#IMW2025 #IndianMaritimeWeek2025

The post RITES Signs MoU with Shipping Corporation of India to Strengthen Maritime Logistics and Multimodal Transport appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The agreement is effective for a period of five years from the date of signing and can be extended further with mutual consent.

Speaking on the occasion Mr Neeraj Akhoury, Managing Director, Shree Cement said, “As we expand our manufacturing footprint across India, strengthening our logistics and supply chain infrastructure becomes increasingly critical. Our collaboration with RITES is a strategic step towards creating a more efficient, cost-effective and sustainable transportation system that supports our growth while reducing environmental impact.”

Under the terms of the MoU, RITES will cover the services from concept to commissioning in connection with the up-gradation, renovation and establishment of new rail connectivity for the transportation of raw materials, cement, and other associated materials. Further, RITES will act as the Project Management Consultant (PMC), providing end-to-end consultancy services that span the entire lifecycle of infrastructure projects from reconnaissance and feasibility studies to detailed project reports and execution management.

As part of its role, RITES will also assist in securing all necessary approvals from the Ministry of Railways and other relevant authorities for civil, signal and telecom, overhead electrification and mechanical engineering components. Additionally, RITES will support Shree Cement in contractor selection by evaluating and certifying the eligibility of executing agencies during the tendering process.

Dr. Deepak Tripathi, Director (Technical) & Director (Projects, Addl Charge), RITES Ltd., said, “We are pleased to partner with Shree Cement in the infrastructure development journey. With our proven expertise in rail and transport engineering, we are confident of delivering integrated and future-ready solutions that align with our mutual business goals.”

The post Shree Cement and RITES inks partnership to enhance Rail Infrastructure for seamless logistics appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

As part of a parallel event hosted by the MoPSW on ‘Boosting Ports, Shipping & Waterways: Powering the Blue Economy – Viksit Bharat with Budget 2025’, Hon’ble Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal unveiled the official MAITRI logo.

Hon’ble Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal at a workshop on MAITRI hosted by RITES in Mumbai on Thursday.

The workshop witnessed participation from key domestic and overseas stakeholders, including officials from Ministry of Ports, Shipping & Waterways (MoPSW), Deendayal Port Authority, JNPA, DP World, AD Ports, GTI, PSA, NSDT, NSFT, and others. Discussions covered logistics, shipping lines, customs facilitation, IT security, regulatory compliance, and interoperability with the existing platforms. The deliberations, followed by a Q&A session, provided more insights into the MAITRI’s concept and the way forward.

The post RITES Hosts Workshop on MAITRI; logo unveiled appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

This strategic partnership will combine RITES’ expertise in transport infrastructure consultancy and project management with CWPRS’ advanced research capabilities in water resources to drive innovative solutions in marine, coastal, inland waterways, and hydropower infrastructure. It aims at enhancing project efficiency and sustainability through joint engineering consultancy, research, and development initiatives.

The post RITES & CWPRS collaborate on Marine Infra Consultancy appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Under this MoU, both parties will explore opportunities for collaboration in areas such as e-Governance, cybersecurity & cyber forensic, cloud computing, big data analytics, free and open source software and solutions, IoT, Artificial Intelligence and Machine Learning, education and training, research and development in cutting-edge technologies relevant to various consultancy assignments.

As an initial step, RITES and C-DAC will collaborate on developing the ‘MAITRI’ platform, enabling digitalisation of trade information for the seamless movement of cargo between Indian and Middle East ports as part of the first phase of international Virtual Trade Corridor.

The post RITES & C-DAC collaborate on IT solutions for consultancy works  appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Gurugram, January 28, 2025: RITES Ltd. (NSE: RITES, BSE: 541556), the leading Transport Infrastructure Consultancy and Engineering firm, today announced its standalone and consolidated financial results for the Quarter ended on December 31^st, 2024. 

The Takeaways

• Sequential Total Revenue up by 9.3%, from ₹562 crore to ₹614 crore;
  PAT from ₹83 crore to ₹109 crore
• Highest-ever Order Book of ₹7978 crore; Secured 110+ orders worth ₹1933 crore in Q3,
  nearly equal to the orders received in the entire FY24
• Third interim dividend of ₹1.9 per share, with Payout Ratio of 96.1% 

Q3FY25 Financials (Consolidated)           

• Operating Revenue at ₹576 crore
• EBITDA at ₹123 crore with Margins of 21.3%
• PAT at ₹109 crore against ₹129 crore in Q3FY24

9MFY25 Financials (Consolidated)           

• Total Revenue stands at ₹1685 crore against ₹1871 crore in 9MFY24
• EBITDA at ₹338 crore with Margins at 21.1%
• PAT at ₹282 crore against ₹359 crore in 9MFY24 

Commenting on the results, Mr. Rahul Mithal, Chairman and Managing Director, RITES Limited, said, “This quarter’s performance reflects our being able to achieve our targeted objective of making steady progress sequentially, improving in all the parameters.” 

Financial Performance in Q3FY25

RITES operating revenue (consolidated), excluding other income, stands at ₹576 crore in Q3FY25 as against ₹683 crore in Q3FY24, a dip by 15.7%. Total revenue is ₹614 crore as against ₹700 crore in Q3FY24. EBITDA and PAT stand at ₹123 crore and ₹109 crore with margins of 21.3% and 17.8%, respectively. Year-on-year, there is a decrease in revenue which is attributed to lesser revenue from quality assurance, a downtick in turnkey and no exports.

Standalone

Operating revenue, excluding other income, stands at ₹545 crore in Q3FY25 against ₹653 crore in Q3FY24. Total standalone revenue is ₹592 crore against ₹678 crore in Q3FY24. EBITDA and PAT, with respective margins of 16.6% and 16.1%, stand at ₹90 crore and ₹95 crore against ₹144 crore and ₹119 crore, respectively, in Q3FY24.

Financial Performance in 9MFY25

RITES operating revenue (consolidated), excluding other income, stands at ₹1602 crore in 9MFY25 as against ₹1810 crore in 9MFY24. Total revenue stands at ₹1685 crore as against ₹1871 crore in 9MFY24. Year-on-year, there is a decrease in revenue on account of a significant dip in revenue from the Export segment, Quality Assurance business and consultancy abroad.  EBITDA and PAT stand at ₹338 crore and ₹282 crore against ₹471 crore and ₹359 crore, respectively, in 9MFY24. EBITDA and PAT margins at 21.1% and 16.8%, respectively.

Segmental Performance

The Consultancy business continues to provide the highest revenue to the company and achieved the revenue of ₹280 crore with margins at 34.1%. The fall in Consultancy revenue is attributable to the dip in Quality Assurance revenue. Leasing revenue stands at ₹40 crore, maintaining the margins of 35.9%. Turnkey revenue stands at ₹223 crore and no exports were carried out during the quarter.

Dividend

The Board of Directors has declared the third interim dividend of ₹1.9 per share amounting
₹91.31 crore. The record date for the purpose of payment of dividend is February 1, 2025.

Order Book

The company has secured more than 110 orders (including extension of works) worth more than ₹1933 crore in Q3FY25, thereby achieving the highest-ever order book of ₹7978 crore as on December 31st, 2024.

 Outlook

On the growth prospects, Mr. Mithal said, “Securing orders of more than ₹1900 crore in just one quarter, which is nearly equal to the orders received in the entire FY24, underscores our strategy to aggressively march ahead, leveraging our multisectoral strength and maintaining our USP of being a ‘1 order a day’ company.”

The post RITES Q3FY25 Revenue ₹614 cr; PAT ₹109 cr appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

RITES CMD Mr. Rahul Mithal and Etihad Rail CEO Mr. Shadi Malak at the MoU-signing ceremony in Abu Dhabi

The MoU was signed by Mr. Shadi Malak, CEO of Etihad Rail, and Mr. Rahul Mithal, Chairman and Managing Director of RITES Ltd., during the Global Rail Transport Infrastructure Exhibition & Conference held in Abu Dhabi.

The partnership aims at leveraging strengths of both the entities to explore collaborative opportunities for supply/leasing of rolling stock, consultancy and project management for railway projects, services such repairing of rolling stock and operation & maintenance of railway infrastructure  to ensure more efficient and modernised rail services in the UAE and across the region.

Another key initiative, under the terms of the MoU, is the capacity analysis of rail corridors in the UAE and nearby geographies, thus aiming to help improving efficiency, streamlining logistics and enhancing trade routes. Emphasizing on innovation and the use of cutting-edge technology, both parties will explore advanced IT solutions for train operations & passenger management and technical inputs on maintenance practices.

Leveraging the unique strengths of both entities, the partnership will also entail knowledge transfer, expertise sharing, and workforce development. Comprehensive training programmes and employee-exchange initiatives form crucial elements of the partnership.

On the occasion of signing of the MoU, Mr. Rahul Mithal, Chairman & Managing Director, RITES Ltd., said: “This strategic collaboration with Etihad Rail underscores our strengths and commitment to operational excellence & innovation, while contributing to sustainable infrastructure development. It represents a significant advancement in our strategic initiative of ‘RITES Videsh’, aimed at expanding our global services. Together, the entities are laying the foundation to significantly contribute to enhanced connectivity, setting new benchmarks of excellence in the industry.”

Commenting on the partnership, Mr. Shadi Malak, CEO of Etihad Rail, said: “This strategic partnership with RITES marks a significant step towards our vision of enhancing connectivity and transforming the transportation landscape in the UAE. Guided by the vision and support of our wise leadership, we will leverage our combined expertise to modernize and enhance the efficiency of the UAE National Railway Network, sharing and exchanging knowledge and solutions to benefit this growing sector. Through this collaboration, we will yield forward-thinking, innovative solutions that benefit both our freight services and future passenger services, contributing to the overall infrastructure and operational excellence of the region.”

The post RITES & Etihad Rail sign MoU for rail infra works in UAE appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

This collaboration marks a significant step forward for both organizations, as they combine their strengths to accelerate the nation’s infrastructure development.The MoU was officially signed by Dr.Sukanya Ghosh, Executive Director (Consultancy Services) HUDCO, and Pankaj Chaudhary, Chief Strategy Officer RITES Limited, in the presence of Sanjay Kulshreshtha, CMD , HUDCO, and Rahul Mithal, CMD RITES Limited, and other senior officials.

The MoU establishes a collaborative framework that allows both organizations to take up a comprehensive range of consultancy and fee-based projects. HUDCO will extend finance for a variety of infrastructure projects, while RITES will leverage its consultancy expertise to support projects funded by HUDCO.

The partnership aims to transform India’s infrastructure landscape by ensuring comprehensive support to sectors such as metro rail, roads, airports, ports, highways, expressways, tunnels, urban transport, energy, water resources, waste management, and urban development.

The post HUDCO and RITES Limited Sign MoU to Boost Infrastructure and Urban Development in India   appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

1 . NEW DELHI . Govt mulls diluting up to 5% stake in LIC in FY25; Business Line

2 . NEW DELHI . Coal India & GAIL Sign a JV for Setting up Coal to SNG Plant. The plant to come up in Raniganjarea of Eastern Coalfields Limited, West Bengal.

3 . NEW DELHI . Assets worth Rs 3.86 lakh cr monetised in 3 years to FY24; coal sector highest contributor.

4 . KOCHI . KSEB was criticised for missing low-cost electricity procurement with SVJN.. Mathru Bhoomi

5 . NEW DELHI . Govt. of Uganda Dedicates Sub-Stations Built with POWERGRID as PMC.

6 . NEW DELHI . PFC Q1 Results: Net profit rises 24% to Rs 3,718 crore.

7. KOLKATA . Shipping Corporation sale on the verge of collapse as bidders said to lose interest.

8 . NEW DELHI . HUDCO and RITES Limited Sign MoU to Boost Infrastructure and Urban Development in India.

9 . NEW DELHI . PFC Independent Directors Raise Concerns Over Rs.20,000-cr Loan Plan for SP Group; MINT

10 . NEW DELHI . IndiGo offers business class on 12 routes, tickets start at Rs 18000; Business Standard

11 . NEW DELHI . Gati Shakti Vishwavidyalaya In Collaboration With Airbus Begins Its First Executive Training Program For Aviation Sector In New Delhi

12 . NEW DELHI. ONGC was honoured with the EEF Global Environment Award 2024 for reducing pollution and environmental management.

13 . BANGLURU. Graphisads was recognised as an OOH Regional Powerhouse at the recently concluded National Outdoor Advertising Convention.

14 . MUMBAI. Govt appoints CS Setty as SBI chairman; Rana Ashutosh Kumar Singh to take-over as MD; Deccan Herald

15 . NEW DELHI . PESB selects Manoj Kumar Agarwal for Director (Technical), BCCL.

16 . NEW DELHI . The government appoints Harish Dudani as a Member in CERC.

The post NEWS MANTRA UPDATES appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The post RITES signed a MoU with NHAI to provide consultancy services for highways, bridges, and tunnels. appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.