The agreement entails the selection of RITES as the Third Party Inspection (TPI) agency for water supply systems (WSS), underground drainage (UGD), and sewage treatment plant (STP) initiatives under the AMRUT 2.0 and SJMMSVY programs in urban local bodies (ULBs) throughout Gujarat.
The project is set to be completed over a span of 60 months.
Also Read: RITES wins construction supervision order worth $2.9 million from GuyanaFourth Quarter Results
RITES reported a 3.4% rise in net profit for the fourth quarter, reaching ₹141 crore compared to the previous year. However, its revenue fell by 4.3% from the last fiscal year to ₹615 crore.
Its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 5.4% to ₹185.5 crore year-over-year, and its margin grew by 564 basis points to 30%.
The company also announced a final dividend of ₹2.65 per share for the financial year 2025, pending approval from shareholders at the upcoming annual general meeting. The record date for the dividend is yet to be determined.
Also Read: RITES bags order from Mahanadi Coalfields
Shares of RITES Ltd closed at ₹275.85, gaining ₹0.50, or 0.18%, on the BSE.
