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An update from RITES Ltd. ( (IN:RITES) ) is now available.
RITES Ltd. has secured a major consultancy contract from the Public Works (Roads) Directorate of the Government of West Bengal to serve as Project Management Consultant and Authority Engineer for a proposed four-lane extra-dosed bridge over the river Muriganga. The project will connect Kachuberia on Sagar Island with Kakdwip in South 24 Parganas, with an execution period of 48 months and a contract value of about Rs 45.19 crore, underscoring RITES’ role in key regional connectivity projects and reinforcing its position as a preferred government infrastructure consultant.
The transaction is between a state government and a government company, indicating it does not constitute a typical related-party deal under commercial group structures. This order is expected to enhance RITES’ consultancy order book in the domestic market and support long-term revenue visibility, while contributing to improved transport links and economic development in coastal West Bengal.
More about RITES Ltd.
RITES Ltd. is an India-based engineering and consultancy company with a strong presence in transport infrastructure, particularly in railways, roads, and bridges. The company primarily provides project management, design, and construction supervision services to government entities, bolstering public infrastructure development across the country.
Average Trading Volume: 90,143
Technical Sentiment Signal: Sell
Current Market Cap: 96.99B INR
For a thorough assessment of RITES stock, go to TipRanks’ Stock Analysis page.