The tender is for the appointment of a Third-Party Inspection (TPI) agency for Water Supply, Underground Drainage, and Sewage Treatment Plant (WSS/UGD/STP) projects under the Amrut 2.0/SJMMSVY schemes, managed by GUDC for Urban Local Bodies (ULBs) of Gujarat.
This project is slated for completion within 60 months from the date of the letter of award (LoA) or Notice to Proceed (NTP).
“The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company Limited as per the requisite requirements mentioned in the tender documents,” RITES said in a statement.
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 2025, the Government of India held 72.20% stake in the company.
The company’s consolidated net profit jumped 29.19% to Rs 141.33 crore in Q4 FY25 as against Rs 109.39 crore posted in Q3 FY25. Revenue from operations rose 6.89% to Rs 615.43 crore in the quarter ended 31 March 2025 from Rs 575.76 crore posted in Q3 FY25.
The scrip rose 0.91% to currently trade at Rs 281.70 on the BSE.