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RITES Bags ₹175 Crore PMC Contract From BBAU

Prime Highlights

  • RITES secured a ₹175.41 crore PMC contract from BBAU for campus infrastructure development, to be executed over 30 months.
  • RITES also signed an MoU with CONCOR for concept-to-commissioning PMC services covering logistics infrastructure across India.

Key Facts

  • RITES Ltd is an infrastructure, consultancy and engineering firm.
  • RITES shares ended the day at ₹204.85 on the BSE, down 0.53%.

Background

RITES Ltd, a leading infrastructure, consultancy and engineering firm, has bagged a project management consultancy (PMC) contract worth ₹175.41 crore from Babasaheb Bhimrao Ambedkar University (BBAU). The company announced the development in the final week of June.

The contract covers infrastructure development works on the university campus, including planning, design and related services. RITES will carry out the order on a cost-plus PMC fee basis, with the full project cost excluding GST kept around ₹175.41 crore, and inclusive of the company’s fees as well.

RITES stated that the contract comes from a domestic entity and will run for 30 months from the date the agreement is signed, or until the work is completed, whichever comes later. The company clarified that neither its promoter nor promoter group firms hold any stake in the awarding entity, and the order does not count as a related-party transaction.

Separately, RITES signed a Memorandum of Understanding (MoU) with state-run Container Corporation of India Ltd (CONCOR) to jointly work on PMC services for logistics infrastructure. The tie-up will offer concept-to-commissioning consultancy for developing and upgrading CONCOR terminals, covering feasibility studies, detailed project reports, engineering design, project supervision and construction management.

The partnership aims to strengthen infrastructure such as multimodal logistics parks, inland container depots, rail-linked terminals, warehouses and allied facilities across the country. Both companies expect the collaboration to speed up the execution of logistics projects nationwide.

RITES shares closed at ₹204.85 on the BSE, down 0.53% on the day.

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