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Rites order book up by 27.5% in FY 2019

Capital Market 

Rites has continued its business growth along with the focus on new business development. Rites order book has substantially improved from Rs. 4818 crore as on 31 March 2018 to Rs 6142 crore at the end of the FY19 (accounts for the FY19 are under audit). Company has secured more than 300 projects/contracts including extension in scope of projects during FY19.

Recently, RITES secured the work for providing Project Management Consultancy to Indian Railways Station Development Corporation at a fee of Rs 81.2 crore. RITES also secured number of orders above Rs 10 crore which aggregate to Rs 137 crore in consultancy and leasing segment in Q4 FY19.

Total order book of consultancy and leasing segment as on 31 March 2019 stands at Rs 2320 crore and Rs 152 crore respectively.

RITES has secured a turnkey order for modernization of workshop from Northern Railway of Rs 53 crore. A consultancy project of of has been converted to turnkey valuing at Rs 569 crore. A turnkey project received earlier from Indian Railways saw a reduction in scope of work of Rs 294 crore. Turnkey order book is at Rs 2584 crore as on 31 March 2019, as compared to Rs 1408 crore as on 31 March 2018.

After successful completion of trial runs of its first Locomotive and DMU set in Sri Lanka, RITES has exported one more DMU set and locomotive to them in Q4 FY19. Export order book as on 31 March 2019 stands at Rs 1086 crore.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 12 2019. 14:06 IST