RITES aims for 365 orders a year, says Chairman Rahul Mithal
ROADS & HIGHWAYS

RITES aims for 365 orders a year, says Chairman Rahul Mithal

RITES, a government-owned company, is embarking on an ambitious endeavour to acquire 365 orders annually, with the aim of achieving an "order-a-day" target by the close of this fiscal year, as revealed by RITES Chairman Rahul Mithal.

Last year, the company received 250 orders, followed by 70 orders in the first quarter of the current fiscal year and 42 orders in the second quarter. Mithal stated, "Our aim is to reach an order a day (calendar days) i.e., 365 orders in a year. The trend is already there, and we aim to reach that goal by the end of this financial year."

At the end of the first quarter, the company's order book amounted to Rs 57 billion, with Rs 27 billion coming from consultancy services, a similar amount from the turnkey segment, Rs 1.5 billion from leasing, and Rs 1 billion from its subsidiary, Railway Energy Management (REMCL).

The pandemic significantly affected the export of rolling stock, posing a major challenge. Mithal explained that during the COVID-19 period, the company did not receive orders for about 2-2.5 years. To mitigate this, they aim to secure an order immediately to generate revenue at the beginning of the next fiscal year.

RITES is eyeing opportunities in African and Southeast Asian countries as their economies rebound post-pandemic. However, substantial results from these efforts are expected in the next fiscal year.

In the current quarter, the company has already secured 42 orders for consultancy services, and they plan to bolster their project consultancy revenue stream.

"Our niche strength is consultancy, and our mission is to be a go-to consultancy company," Mithal added.

Exports constitute another significant revenue stream for the company, providing a healthy topline margin. RITES has emerged as the lowest bidder for export orders from Mozambique and Zimbabwe, involving locomotives and wagons.

Furthermore, RITES has received orders for feasibility studies for ropeways, integrated modal stations, and multi-modal logistics parks from National Highways Logistics Management (NHLML), an arm of the National Highways Authority of India (NHAI).

RITES, a government-owned company, is embarking on an ambitious endeavour to acquire 365 orders annually, with the aim of achieving an order-a-day target by the close of this fiscal year, as revealed by RITES Chairman Rahul Mithal.Last year, the company received 250 orders, followed by 70 orders in the first quarter of the current fiscal year and 42 orders in the second quarter. Mithal stated, Our aim is to reach an order a day (calendar days) i.e., 365 orders in a year. The trend is already there, and we aim to reach that goal by the end of this financial year.At the end of the first quarter, the company's order book amounted to Rs 57 billion, with Rs 27 billion coming from consultancy services, a similar amount from the turnkey segment, Rs 1.5 billion from leasing, and Rs 1 billion from its subsidiary, Railway Energy Management (REMCL).The pandemic significantly affected the export of rolling stock, posing a major challenge. Mithal explained that during the COVID-19 period, the company did not receive orders for about 2-2.5 years. To mitigate this, they aim to secure an order immediately to generate revenue at the beginning of the next fiscal year.RITES is eyeing opportunities in African and Southeast Asian countries as their economies rebound post-pandemic. However, substantial results from these efforts are expected in the next fiscal year.In the current quarter, the company has already secured 42 orders for consultancy services, and they plan to bolster their project consultancy revenue stream.Our niche strength is consultancy, and our mission is to be a go-to consultancy company, Mithal added.Exports constitute another significant revenue stream for the company, providing a healthy topline margin. RITES has emerged as the lowest bidder for export orders from Mozambique and Zimbabwe, involving locomotives and wagons.Furthermore, RITES has received orders for feasibility studies for ropeways, integrated modal stations, and multi-modal logistics parks from National Highways Logistics Management (NHLML), an arm of the National Highways Authority of India (NHAI).

Next Story
Building Material

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Next Story
Technology

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

Next Story
Infrastructure Urban

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?