RITES Share Price in Focus as it Secures ₹372.68 Crore Turnkey Project for NIMHANS OPD Construction in Bengaluru

Engineering consultancy firm RITES Limited announced that it has received a Letter of Award from the National Institute of Mental Health & Neuro Sciences (NIMHANS), Bengaluru. 

The project involves providing project management consultancy (PMC) services for the construction of a new Outpatient Department (OPD) building on a turnkey basis.

Order from NIMHANS

According to RITES’ exchange filing on November 3, 2025, the contract, valued at ₹372.68 crore (exclusive of GST), has been awarded by NIMHANS for the construction of a new OPD building at its Bengaluru campus. The project will be executed within 36 months.

The assignment covers end-to-end project management, including planning, execution, supervision, and delivery of the building infrastructure. The turnkey model ensures that RITES will be responsible for managing all aspects of the project from start to finish.

Project Highlights

• Client: National Institute of Mental Health & Neuro Sciences (NIMHANS), Bengaluru
• Nature of Work: Project Management Consultancy (PMC) for new OPD construction on a turnkey basis
• Project Value: ₹372.68 crore (exclusive of GST, including PMC fee)
• Execution Timeline: 36 months
• Transaction Type: Domestic, non-related party contract

The company clarified that neither the promoter group nor its subsidiaries hold any interest in the awarding entity, and the transaction does not fall under related party dealings.

RITES Share Price Movement

Following the announcement, RITES shares traded higher on November 4, 2025. The stock rose 0.82% to ₹249.91 at 12:40 PM on the NSE, compared to the previous close of ₹247.88. The shares touched an intraday high of ₹255.00 before stabilising near ₹250 levels.

Read More: NHAI Awards Contract for User Fee Collection and Maintenance on Ujjain-Garoth NH-752D Section.

Conclusion

The NIMHANS order adds another significant project to RITES’ growing portfolio of infrastructure consultancy and engineering assignments. With a strong execution track record and focus on turnkey solutions, RITES continues to play a key role in advancing India’s institutional and infrastructure projects.

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