The contract involves maintenance of a dedicated test track between Gudha and Thathana Mithri stations in the Jodhpur division of North Western Railway.
The project is to be executed over a period of 60 months from the date of issuance of the letter of acceptance (LoA).
The order has been awarded by a domestic entity and is classified as a domestic contract.
The transaction is between a government organization and a government-owned company, with no promoter or group company interest involved.
It is also clarified that the contract does not fall under related party transactions.
RITES is a Navratna Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company has an experience spanning 50 years and has undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region. As of September, the Government of India held 72.20% in the company.
The company reported a 5.2% rise in consolidated net profit to Rs 115.10 crore on a 5.7% increase in revenue from operations to Rs 608.59 crore in Q3 FY26 as compared with Q3 FY25.
Shares of RITES rose 0.55% to end at Rs 191.65 on the BSE.