Shares of RITES Ltd fell 1% on 31st July after touching a day’s high of Rs 258.70, despite the company announcing that it had signed a memorandum of understanding (MoU) with NABCONS, the consultancy arm of NABARD, to jointly promote infrastructure and rural development across India and abroad.

RITES and NABCONS have formed a strategic alliance, combining RITES’ expertise in engineering and urban transport planning with NABCONS’ strengths in agriculture, natural resource management, and rural development.

This partnership will focus on integrated solutions in rural infrastructure, agri-logistics, climate-resilient development, sustainable mobility, and smart cities. They will also collaborate on capacity building, digital public infrastructure, AI- and IT-enabled services, and third-party inspections.

Other areas include water and irrigation systems, as well as global projects supported by multilateral development banks and international agencies. The MoU aims to drive inclusive and future-ready growth by leveraging the strengths of both firms.

RITES Q4 Results:

RITES reported a 3.4% YoY rise in net profit to Rs 141 crore, while revenue fell 4.3% to Rs 615 crore. EBITDA grew 5.4% to Rs 185.5 crore, with margins improving by 564 basis points to 30%, reflecting better efficiency. The board also declared a final dividend of Rs 2.65 per share for FY25.

At 9:48 AM, the shares of RITES were trading 1.21% lower at Rs 257.40 on NSE.

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