Rites emerges L-1 bidder for Rs 400-cr overseas railway contract

Rites announced that it has been emerged as the lowest bidder (L-1) in a tender floated by Sri Lanka Railways for the supply of Broad Gauge Diesel Multiple Unit (DMU) train sets.

The estimated value of the bid is approximately Rs 400 crore ($ 41.45 million). The proposed contract is to be executed within 12 months from the opening of the letter of credit (LC).

However, further progress in the matter is subject to the scrutiny and evaluation process by Sri Lanka Railways in accordance with the requirements specified in the tender documents.

RITES is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the export arm of Indian Railways for supplying rolling stock to overseas markets, except Thailand, Malaysia and Indonesia.

The company reported a 7.58% year-on-year (YoY) increase in consolidated net profit to Rs 97.78 crore in Q1 FY27, compared with Rs 90.89 crore in the corresponding quarter last year. Revenue from operations rose 8.67% YoY to Rs 532.20 crore in the quarter ended 30 June 2026 from Rs 489.70 crore in Q1 FY26.

The counter advanced 1.59% to settle at Rs 191.50 on the BSE.

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