RITES bags Rs 123-cr order from Meerut Development Authority

RITES, an engineering consultancy company, has secured an order worth Rs 122.60 crore from the Meerut Development Authority.

The orders entail consultancy services for the preparation of a detailed project report (DPR) and construction supervision of all infrastructure works of the Meerut Development Authority for the next five years.

RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held a 72.20% stake in the company.

The companys consolidated net profit declined 27.84% to Rs 72.98 crore while revenue from operations fell 7.12% to Rs 540.86 crore in Q2 FY25 over Q2 FY24.

Shares of RITES rose 0.32% to currently trade at Rs 301 on the BSE.

Powered by Capital Market - Live News