Shares of RITES Ltd. surged over 13% to ₹230.80 following the announcement of the ₹175.41 crore project management consultancy (PMC) contract from Babasaheb Bhimrao Ambedkar University (BBAU). The stock climbed as high as ₹241.30 during intraday trading, significantly outperforming the benchmarks even as the NIFTY 500 traded modestly higher. According to Moneycontrol, the average trading volumes jumped 17 times to 87.28 lakh shares compared with an average volume of 5.13 lakh shares on the NSE, representing a substantial increase from the stock's 30-day average trading volume of nearly 4 million shares. On the BSE, 13.5 lakh shares changed hands compared with an average of 42,000 shares traded daily in the past two weeks.
Infrastructure, consultancy, and engineering firm RITES Ltd has secured a ₹175.41 crore project management consultancy (PMC) contract from Babasaheb Bhimrao Ambedkar University (BBAU) for infrastructure development works on its campus. According to the latest stock exchange filing reported by Moneycontrol, the company has been appointed as the Project Management Consultant for the planning, design and development of infrastructure facilities at the university campus. The scope of work includes other allied infrastructure-related activities under a cost-plus consultancy model. The contract has been awarded by a domestic entity and will be executed over 30 months from the date of signing of the agreement or until completion of the allotted work, whichever is later. As per Moneycontrol, the order covers planning, design and development of infrastructural facilities and other related works in the campus of BBAU on cost plus PMC Fee basis.
In a significant development, RITES has signed a Memorandum of Understanding (MoU) with Container Corporation of India (CONCOR) to collaborate on Project Management Consultancy (PMC) services for logistics infrastructure development. According to the exchange filing reported by The Economic Times, the partnership will leverage RITES' multidisciplinary engineering and project management expertise to support the planning, design, execution and supervision of infrastructure projects undertaken for CONCOR. The collaboration will include feasibility studies, preparation of Detailed Project Reports, detailed engineering, architectural and structural design, project supervision, quality assurance, and construction management. The services will support the development and improvement of infrastructure including multimodal logistics parks, inland container depots, rail-linked terminals, warehouses, railway infrastructure, administrative buildings, roads, utilities and allied facilities.
As reported by Business Standard, RITES reported a 1.40% decline in consolidated net profit to ₹139.35 crore despite a 27.55% increase in revenue from operations to ₹768.26 crore in Q4 FY26 compared with Q4 FY25. The total project cost is approximately ₹175.41 crore, excluding GST, including RITES' fees. The company has clarified that neither its promoter nor promoter group companies have any interest in the entity awarding the contract. The order also does not qualify as a related-party transaction, ensuring proper governance standards are maintained throughout the project execution. This contract adds significantly to RITES' consultancy portfolio, which is a key business segment for the company, and is expected to strengthen its project pipeline.
The latest contract win comes as RITES reported its highest-ever order book of ₹9,416 crore as of March 31, 2026, providing strong revenue visibility across its transport infrastructure and consultancy businesses. As reported by CNBC TV18, the company secured more than 120 orders (including extension of works) worth more than ₹958 crore in January to March 2026 quarter (Q4FY26). The total unexecuted order book is proposed to be executed in the next 2-3 years, which provides revenue visibility over the medium term. Management has indicated that FY26-27 will be aimed to be the year of disruptive growth across all business streams, following what they described as a year of business re-engineering and consolidation.
According to The Economic Times, RITES shares have shown mixed performance over different time periods. The stock went up 18.05% in the past three months and nearly 11% in the last one month, indicating recent positive momentum. However, the shares have crashed 19.88% in the past one year and 35.32% in the last two years, reflecting the volatility in the stock's longer-term performance. The latest contract win and strategic partnership with CONCOR are expected to support the company's recovery and growth trajectory in the coming quarters.
