RITES bags ₹148 crore project management contract for IIM Raipur campus
The shares of RITES Limited were trading at ₹296.80 up by ₹9.40 or 3.27 per cent on the NSE today at 11.13 am.
RITES Limited, a prominent infrastructure consulting firm, has secured a significant project management consultancy (PMC) contract from the Indian Institute of Management (IIM) Raipur for the development of its Phase II campus, the company disclosed in a stock exchange filing on December 5, 2024.
The contract, valued at ₹148.25 crore excluding GST, involves comprehensive execution, supervision, monitoring, and development of the IIM Raipur campus expansion project in Chhattisgarh. The project is scheduled to be completed within 23 months on a cost-plus basis.
RITES will provide end-to-end project management services for campus development. The contract is entirely domestic and does not involve any related party transactions. This order reinforces RITES’ position as a key player in infrastructure consulting and project management services across India.
The appointment underscores RITES’ continuing role in institutional infrastructure development, particularly in the education sector. The company will oversee all aspects of the campus expansion, ensuring technical and operational efficiency throughout the project lifecycle.
