RITES secures ₹373 Crore project from NIMHANS

4 Nov 2025 , 12:46 PM

RITES Ltd announced that it has secured a Letter of Award from the National Institute of Mental Health & Neuro Sciences (NIMHANS). The project underlines project management consultancy (PMC) services related to the construction of a new Outpatient Department (OPD) building at the NIMHANS campus situated in Bengaluru.

The company informed in its filing that the project will be executed on a turnkey basis. The order has an aggregate value of ₹372.68 Crore, excluding GST and inclusive of the PMC fee.

At around 12.33 PM, RITES was trading 0.82% higher at ₹249.91, against the previous close of ₹247.88 on NSE. The counter touched an intraday high and low of ₹255, and ₹249.67, respectively.

The company expects to complete the project within a period of 36 months. RITES has received this order from a domestic entity. It also added that neither the promoter or promoter group has any interest in NIMHANS.

RITES Limited has entered into a Memorandum of Understanding (MoU) with the Shipping Corporation of India to explore collaboration in the multi-modal transport solutions and maritime logistics.

The company said in its filing with the exchanges that the companies will collaborate and ensure timely and efficient movement of RITES’ cargo across global destinations. With this collaboration, the company aims to design innovative, cost-effective, resilient supply chain and customised logistics models.

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