RITES Share Price in Focus as Board Approves Joint Venture with NICC Infrastructure in UAE

RITES Limited has announced its board's approval for a new joint venture with NICC Infrastructure Construction LLC. This collaboration aims to establish a Limited Liability Company in the United Arab Emirates, marking a strategic move for RITES. 

Board Approval for Joint Venture 

On June 25, 2026, the Board of Directors of RITES Limited approved the formation and capital investment in a proposed joint venture with NICC Infrastructure Construction LLC. The joint venture will take the form of a Limited Liability Company in the UAE. 

The decision aligns with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The company plans to disclose detailed information upon executing the Shareholders Agreement. 

Read More: PFC Declares Final Dividend For FY26, Sets Record Date Of July 31, 2026! 

RITES Q4 FY26 Earnings 

In the March 2026 quarter, RITES LIMITED's consolidated total income increased by 27.7% year-on-year (YoY) to ₹799.21 crore, up from ₹625.81 crore in the corresponding quarter of the previous year. 

This also represents a 25.9% increase from ₹634.85 crore in the December 2025 quarter. 

Net profit for the March 2026 quarter stood at ₹139.35 crore, marking a 1.4% YoY decrease from ₹141.33 crore. 

However, it showed a 21.1% increase from ₹115.10 crore in the December 2025 quarter. 

RITES Share Price Performance 

As of June 25, 2026, at 1:24 PM, RITES share price on NSE was trading at ₹209.82, up by 0.75% from the previous closing price. 

Conclusion 

RITES Limited's board approval for a joint venture with NICC Infrastructure Construction LLC to form an LLC in the UAE highlights a strategic expansion. The company will provide detailed disclosures following the execution of the Shareholders Agreement. 

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