RITES Limited has informed the Exchange about update on major order received from Gujarat Urban Development Company Limited
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RITES Limited has received a Letter of Intent from Gujarat Urban Development Company Limited (GUDC) to act as a Third Party Inspection (TPI) agency for water supply, sewerage, and STP projects under the Amrut 2.0 and SJMMSVY schemes for urban local bodies in Gujarat. The order is valued at Rs. 28.50 crore (excluding GST) and is to be executed over 60 months (5 years). It is a domestic order, not a related party transaction, and there is no promoter interest in the awarding entity. This is an update to the company's earlier intimation dated June 3, 2025.
The order adds Rs. 28.50 crore to RITES' order book over 5 years, providing steady but modest revenue visibility. It strengthens the company's presence in the urban infrastructure inspection space but is unlikely to materially move the stock given the size relative to RITES' overall business.