Rites secures Rs 330 million order for rail signalling project
RAILWAYS & METRO RAIL

Rites secures Rs 330 million order for rail signalling project

Rites declared that it had secured additional scope under an existing order for the replacement of mechanical signalling from Northern Railway.

The project would entail replacing mechanical signalling at 11 stations and upgrading signalling gears based on age and condition with EI at Delhi Kisanganj Station of Delhi Division of Northern Railway.

The company revealed that the additional scope had been secured under the existing order for Rs 330.25 million, inclusive of project management consultancy, on a turnkey basis.

Rites, a Miniratna (Category-I) Schedule 'A' public sector enterprise, asserted its position as a leading player in the transport consultancy and engineering sector in India, boasting diversified services and geographical reach. It was noted that as of 31 December 2023, the Government of India held a 72.20% stake in the company.

It was reported that the company's consolidated net profit had experienced a 14.24% year-on-year decline, reaching Rs 1.2 billion in Q3 FY24. Furthermore, revenue from operations saw a marginal increase to Rs 6.82 billion in the quarter ending 31 December 2023, compared to Rs 6.77 billion reported in Q3 FY23.

The trading day concluded with shares of Rites settling 0.23% higher at Rs 664.30 on Thursday, 28 March 2024.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Rites declared that it had secured additional scope under an existing order for the replacement of mechanical signalling from Northern Railway. The project would entail replacing mechanical signalling at 11 stations and upgrading signalling gears based on age and condition with EI at Delhi Kisanganj Station of Delhi Division of Northern Railway. The company revealed that the additional scope had been secured under the existing order for Rs 330.25 million, inclusive of project management consultancy, on a turnkey basis. Rites, a Miniratna (Category-I) Schedule 'A' public sector enterprise, asserted its position as a leading player in the transport consultancy and engineering sector in India, boasting diversified services and geographical reach. It was noted that as of 31 December 2023, the Government of India held a 72.20% stake in the company. It was reported that the company's consolidated net profit had experienced a 14.24% year-on-year decline, reaching Rs 1.2 billion in Q3 FY24. Furthermore, revenue from operations saw a marginal increase to Rs 6.82 billion in the quarter ending 31 December 2023, compared to Rs 6.77 billion reported in Q3 FY23. The trading day concluded with shares of Rites settling 0.23% higher at Rs 664.30 on Thursday, 28 March 2024.

Next Story
Resources

KPIL Bags New Orders of Rs 10.11 Billion

Kalpataru Projects International Limited (KPIL), along with its international subsidiaries have secured new orders/notification of awards of Rs 10.11 billion (bn). The company has received news order in the Transmission & Distribution (T&D) business in overseas market, in the Railway business in India and in the Buildings & Factories (B&F) business in India Manish Mohnot, MD & CEO, KPIL, said, “We are pleased with the strong momentum in order inflows, which has significantly strengthened our order book, with YTD inflows now exceeding Rs 173 bn. Notably, 85 per cent of t..

Next Story
Building Material

Antica Ceramica’s Tile Collection Blends Luxury and Practicality

Antica Ceramica, a leader in innovative tile design, has recently launched a new marble-look tile collection that combines the elegance of natural marble with the durability and ease of maintenance of porcelain tiles. This collection is set to transform spaces in residential, commercial, and hospitality settings, offering architects, interior designers, and homeowners the ideal solution for creating sophisticated, timeless interiors with minimal upkeep.One of the key advantages of marble-look tiles is their resistance to common issues associated with natural marble. These tiles are highly resi..

Next Story
Infrastructure Transport

IndiGo and AAI Launch Zero-Waste Airport Project at Indore

IndiGo, through its CSR arm IndiGoReach, has partnered with the Airports Authority of India (AAI) and the AAS Foundation, Indore, to roll out the Zero-Waste Airport Project at Indore Airport. The initiative focuses on the 4R strategy—Reduce, Reuse, Recycle, and Recover—to minimise environmental impact and set a benchmark in sustainable waste management for the aviation industry. The project processes 750 kg of daily airport waste on-site, reducing reliance on traditional disposal methods. A Material Recovery Facility (MRF) segregates dry waste into 10 categories for recycling, while a Wet..

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