RITES Share Price Rises Over 4% as It Secures ₹27.96 Cr High-Speed Rail Corridor Contract

RITES Limited’s share price surged 4.54% to ₹222.46 at 10:00 AM on the NSE, opening at ₹215 and hitting an intraday high of ₹225. Today’s rise extends a three-session gaining streak, of over 7%.

RITES Railway Project Details

In a significant development for India’s railway infrastructure, RITES Ltd., a leading engineering consultancy firm, has secured a ₹27.96 crore contract from South Central Railway.

The project involves conducting a Final Location Survey (FLS) using advanced Airborne and Terrestrial LiDAR technology for the High-Speed Elevated Rail Corridor connecting Hyderabad to Bengaluru and Hyderabad to Chennai.

The Hyderabad-Bengaluru and Hyderabad-Chennai corridors are expected to reduce travel time, enhance economic growth, and contribute to sustainable urban development.

Scope of Work: Enhancing Rail Connectivity

The awarded contract requires RITES to carry out comprehensive planning and survey activities, including:

1. Preparation of a Detailed Project Report (DPR)
2. Final Alignment Design
3. Traffic Survey Report
4. Rate of Return (ROR) calculations
5. Detailed Estimate Preparation
6. Engineering, Procurement, and Construction (EPC) document development

Project Timeline and Execution

The contract is set to be completed within an 8-month timeframe, showcasing RITES’ efficiency and expertise in executing large-scale railway projects. The use of modern survey techniques like LiDAR technology will ensure precision and accuracy, optimising the project’s feasibility and design.

Conclusion

RITES’ involvement in this ambitious project reinforces its position as a trusted partner in India’s railway modernisation efforts. The use of cutting-edge survey technologies will pave the way for efficient project execution and enhanced passenger experience. With such initiatives, India moves one step closer to achieving a world-class high-speed rail network.

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