RITES has revised the cost of its Bidar-Kalaburagi railway electrification consultancy project in Karnataka to ₹154.65 crore from ₹97.96 crore.

The project involves Project Management Consultancy services for electrifying the Bidar-Kalaburagi, also known as Gulbarga, railway section. It covers a stretch of about 110 route kilometres and was originally awarded by South Central Railway.

The work is structured on a cost-plus turnkey basis, and the revised figure includes RITES’ own consultancy fees, not just the underlying project cost. This isn’t a new contract.

RITES first disclosed this order back in September 2020, and the company has now updated the exchanges on how much the project is actually worth as work continues on the ground. The increase amounts to roughly ₹56.69 crore over the original value.

Since both RITES and South Central Railway are government entities, the company has clarified that this update does not count as a related-party transaction under SEBI’s disclosure norms.

This update comes at a time when RITES has been building up a fairly large pipeline of work.

The company recently reported a record order book of ₹9,450 crore, and its Chairman and Managing Director, Rahul Mithal, said earlier this month that the company has kept up a pace of roughly one new order a day, including 128 orders in the latest quarter alone.

He also said the order book could cross ₹10,000 crore in the coming quarters. On the financial side, RITES started FY27 on a fairly steady footing.

Revenue for the June quarter rose 8.6% year on year to ₹532 crore, while net profit grew 7.7% to ₹98 crore.

Operating margins, however, moderated slightly to 21.5% from 23.4% in the same quarter last year, as EBITDA stayed largely flat at ₹114 crore.

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