RITES Bags ₹175.41 Crore Project From Babasaheb Ambedkar University, Order Boosts Consultancy Portfolio
A significant contract for project management consultancy has been awarded to RITES, a government-owned engineering consultancy company. The deal, valued at approximately Rs 175.41 crore, is for infrastructure development at Babasaheb Bhimrao Ambedkar University (BBAU).
A significant contract for project management consultancy has been awarded to RITES. |
Mumbai: RITES Ltd, a public sector enterprise, announced on Monday that it has secured a major order worth approximately Rs 175.41 crore from Babasaheb Bhimrao Ambedkar University (BBAU).
Project Details
The contract involves providing Project Management Consultancy (PMC) services for the planning, design, and development of infrastructural facilities and other related works within the BBAU campus. The services will be delivered on a Cost Plus PMC Fee basis.
Execution Timeline
RITES is expected to complete the initial work within 30 months. The overall execution period extends until the completion of the allotted work, whichever is later, from the date of signing the agreement.
Financial Scope
The total project cost is approximately Rs 175.41 crore, excluding GST. This figure includes RITES' fees for its consultancy services.
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Domestic Entity
The order was awarded by a domestic entity, Babasaheb Bhimrao Ambedkar University.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
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