Rs 26,000 Crore Order Book: Engineering Solution Provider Bags Rs 2,481 Crore Mumbai Metro Line 5 Contract from MMRDA

Titagarh Rail Systems Limited (TRSL), a leading rolling stock manufacturer in India, announced on October 31, 2025, that it has received a contract worth approximately Rs 2,481 crore plus GST from the Mumbai Metropolitan Region Development Authority (MMRDA) for the Mumbai Metro Line 5 project. The project, titled “Momentum Continues: Titagarh Bags Another Mumbai Metro Contract for Manufacturing of Line 5 Metro Coaches,” further expands the company’s presence in India’s urban transport segment.

The scope of the project includes the design, manufacture, supply, installation, integration, testing, and commissioning of key systems such as rolling stock, communication-based signalling and train control, telecommunication, platform screen door systems, and depot machinery and plant. TRSL will deliver 132 metro coaches, provide signalling for 24.9 km, and install telecom systems across 16 stations. The contract also covers five years of comprehensive maintenance.

The project includes both Phase 1 (Kapur Bawdi–Kasheli–Dhamankar Naka) and Phase 2 (Dhamankar Naka–Bhiwandi–Kalyan APMC) of Mumbai Metro Line 5. This is TRSL’s second major Mumbai Metro order, following its earlier assignment for Line 6, strengthening its role in India’s growing metro infrastructure network.

The trainsets will be “Make-in-India” driverless metro trains, built with stainless-steel car bodies for durability and energy efficiency. The design will focus on ergonomic features and passenger safety. Manufacturing will take place at TRSL’s Passenger Rail Systems facility in Uttarpara, Kolkata, which is also engaged in producing rolling stock for Ahmedabad, Surat, and Bangalore metros, along with Sleeper Vande Bharat trains.

About the Company

Titagarh Rail Systems Limited (TRSL) is a leading provider of comprehensive mobility solutions with manufacturing facilities in India and Italy, specialising in the design and production of a wide range of rolling stock, including trains, coaches, and wagons. In a strategic move to optimise its shipbuilding business, TRSL's Board of Directors has approved the transfer of its shipbuilding and maritime systems division into a new, wholly-owned subsidiary named Titagarh Naval Systems. This new entity will manage a state-of-the-art shipyard at Falta, south of Kolkata, with an Order Book exceeding Rs 575 crore. The advanced facility is designed to handle ships up to 180 meters in length, with an annual capacity of 12-16 vessels. This restructuring will allow TRSL to focus on its core Railway systems while enabling Titagarh Naval Systems to aggressively pursue growth and secure new contracts for specialised vessels, supporting key Government of India maritime initiatives.

According to the Quarterly Results, the net sales decreased by 25 per cent to Rs 679 crore and net profit decreased by 54 per cent to Rs 31 crore in Q1FY26 compared to Q1FY25. In FY25, the company reported net sales of Rs 3,867.75 crore and net profit of Rs 276.39 crore.

The company has a market cap of over Rs 11,900 crore and the order book stands at Rs 26,000 crore as of June 30, 2025, excluding GST and including its share in Joint venture. The stock gave multibagger returns of 520 per cent in just 3 years and a whopping 2,000 per cent returns in 5 years.

Disclaimer: This article is for informational purposes only and is not intended as investment advice.