TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts
TITAGARH · price
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Titagarh Rail Systems Limited, along with its associate Titagarh Firema S.p.A, has received a Letter of Approval from Maharashtra Metro Rail Corporation Limited for supplying 12 additional trainsets for the Pune Metro Rail Project. This is a quantity variation under an existing 2019 contract. The order is worth approximately INR 430.53 Crores and is to be executed within 30 months. The order has been awarded by a domestic government entity (a joint venture of the Government of India and Government of Maharashtra). No related party interest is involved in the transaction.
This is a positive development for Titagarh Rail Systems, adding meaningful revenue visibility of about INR 430 Crores over the next 30 months and strengthening its order book in the metro rail segment. Shareholders may view this as a sign of sustained demand and execution capability in India's expanding metro rail infrastructure space.