RITES Ltd Secures Rs 373 Crore PMC Order from NIMHANS
Filing Summary
RITES Ltd has secured a Letter of Award from the National Institute of Mental Health & Neuro Sciences (NIMHANS). The contract is valued at approximately Rs 373 crore, exclusive of GST. The order involves providing Project Management Consultancy (PMC) services for the construction of a new Outpatient Department (OPD) building at the NIMHANS campus in Bangalore. The project will be executed on a turnkey basis over a period of 36 months. The filing confirms this is a domestic contract and not a related party transaction.
RITES Ltd announced it has received a Letter of Award from the National Institute of Mental Health & Neuro Sciences (NIMHANS). The company made the disclosure to the stock exchanges on November 03, 2025, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The broad consideration for the contract is approximately Rs 373 crore. This amount is exclusive of Goods and Services Tax (GST) and is inclusive of the Project Management Consultancy (PMC) Fee.
The order is for providing PMC services for the construction of a new Outpatient Department (OPD) building. The project will be located at the NIMHANS campus in Bangalore and is to be undertaken on a turnkey basis. The contract was awarded by a domestic entity for execution within India.
The time period specified for the execution of the order is 36 months. The filing stated that the transaction does not fall within the category of related party transactions. It also confirmed that the promoter, promoter group, or group companies of RITES Ltd have no interest in the entity that awarded the contract.
The National Institute of Mental Health & Neuro Sciences is an institution for patient care and academic pursuit in the field of mental health and neurosciences. The institute focuses on service delivery, manpower development, and research in its designated areas.
RITES Ltd is a public sector enterprise and engineering consultancy company. The company specializes in the field of transport infrastructure. It provides a range of services and is involved in projects for railways, highways, urban engineering, and airports.