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

04 Sep 2023 CW Team

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).

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..