Rites said that it has received contract from Indian Institute of Management (IIM) Raipur for execution, supervision, monitoring & development of Phase II Campus of Indian Institute of Management (IIM) Raipur (Chhattisgarh) Project.
The company has been appointed as project management consultant (PMC) for the said project. The cost of the project is Rs 148.25 crore (including PMC fee). The company will complete the project within 23 months.RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company.
The companys consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24.
The counter shed 0.17% to settle at Rs 287.40 on Thursday, 6 December 2024.
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