Rites bags significant contract worth Rs 467 crore from NLC India

Rites said that it has secured a major order for providing comprehensive engineering and project management services from NLC India worth Rs 466.55 crore.

As per the terms of the contract, the company would prepare feasibility study report (FSR), detailed project report (DPR), undertake detail engineering (DE), and provide project management on a turnkey depositary mode on a cost-plus-fees basis.

The above services pertain to the construction and commissioning of railway siding at Machhakata coal Mine and adjacent New Patrapara South coal Mine.

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 31st December 2024, the Government of India held a 72.20% stake in the company.

 

The companys consolidated net profit declined 16.7% to Rs 100.09 crore in Q3 FY25 as compared with Rs 120.14 crore in Q3 FY24. Net sales declined 15.7% to Rs 575.76 crore during the quarter.

The scrip fell 1.84% to currently trade at Rs 202.95 on the BSE.

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