RITES Limited has informed the Exchange regarding Major Order Secured from National Institute of Mental Health & Neuro Sciences
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RITES Limited has won a major order worth Rs. 372.68 crore (excluding GST) from the National Institute of Mental Health & Neuro Sciences (NIMHANS), Bangalore. The order is for Project Management Consultancy (PMC) for the construction of a new Outpatient Department (OPD) building at the NIMHANS Bangalore campus on a turnkey basis. The project is to be executed over 36 months. This is a domestic order from a government institution and is not a related party transaction, with no promoter or group company interest in NIMHANS.
This is a sizeable order for RITES, representing a meaningful addition to its order book and providing revenue visibility over the next three years. The win from a reputed government institution like NIMHANS reinforces RITES' positioning in infrastructure PMC services beyond its core railway consultancy, which is positive for shareholders.