RITES shares rises after securing Rs 532 crore order from Northeast Frontier Railway

Shares of RITES Ltd soared 12.6% to their intraday high of Rs 310 on the BSE after announcing that the company has secured a major order for railway electrification work from Northeast Frontier Railway. The order value stands at Rs 531.77 crore.

The original cost of the project was Rs 288.44 crore. “In continuation to our intimation dated June 28, 2021, regarding the major order secured for Railway Electrification work for project -Lumding- Badarpur”, RITES has received revised estimates for Railway Electrification work of LMG-BPB Section of Lumding Division, N.F Railway on November 21, 2024, from Northeast Frontier Railway,” said the company’s filing to the exchanges.

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Rites Limited has secured an impressive portfolio of 91 projects worth Rs. 729 crore during Q2 FY25, spanning diverse sectors and geographies. Most projects have completed tenure between 2025 and 2027, ensuring steady revenue visibility for the coming years. 

The company’s robust business performance has a substantial order book of Rs. 6,581 crore as of September 2024. The diversified portfolio includes exports (Rs. 4,240 crore), consultancy (Rs. 2,542 crore), turnkey projects (Rs. 2,506 crore), REMC Ltd. (Rs. 120 crore), and leasing services (Rs. 173 crore). 

During Q2FY25, Rites Limited secured new projects worth Rs. 729 crore, with consultancy services and Turkey projects leading at Rs. 327 crore each. The company’s competitive edge is evident in its order acquisition strategy, with 63% of orders won through competition, and 37% of orders through nomination, showcasing its strong market position and technical expertise. 

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