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RITES order book swells by 27.5% during 2018-19

Infra News - Published on Mon, 15 Apr 2019

Image Source: Zee Business
RITES order book has substantially improved from INR 4818 crore as on 31st March 2018 to INR 6142 crore on March 31st 2019 after it secured more than 300 projects & contracts including extension in scope of projects during FY19. Mr Rajeev Mehrotra, CMD RITES, said "Company's current order book of INR 6142 crore will generate operational revenue over coming 1-3 years. Growing infrastructure investments in domestic and certain overseas markets will enable us to maintain order book growth in the coming years too."

Recently, RITES secured the work for providing Project Management Consultancy to Indian Railways Station Development Corporation at a fee of INR 81.2 crore. RITES also secured number of orders above INR 10 crore which aggregate to INR 137 crore in consultancy and leasing segment in Q4 FY19. Total order book of consultancy and leasing segment as on 31.03.2019 stands at INR 2320 crore and INR 152 crore respectively.

RITES has secured a turnkey order for modernization of workshop from Northern Railway of INR 853 crore. A consultancy project of High Speed Rail Corporation of India Ltd has been converted to turnkey valuing at INR 569 crore. A turnkey project received earlier from Indian Railways saw a reduction in scope of work of INR 294 crore. Turnkey order book is at INR 2584 crore as on 31.03.2019, as compared to INR 1408 crore as on 31.03.2018.

After successful completion of trial runs of its first Locomotive and DMU set in Sri Lanka, RITES has exported one more DMU set and locomotive to them in Q4 FY19. Export order book as on 31.03.2019 stands at INR 1086 crore.

Source :

Posted By : Rabi Wangkhem on Mon, 15 Apr 2019
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