RITES Limited — New Orders, 17-12-2024: Bagging/Receiving of orders/contracts

RITES has secured a major consultancy contract with the Meerut Development Authority for the preparation of a Detailed Project Report (DPR) and construction supervision of infrastructure works. This contract spans five years, with a total value of ₹122.60 Crores, excluding GST. The engagement is entirely domestic, with the authority being a local entity. Notably, there are no conflicts of interest with the promoter or related party transactions, indicating a transparent arrangement. This significant order enhances RITES’ portfolio and supports its strategic direction, presenting a positive outlook for future growth and revenue generation.