The civil construction company said that the contract agreements are subject to approval of funding by funding agency.
RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2023, the Government of India held 72.2% stake in the company.
The company's consolidated net profit fell 3.5% to Rs 132.01 crore in Q4 FY23 on 10.3% decline in net sales to Rs 686.81 crore in Q4 FY23 over Q4 FY22.
