RITES Ltd , a premier transport infrastructure consultancy, has made significant strides in expanding its operational scope and reported positive financial results for the fourth quarter.

Strategic Partnership with NABCONS

RITES Ltd has signed a memorandum of understanding (MoU) with NABARD Consultancy Services Pvt. Ltd. (NABCONS), the consultancy arm of the National Bank for Agriculture and Rural Development (NABARD). This strategic partnership aims to jointly develop infrastructure and rural development projects both in India and internationally.

The collaboration leverages RITES' expertise in transport infrastructure with NABCONS' capabilities in agriculture and rural development. The partnership will focus on several key sectors, including:

• Rural infrastructure
• Agri-logistics
• Climate-resilient development
• Smart cities
• Green and sustainable mobility
• Digital public infrastructure
• Multimodal transport solutions
• Water and irrigation
• Third-party inspection
• AI/IT-enabled infrastructure services

Additionally, the partnership seeks to explore international opportunities through projects funded by multilateral development banks and other agencies.

Q4 Financial Performance

In its fourth quarter results, RITES Ltd demonstrated resilience and growth:

Despite a slight decline in revenue, RITES managed to improve its profitability and operational efficiency. The company's board has declared a final dividend of ₹2.65 per share, rewarding its shareholders.

Market Response

Following the announcement of the partnership and financial results, RITES shares closed at ₹260.40, marking a 0.91% decrease in value.

The strategic partnership with NABCONS and the positive financial results underscore RITES' commitment to diversifying its service offerings and maintaining financial stability. As the company continues to expand its footprint in infrastructure and rural development projects, it is well-positioned to contribute to India's growth story and explore opportunities in international markets.

RITES Ltd. , a leading transport infrastructure consultancy, has entered into a strategic partnership with NABARD Consultancy Services Pvt. Ltd. (NABCONS), a wholly owned subsidiary of the National Bank for Agriculture and Rural Development (NABARD). The collaboration aims to leverage the expertise of both organizations to promote inclusive and sustainable growth in infrastructure and rural development projects, both in India and abroad.

Partnership Details

The two companies signed a Memorandum of Understanding (MoU) in Gurugram. This agreement marks a significant step towards combining their respective strengths to deliver integrated consultancy and project management services across various sectors.

Key Focus Areas

The partnership between RITES and NABCONS will concentrate on several crucial areas:

• Rural and urban infrastructure
• Green and sustainable mobility
• Agri-logistics
• Climate-resilient development
• Digital public infrastructure
• Smart cities
• Multimodal transport solutions
• Water and irrigation
• Third-party inspection
• AI/IT-enabled infrastructure services

Complementary Expertise

NABCONS brings to the table its domain expertise in agriculture, rural development, natural resource management, and capacity building. On the other hand, RITES contributes its proven capabilities in infrastructure planning, engineering, and execution across transport, urban development, and sustainability sectors.

Global Ambitions

The collaboration isn't limited to domestic projects. Both organizations have expressed their intention to explore international opportunities, particularly focusing on projects funded by multilateral development banks and other agencies.

Company Profiles

RITES Limited

• A Navratna Public Sector Enterprise
• Leading player in transport consultancy and engineering sector in India
• 51 years of experience
• Projects undertaken in over 55 countries across Asia, Africa, Latin America, South America, and the Middle East

NABCONS

• Wholly owned subsidiary of the National Bank for Agriculture and Rural Development (NABARD)
• Specializes in agriculture and rural development consultancy

This partnership between RITES and NABCONS represents a significant step towards enhancing infrastructure and rural development capabilities in India and beyond. By combining their respective strengths, the two organizations are well-positioned to contribute to sustainable and inclusive growth across various sectors.