Haryana

RITES order book up 27.5 pc in FY 19 at Rs 6,142 crore

ANI | April 12, 2019 12:58 PM
RITES has undertaken projects in over 55 countries

Gurugram (Haryana) [India]: Government-owned engineering consultancy company RITES Ltd said on Friday it secured more than 300 projects during 2018-19, taking its order book to Rs 6,142 crore from Rs 4,818 crore in the previous year.

Chairman and Managing Director Rajeev Mehrotra said that this will generate operational revenue in the next one to three years.

"Growing infrastructure investments in domestic and certain overseas markets will enable us to maintain order book growth in the coming years too," he said in a statement.

RITES recently secured the work for providing project management consultancy to Indian Railways Station Development Corporation at a fee of Rs 81.2 crore.

It also secured number of orders above Rs 10 crore which aggregate to Rs 137 crore in consultancy and leasing segment in the fourth quarter of FY 19.

The total order book of consultancy and leasing segment stands at Rs 2,320 crore and Rs 152 crore respectively.

The public sector mini-ratna enterprise secured a turnkey order for modernisation of a workshop from Northern Railway of Rs 853 crore. A consultancy project of High-Speed Rail Corporation of India Ltd has been converted to turnkey valuing at Rs 569 crore.

At the same time, RITES export order book stands at Rs 1,086 crore.

With experience spanning over 44 years, RITES has undertaken projects in over 55 countries including Asia, Africa, Latin America, South America and Middle East regions. 

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