RITES has secured a significant consultancy contract worth ₹79.22 crore from the Patna Metro Rail Corporation for the implementation of the Patna Metro Rail Construction Project. According to the latest disclosure filed with stock exchanges, the company announced this development as part of a consortium arrangement. The contract scope encompasses providing comprehensive consultancy services for the entire Patna Metro Rail construction project implementation.
The consultancy contract is scheduled for execution over a 68-month period, as reported by Business Standard. The company has confirmed that the contract does not constitute a related-party transaction and emphasized that neither its promoters nor members of the promoter group have any interest in the award of this contract. This transparency measure ensures regulatory compliance and stakeholder confidence in the contract award process. The official announcement was made on Friday, 26 June 2026 after market hours, with the filing made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the intimation signed by Nikhil Agarwal, Company Secretary & Compliance Officer of RITES Limited.
RITES operates as a public sector enterprise and stands as a leading player in India's transport consultancy and engineering sector. According to Business Standard, the company serves as the only export arm of Indian Railways for providing rolling stock overseas, with operations spanning Thailand, Malaysia, and Indonesia. The stock counter demonstrated mixed market response, shedding 0.57% to settle at ₹225.10 on BSE following the contract announcement.
Despite securing this major contract, RITES reported mixed financial results for Q4 FY26. As reported by Business Standard, the company experienced a 1.40% decline in consolidated net profit to ₹139.35 crore in Q4 FY26 compared with Q4 FY25. However, the company showed strong revenue growth with a 27.56% increase in revenue from operations to ₹768.26 crore in Q4 FY26 compared with the corresponding quarter of the previous fiscal year.
