Rs 8,877 crore order book: Construction company received revised project cost from Rs 148.25 crore to Rs 220.65 crore from IIM Raipur

RITES Limited announced a significant revision in the project cost for the construction of various facilities at the Indian Institute of Management (IIM), Raipur. Building on their December 5, 2024 intimation, RITES confirmed that the estimated cost for the "Construction of Academic Block, Hostel Cluster (4 Blocks), 1st floor of Students Dining Block, and Auditorium Block, along with associated services under EPC mode-III of contract under phase-II," has been revised from Rs 148.25 crore to Rs 220.65 crore, on a Cost plus basis, excluding GST but including PMC fee. This domestic contract involves the construction of key academic and residential infrastructure, with an execution timeline of 23 months from the agreement date.

About the Company

Established in 1974, RITES Limited is a leading public sector player in India's transport consultancy and engineering, offering diversified services from locomotive and train manufacturing to consultancy, exports, leasing and turnkey projects across railways, metros, airports, ports, highways, ropeways and urban infrastructure. As India's export arm for rolling stock (except Thailand, Malaysia, and Indonesia), it boasts expertise in various gauges and caters to diverse transportation needs.

The stock has a 52-week high of Rs 385.50 per share & a 52-week low of Rs 192.30 per share and has been maintaining a healthy dividend pay-out of 98 per cent. The company has a market cap of over Rs 13,000 crore and as of March 31, 2025, its order book stands at Rs 8,877 crore. The stock has an ROE of 15 per cent and an ROCE of 21 per cent. The stock is up by 45 per cent from its 52-week low of Rs 192.30 per share.

Disclaimer: The article is for informational purposes only and not investment advice.