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RITES bags turnkey contract worth Rs 47 crore in Karnataka

12-Jul-25   11:58 Hrs IST

The contract has been awarded by the Department of Collegiate and Technical Education (DCTE), Office of the Commissioner, Unnatha Shikshna Soudha, Seshadri Road, Bengaluru.

The aforementioned project was earlier considered on project management consultancy (PMC) basis. It now has been converted into turnkey contract (cost of project plus RITES fees).

The project cost, including RITES fees, is Rs 46.82 crore. The project has to be executed within a period of 36 months.

RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2025, the Government of India held a 72.20% stake in the company.

The company's consolidated net profit rose 5.24% to Rs 132.71 crore despite a 4.32% decline in revenue to Rs 615.43 crore in Q4 FY25 as compared with Q4 FY24.

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