Rs 6,355 Crore Order Book: LCI-Backed Railway Infra Company Emerges as L-1 Bidder for Civil Work Consultancy Services in UP State Bridge Corporation Tender!

LIC holds a 6.27 per cent stake in the company as per Q1 FY25.

RITES Ltd has been declared the lowest bidder (L-1) in a tender issued by UP-State Bridge Corporation Limited. The tender is for Consultancy Services related to the supervision, monitoring, quality control, and work zone safety for the construction of bridges, rail over/under bridges, flyovers, and elevated roads, including their approaches, across several districts in Uttar Pradesh.

The bid is valued at approximately Rs 60.03 crore, plus GST, and is subject to the final award after the necessary scrutiny and evaluation by the UP-State Bridge Corporation Limited, in line with the tender’s requirements.

On Friday, RITES's shares closed at around Rs 662.10 per share on the BSE. The company’s current market capitalization stands at Rs 15,910 crore. Additionally, the shares have delivered a multi-bagger return of over 30 per cent in just one year.

As per the Quarterly Results, in the first quarter of FY25, RITES recorded a revenue of Rs 486 crore. The operating profit for Q1 FY25 stood at Rs 106 crore, and the net profit was Rs 90 crore. Looking at the annual performance, the company generated a revenue of Rs 2453 crore in FY24. The operating profit for FY24 was Rs 661 crore, with a net profit of Rs 495 crore, compared to a net profit of Rs 571 crore in FY23.

According to the company's shareholding pattern, the promoters hold a significant 72.20 per cent stake. Public investors own 13.50 per cent of the shares, while foreign institutional investors (FIIs) hold 3.50 per cent and Domestic Institutional Investors (DIIs) own 10.78  per cent.

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Investors must keep this stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.