1. Home
  2. Infrastructure Urban
  3. ECONOMY & POLICY
  4. RITES CMD Rahul Mithal Discusses Profit Impact of Inspection Changes
RITES CMD Rahul Mithal Discusses Profit Impact of Inspection Changes
ECONOMY & POLICY

RITES CMD Rahul Mithal Discusses Profit Impact of Inspection Changes

02 Aug 2024 2 Min Read CW Team
Rahul Mithal, Chairman and Managing Director (CMD) of RITES Limited, has elaborated on how recent changes in the company's inspection business are influencing its profitability. RITES, a prominent player in the transport infrastructure sector, has been undergoing significant shifts in its operational strategies to enhance efficiency and financial performance.

Mithal noted that the transformation within the inspection segment is pivotal to optimising operational costs and improving service quality. The company has been adopting advanced technologies and streamlined processes to bolster its inspection capabilities, which has had a substantial impact on its profit margins.

The changes involve integrating modern tools and techniques into the inspection processes, which help in reducing turnaround times and increasing accuracy. These improvements are expected to lead to better project outcomes and increased client satisfaction, ultimately contributing to the company's bottom line.

Mithal also emphasised that the evolving business environment and the competitive landscape necessitate these adjustments. By staying ahead with innovative practices, RITES aims to maintain its competitive edge and ensure sustainable growth.

The focus on refining the inspection business is part of RITES' broader strategy to enhance overall operational efficiency and profitability. As the company continues to adapt to industry changes and technological advancements, it is well-positioned to achieve its financial and strategic objectives, reinforcing its role as a leader in the infrastructure sector.

Rahul Mithal, Chairman and Managing Director (CMD) of RITES Limited, has elaborated on how recent changes in the company's inspection business are influencing its profitability. RITES, a prominent player in the transport infrastructure sector, has been undergoing significant shifts in its operational strategies to enhance efficiency and financial performance. Mithal noted that the transformation within the inspection segment is pivotal to optimising operational costs and improving service quality. The company has been adopting advanced technologies and streamlined processes to bolster its inspection capabilities, which has had a substantial impact on its profit margins. The changes involve integrating modern tools and techniques into the inspection processes, which help in reducing turnaround times and increasing accuracy. These improvements are expected to lead to better project outcomes and increased client satisfaction, ultimately contributing to the company's bottom line. Mithal also emphasised that the evolving business environment and the competitive landscape necessitate these adjustments. By staying ahead with innovative practices, RITES aims to maintain its competitive edge and ensure sustainable growth. The focus on refining the inspection business is part of RITES' broader strategy to enhance overall operational efficiency and profitability. As the company continues to adapt to industry changes and technological advancements, it is well-positioned to achieve its financial and strategic objectives, reinforcing its role as a leader in the infrastructure sector.

Next Story
Infrastructure Energy
31 Jan 2025

Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey

The Economic Survey 2024-25, presented by Union Finance Minister Nirmala Sitharaman, indicates substantial improvement in India’s labour market, driven by strong post-pandemic recovery and formalisation of the workforce. Key findings include a significant drop in the unemployment rate from 6 per cent in 2017-18 to 3.2 per cent in 2023-24. Additionally, there has been notable growth in female labour force participation, which increased from 23.3 per cent in 2017-18 to 41.7 per cent in 2023-24.Other highlights include:Over 30.51 crore unorganised workers registered on the eShram portal, suppor..

Read More
Next Story
Real Estate
31 Jan 2025

Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC

Aditya Birla Housing Finance Ltd. (ABHFL), a subsidiary of Aditya Birla Capital, has raised Rs 8.3 billion through non-convertible debentures (NCDs) from the International Finance Corporation (IFC). The company stated that the funds will be used to provide housing loans to low- and middle-income groups (LIG and MIG), with a special focus on promoting homeownership among women. Additionally, a portion of the investment will support MSMEs, particularly women-led enterprises, to drive economic growth. The initiative aims to strengthen financial inclusion and uplift underserved communities in the ..

Read More
Next Story
Infrastructure Energy
31 Jan 2025

Bihar to Bid Out 2,400 MW Power Plant by March

The Bihar government plans to auction the proposed 2,400 MW coal-based power plant at Pirpainti by March 2025. Part of the state's FY25 budget initiatives, the project is valued at Rs 214 billion, covering multiple power sector developments. Coal for the plant is expected to come from Eastern Coalfields, with fuel and location already determined to streamline the bidding process. Discussions are underway to finalise coal supply under the SHAKTI scheme, with a resolution expected by February. The Central government has also pledged support for fast-tracking environmental clearances to facilit..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey
POWER & RENEWABLE ENERGY
31 Jan 2025

Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey

Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC
Real Estate
31 Jan 2025

Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC

Bihar to Bid Out 2,400 MW Power Plant by March
COAL & MINING
31 Jan 2025

Bihar to Bid Out 2,400 MW Power Plant by March

Afcons Infra Shares Rise After Rs 12.83 Billion Gujarat Contract Win
ECONOMY & POLICY
31 Jan 2025

Afcons Infra Shares Rise After Rs 12.83 Billion Gujarat Contract Win

We are shaping the next era of vertical mobility
ECONOMY & POLICY
31 Jan 2025

We are shaping the next era of vertical mobility

Brookfield REIT Q3 NOI Rises 11% to Rs 5.03 Bn
Real Estate
31 Jan 2025

Brookfield REIT Q3 NOI Rises 11% to Rs 5.03 Bn

Gurugram’s Key Corridor Set for Expansion
RAILWAYS & METRO RAIL
31 Jan 2025

Gurugram’s Key Corridor Set for Expansion

Mumbai-Ahmedabad Bullet Train: Major Progress in Maharashtra
RAILWAYS & METRO RAIL
31 Jan 2025

Mumbai-Ahmedabad Bullet Train: Major Progress in Maharashtra

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000