The order value for said project is approximately worth Rs 857 crore. The execution of the contract is slated to commence 76 weeks after the signing the contract and is expected to be completed in 132 weeks thereafter.

The Surat Metro Rail Project encompasses two corridors spanning a total of 40.45 kilometres with 38 stations and an estimated cost of Rs 12,020 crore.

Senior management at TRSL conveyed that: "We are proud to announce that these metro cars will be manufactured at our cutting-edge facility in Utarpara, located in the Hooghly district of West Bengal, India. TRSL has decided to expand its capacities at a capex of about Rs 650 crore in the next couple of years, a large sum of which is already invested and bearing fruit. Titagarh has already received letter of acceptance for 30 nos. of standard gauge cars for the Phase II of the Ahmedabad Metro Rail Project. This demonstrates the capability of TRSL in Metro Rail space and affirms the company's prominent position in both the freight rail and passenger rail systems industry in India."

Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches.

The company reported a standalone net profit of Rs 67.57 crore in Q1 FY24, steeply higher than Rs 23.02 crore posted in Q1 FY23. Revenue from operations zoomed 110% to Rs 910.76 crore in the Q1 FY24 from Rs 433.71 crore recorded in the corresponding quarter previous year.