RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, saw its shares surge by 4.18% to Rs 221.70 after announcing a major contract win. The company received a Letter of Acceptance (LoA) valued at approximately $3.4 million from South Central Railway for conducting high-speed rail corridor surveys.

The project involves a comprehensive final location survey aimed at preparing the Detailed Project Report (DPR), designing the final alignment, generating traffic survey reports, calculating the rate of return (ROR), estimating detailed costs, and drafting EPC documents. These tasks will cover the High-Speed Elevated Rail Corridors between Hyderabad-Bengaluru and Hyderabad-Chennai, utilizing advanced survey techniques like Airborne and Terrestrial LIDAR.

The company is expected to complete the survey within eight months, as stated in the official announcement made on Thursday, 06 March 2025, after market hours.

RITES is recognized as a key player in India's transport consultancy and engineering sector, offering diversified services with a broad geographical reach. As of 31st December 2024, the Government of India held a 72.20% stake in the company.

Despite the profit decline, RITES continues to secure new projects, demonstrating its robust position in the infrastructure sector.

Image Source: Railwaypro