RITES bags ₹28-Crore order for high-speed rail corridor survey

7 Mar 2025 , 08:53 AM

RITES Limited announced that it has received a letter of acceptance (LoA) from South Central Railway for conducting the final location survey for high-speed elevated rail corridors between Hyderabad-Bengaluru and Hyderabad-Chennai.

The contract is valued at ₹27.96 Crore (excluding GST). It involves preparing a detailed project report (DPR), final alignment design, survey report on traffic, return on revenue (ROR) calculations, a detailed estimate, and EPC documents with the use of advanced survey techniques such as airborne and terrestrial LiDAR.

The company stated in its filing with the bourses that it is expected to be completed within eight months. It shall execute a formal agreement within the due course.

In the third quarter ended December 2024, the company’s net profit slipped 15% year-on-year to ₹109.40 Crore. Its revenue from operations fell 15.7% against previous year to ₹575.80 Crore. In the base quarter, the company has reported a topline of ₹682.90 Crore.

The company’s EBITDA fell 30.50% on a year-on-year basis to ₹117.40 Crore. The company’s margin narrowed by 440 basis points against the previous year to 24.80%.

Recently in September, the company has also announced that it has emerged as the lowest bidder for a tender floated by the Uttar Pradesh State Bridge Corporation Limited. The contract was valued at ₹60.03 Crore exclusive of GST.

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