State-owned RITES Ltd on Thursday (March 6) said it has received a letter of acceptance (LoA) from South Central Railway for conducting the final location survey for high-speed elevated rail corridors between Hyderabad-Bengaluru and Hyderabad-Chennai.
“…we are pleased to inform you that RITES has received Letter of Acceptance for “Carrying out Final Location Survey involving Preparation of DPR, Final Alignment Design, Traffic Survey Report, ROR calculations, Detailed Estimate and Preparation of EPC documents for High Speed Elevated Rail Corridor between Hyderabad- Benguluru and Hyderabad-Chennai using Modern Survey Techniques e.g. Airborne or Terrestrial LIDAR” from South Central Railway and formal agreement shall be executed in due course,” according to a stock exchange filing.
The contract, valued at ₹27.96 crore (excluding GST), involves preparing a detailed project report (DPR), final alignment design, traffic survey report, return on revenue (ROR) calculations, a detailed estimate, and EPC documents using advanced survey techniques such as airborne or terrestrial LiDAR.
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The project is expected to be completed within eight months. A formal agreement will be executed in due course.
Low-key Q3
For the third quarter, RITES’ net profit fell 15% year-on-year (YoY) to ₹109.4 crore. Revenue for the quarter fell 15.7% from last year to ₹575.8 crore. The company had reported a topline of ₹682.9 crore in the base quarter.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for RITES fell 30.5% on a YoY basis to ₹117.4 crore, while the margin narrowed by 440 basis points from last year to 24.8%.
Also Read: RITES Q3 Results: Railway PSU reports decline in revenue, margin but declares dividend
Shares of RITES Ltd ended at ₹212.80, up by ₹3.35, or 1.60%, on the BSE.
(Edited by : Shoma Bhattacharjee)
