RITES Limited has informed the Exchange regarding a press release dated July 30, 2025, titled "RITES & NABCONS sign MoU to drive infra & rural development".
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RITES Limited, a Navratna public sector transport infrastructure consultancy, has signed a Memorandum of Understanding (MoU) with NABARD Consultancy Services Pvt. Ltd. (NABCONS), a wholly owned subsidiary of NABARD. The partnership aims to jointly work on infrastructure and rural development projects in India and abroad. Areas of collaboration include rural and urban infrastructure, green and sustainable mobility, agri-logistics, climate-resilient development, digital public infrastructure, smart cities, and multimodal transport solutions. Both firms will also explore international opportunities funded by multilateral development banks. The MoU combines NABCONS's rural and agricultural expertise with RITES's infrastructure planning and engineering capabilities.
The MoU is non-binding and not expected to move the stock immediately, but it expands RITES's addressable market into rural, agri-logistics, and multilateral-funded projects, potentially supporting long-term order book growth.