Bengaluru-based iSky Transport Systems, renowned for its innovative Suspended String Rail Technology (SSRT) and sustainable urban transit solutions, has entered into strategic partnership to explore and implement transformative infrastructure projects, with a focus on futuristic urban mobility, container logistics, and material handling solutions across India.
Under the MoU, both parties will work together to combine RITES’s infrastructure expertise with iSky Transport’s execution capabilities and technological innovation to deliver sustainable transport technologies.
The partnership will leverage RITES’s vast experience in infrastructure consultancy and project execution, along with iSkyTransport’s Suspended String Rail Technology (SSRT) and its innovation-led approach to urban mobility. This alliance reflects a shared vision to contribute significantly to India’s infrastructure development, particularly in the areas of smart cities and multimodal connectivity.
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.
The scrip fell 2.22% to end at Rs 251.10 on Friday, 1 August 2025.