RITES Bags ₹28.5 Crore Urban Infra Contract in Gujarat

25 Jun 2025 , 03:57 PM

Engineering consultancy firm RITES Ltd., a public sector enterprise, has received a fresh mandate from the Gujarat Urban Development Company Limited (GUDC). The project, valued at ₹28.5 crore (excluding GST), involves third-party inspection services across critical urban infrastructure in the state.

The Letter of Intent (LoI) was awarded for overseeing water supply systems (WSS), underground drainage (UGD), and sewage treatment plant (STP) initiatives. These works fall under the ambit of two key government schemes AMRUT 2.0 and SJMMSVY being rolled out across various urban local bodies in Gujarat.

As per the contract terms, RITES will operate as the Third Party Inspection (TPI) agency over a span of 60 months, providing independent quality checks for public utility projects implemented at the municipal level.

In a separate announcement, RITES shared its financial results for the quarter ended March 2025. The company posted a 3.4% year-on-year rise in net profit, coming in at ₹141 crore. However, total revenue declined 4.3% from the previous fiscal, settling at ₹615 crore for the quarter.

Operating performance showed resilience, with EBITDA rising 5.4% year-on-year to ₹185.5 crore. Margin expansion was notable, as the EBITDA margin improved by 564 basis points, reaching 30%, suggesting better cost control and project execution efficiency.

The board also recommended a final dividend of ₹2.65 per share for FY25. The proposal is subject to shareholder approval at the upcoming annual general meeting (AGM). The company is yet to announce the record date for dividend eligibility.

For feedback and suggestions, write to us at [e-mail]