide railway operation and maintenance services at Dhamra Port, which is managed by Adani Ports and SEZ Ltd (APSEZ).
The contract is valued at around ₹100 crore, excluding GST, and is scheduled to be implemented over a five-year period starting from November 1, 2024. In addition to this achievement, RITES Ltd recently led a consortium that won a tender from Delhi Metro Rail Corporation Ltd, with their bid of ₹87.58 crore being the lowest.
According to a stock exchange filing, “RITES Consortium emerges as the lowest bidder (L-1) in the tender floated by Delhi Metro Rail Corporation Limited for Retrofit Work in RS-1 Trains of DMRC.” RITES’ share in this tender amounts to 49%, approximately ₹42.91 crore, which includes goods and services tax. The consortium is required to complete the project within three years from the issuance of the letter of award.
Recently, the company announced a 1:1 bonus share allotment and declared a final dividend of ₹5 per share for eligible shareholders. The company’s stock has appreciated over 45% this year. RITES Ltd, a public sector enterprise under the Ministry of Railways, is a leading consultancy and engineering firm in India.
Established in 1974, the company specializes in transport infrastructure, offering services in railways, highways, airports, ports, and urban transport. The company is known for its expertise in project management, feasibility studies, and construction supervision, both in India and internationally.
In addition to consultancy, RITES also provides export services for railway equipment and rolling stock. With a strong focus on quality, innovation, and sustainable development, RITES has played a key role in shaping India’s transport infrastructure and continues to expand its global footprint.
