The company had received letter of acceptance (LoA) from the Ministry of Railways for the aforementioned projects on 6 August 2021. Total award value for all the projects was Rs 4027.99 crore.

RITES is a miniratna (category – I) schedule 'A' public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2021, the Government of India held 72.2% stake in the company.

RITES' consolidated net profit rose 30.41% to Rs 168.97 crore on a 72.06% increase in net sales to Rs 755.18 crore in Q2 FY22 over Q2 FY21.

Shares of RITES shed 0.83% to currently trade at Rs 274.50 on the BSE.