RITES Ltd has signed a memorandum of understanding (MoU) with NABARD Consultancy Services (NABCONS), a wholly owned subsidiary of NABARD. The agreement was formalised on July 30, 2025, in Gurugram and was shared in an exchange filing.
The 2 organisations will work together on projects related to infrastructure and rural development, both in India and internationally.
Under the MoU, RITES will provide expertise in infrastructure planning, engineering, and execution. NABCONS will bring in its experience in agriculture, rural development, natural resource management, and capacity building. The partnership will cover a set of areas involving transport, urban planning, and sustainability.
The collaboration will offer consultancy and project management services in rural and urban infrastructure, agri-logistics, climate-resilient planning, green mobility, and digital public infrastructure. Additional areas include smart cities, multimodal transport, water and irrigation systems, and third-party inspection.
Apart from domestic initiatives, the MoU outlines plans to jointly pursue international projects. These include assignments funded by multilateral development banks and global agencies. RITES has already delivered projects in over 55 countries across various continents.
RITES is a transport consultancy and engineering firm under the Ministry of Railways and holds Navratna status. NABCONS is the consultancy arm of NABARD, focused on agriculture and rural development. Both organisations have previously worked independently on sector-specific assignments.
Read more: RITES Secures ₹177 Crore Project from Bharat Electronics!
In Q4 FY25, RITES reported a net profit of ₹141 crore, up 3.4% year-on-year. Revenue dropped 4.3% to ₹615 crore from ₹643 crore in the same period last year. EBITDA stood at ₹185.5 crore, with margins improving by 564 basis points to 30%. A final dividend of ₹2.65 per share has been announced for FY25.
As of 9:47 AM on July 31, 2025, Rites share price was trading at ₹257.45, a 1.19% decrease.
The MoU outlines a joint plan to address infrastructure and rural development goals through combined sectoral strengths and operational experience.
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Published on: Jul 31, 2025, 10:19 AM IST
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