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.

RITES Limited , a leading transport infrastructure consultancy and engineering company, has announced a significant new contract win, bolstering its project portfolio and reinforcing its position in the infrastructure sector.

Contract Details

RITES has received a Letter of Intent (LOI) from Bharat Electronics Limited (BEL) for a major project valued at approximately ₹177.23 crore. The scope of work includes:

• Design services
• Project Management Consultancy (PMC) services
• Construction of a Mass Manufacturing Facility for EM SBU at BEL – Palasamudram, Andhra Pradesh

The contract will be executed on a cost-plus basis, indicating potential for additional revenue based on the project's final costs.

Project Timeline

The project has a stipulated execution period of 24 months from the date of the agreement. This timeframe underscores the substantial nature of the work involved and highlights RITES' capability to handle complex, long-term projects.

Impact on RITES

This contract represents a significant business opportunity for RITES, showcasing the company's expertise in providing comprehensive infrastructure solutions. The project aligns with RITES' core competencies in design and project management consultancy, particularly in the industrial infrastructure sector.

Quarterly Financial Results

In its latest quarterly results, RITES reported:

Dividend Announcement

The company has declared a final dividend of ₹2.65 per share for financial year 2025, subject to shareholder approval at the 51st Annual General Meeting.

Market Implications

The securing of this contract from a reputed public sector enterprise like Bharat Electronics Limited demonstrates RITES' strong positioning in the market and its ability to win high-value projects. This development contributes to RITES' order book and future revenue streams.

Stock Performance

RITES shares closed down 3.29% at ₹264.60.

Compliance and Disclosure

In compliance with regulatory requirements, RITES has promptly disclosed this information to the stock exchanges. The company has confirmed that this transaction does not fall under related party transactions, and there is no interest of promoter/promoter group/group companies in the awarding entity.

The successful execution of this project could potentially lead to more opportunities in the industrial infrastructure segment, further diversifying RITES' project portfolio.