RITES Ltd has received revised cost estimates for the railway electrification project covering the Mysuru-Hassan-Mangaluru section, including the Hassan-Arsikere stretch. The update was disclosed to stock exchanges on March 6, 2026.
The work has been assigned by South Western Railway and is being executed on a cost-plus turnkey basis. The project forms part of ongoing railway electrification across several routes in southern India.
The revised project cost has been set at ₹729.28 crore, excluding Goods and Services Tax, and includes the fees payable to RITES.
The contract relates to electrification works along the Mysuru-Hassan-Mangaluru railway corridor and the Hassan-Arsikere section.
Electrification projects generally involve installation of overhead equipment, traction substations, and related systems required for operating electric trains. The work under this contract is currently listed as ongoing.
The order has been awarded by a domestic entity, South Western Railway, which operates under the Ministry of Railways.
The electrification work was originally part of a set of railway projects secured by RITES earlier. In June 2021, the company had informed exchanges that it had been awarded electrification work for the Mysore-Hassan-Mangalore route, including the Hassan-Arsikere section.
At that time, the project was valued at ₹461.23 crore, including fees. It formed one of the major electrification contracts secured by the company from the Ministry of Railways.
According to the disclosure, the contract is between a government railway zone and a government-owned company.
RITES stated that neither the promoter nor promoter group has any interest in the entity awarding the contract. The company also clarified that the arrangement does not fall under related-party transactions as it involves government organisations.
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As of March 6, 2026, 3:30 pm, RITES Ltd share price closed at ₹206.50, a 2.29% increase from the previous closing price.
The revised estimate increases the overall value of the electrification work compared with the earlier project cost. The project remains under execution and is part of the railway electrification programme being carried out across the network.
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Published on: Mar 9, 2026, 9:03 AM IST
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