RITES Limited has informed the Exchange about major order secured from Bharat Electronics Limited.
RITES · price
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RITES has received a Letter of Intent from Bharat Electronics Limited (BEL) for Design, Project Management Consultancy (PMC) Services and Construction of a Mass Manufacturing Facility for EM SBU at BEL's Palasamudram site in Andhra Pradesh. The project will be executed on a cost-plus basis over 24 months. The estimated project cost is Rs. 177.225 crore excluding GST, including the PMC fee. BEL is a domestic public sector entity (a defence PSU under the Ministry of Defence), and the order is not a related party transaction for RITES.
This Rs. 177 crore order from a strong public-sector defence client adds meaningful, low-risk revenue visibility for RITES over the next two years and reinforces its role as a consulting and infrastructure execution partner for India's defence sector. The size is large enough to qualify as a 'major order' under disclosure rules, so it should be viewed as a positive fundamental development for the stock.