RITES Ltd. shares surged over 11% in Wednesday’s trade after the state-owned engineering consultancy announced a Rs 175.41 crore project management consultancy (PMC) contract from Babasaheb Bhimrao Ambedkar University (BBAU).
The stock climbed to Rs 225.90, outperforming the benchmarks, even as the Nifty 50 traded modestly higher. Buying interest was strong, with more than 13.4 million shares changing hands, well above the stock’s 30-day average trading volume of nearly 4 million shares.
In a stock exchange filing, RITES said it has been appointed as the Project Management Consultant for the planning, design and development of infrastructure facilities at the university campus. The scope of work also includes other allied infrastructure-related activities under a cost-plus consultancy model.
The total project value is estimated at Rs 175.41 crore, excluding GST, including the consultancy fee payable to RITES. The contract has been awarded by a domestic client and is scheduled to be executed over 30 months from the signing of the agreement or until completion of the assigned work, whichever is later.
The order adds to RITES’ consultancy portfolio, a key business segment for the company, and is expected to strengthen its project pipeline. As of March 31, 2026, RITES had reported its highest-ever order book of Rs 9,416 crore, providing strong revenue visibility across its transport infrastructure and consultancy businesses.
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