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“…we are pleased to inform you that RITES has been appointed as Project Management Consultant (PMC) for Execution, Supervision, Monitoring & Development of Phase II Campus of Indian Institute of Management Raipur (Chhattisgarh) Project on cost plus basis from Indian Institute of Management Raipur (IIM Raipur),” RITES said in a regulatory filing
The project, awarded by IIM Raipur, is valued at ₹148.25 crore (excluding GST), including the PMC fee. The contract involves the execution, supervision, monitoring, and overall development of the campus on a cost-plus basis. The project is expected to be completed within 23 months.
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RITES’ net profit for the quarter fell by 25% to ₹82.5 crore. RITES had reported a net profit of ₹110.2 crore during the same period last year. Revenue for the quarter declined to ₹541 crore, compared to ₹582.4 crore during the same period last year, a drop of 7.1%.
The company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) also fell 23% year-on-year to ₹106.4 crore, compared to ₹138 crore last year. EBITDA margin for the quarter narrowed to 19.7% from 23.6% last year.
Shares of RITES Ltd ended at ₹288.00, up by ₹0.10, or 0.035% on the BSE.
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