RITES consortium bags contract for Delhi Metro Project worth Rs 87.58 crore
Of the total tender value, the share of RITES is 49%, or approximately Rs 42.91 crore, including goods and services tax.
A RITES Ltd-led consortium has emerged as the lowest bidder in a tender floated by Delhi Metro Rail Corp Ltd and valued at Rs 87.58 crore.
"RITES Consortium emerges as the lowest bidder (L-1) in the tender floated by Delhi Metro Rail Corporation Limited for “Retrofit Work in RS-1 Trains of DMRC," the filing said.
Of the total tender value, the share of RITES is 49%, or approximately Rs 42.91 crore, including goods and services tax.
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The consortium is required to execute the order within three years from the date of issuance of letter of award, RITES said in its filing.
The state-owned undertaking recently announced a 1:1 bonus share allotment and a final dividend of Rs 5 per share for eligible shareholders. The PSU's stock price has gained over 45% so far this year.
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