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Infrastructure consultancy firm RITES Limited has secured a major contract worth ₹59.13 crore from UP State Bridge Corporation Limited for supervision of various infrastructure projects across Uttar Pradesh as announced today.
The shares of RITES Limited were trading at ₹285.65 up by ₹7.80 or 2.81 per cent on the NSE today at 3.20 pm.
The company received the Letter of Acceptance for providing consultancy services for construction supervision of bridges, rail over/under bridges, flyovers, and elevated roads, including approaches in several districts of Uttar Pradesh. The contract will focus on supervision, monitoring, quality control, and work zone safety aspects of these civil works.
The project has a 36-month execution timeline and excludes GST from the contract value. RITES had earlier emerged as the lowest bidder (L-1) for this tender on September 5, 2024.
This domestic contract involves no related party transactions, and the company confirmed that its promoter group has no interest in UP State Bridge Corporation Limited, the awarding entity.
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