RITES Secures ₹78.65 Crore NTPC Contract for Leasing Diesel Locomotives

22 Sep 2025 , 12:18 PM

RITES Limited, the transport infrastructure consultancy and engineering firm, has signed a rate contract with NTPC Limited for leasing diesel locomotives to the state-run power producer’s plants across India.

Contract Value and Tenure

The agreement, which runs from September 20, 2025, to September 19, 2027, has an indicative value of ₹78.65 crore (excluding GST). The final contract value will depend on purchase orders placed by individual NTPC stations during the two-year period.

Under the deal, NTPC can issue multiple purchase orders specifying requirements such as the number of locomotives, timelines, and payment details, ensuring operational flexibility.

Domestic Order Classification

RITES confirmed that the deal is a domestic contract and does not involve any international arrangement or related-party transactions. The company also clarified that promoters and promoter group entities hold no interest in NTPC regarding this order.

Boost to RITES’s Business Portfolio

The contract is expected to provide steady revenue visibility over its tenure while bolstering RITES’s footprint in the power and transport logistics segment.

As of June 30, 2025, RITES reported an order book of ₹8,790 crore, led by turnkey projects (₹4,209 crore) and consultancy services (₹2,903 crore). Leasing accounted for ₹170 crore, representing 2% of the order mix. During Q1 FY26, the company secured new projects worth ₹451 crore, including ₹35 crore from leasing contracts, highlighting growing traction in this vertical.

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