Rs 8,877 crore order book: Construction company bags order worth Rs 46.82 crore from Department of Collegiate and Technical Education

Rites Limited has secured a significant domestic turnkey contract from the Department of Collegiate and Technical Education (DCTE), Karnataka, for the "Construction and renovations of Government First Grade college at various locations in Karnataka under PM USHA Scheme." This project, initially considered on a Project Management Consultancy (PMC) basis, has been converted into a comprehensive turnkey agreement, encompassing the project cost plus RITES' fees, totalling Rs 46.82 crore (excluding GST). Rites Limited is slated to complete the construction and renovation work within 36 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 396.50 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 46.4 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.