Deals19 Jul 2025, 08:24 pm
RITES Ltd Secures Major Order from IIM Raipur with Revised Project Cost of Rs. 220.65 Crore
AI Summary
RITES Ltd has received a letter from Indian Institute of Management, Raipur, revising the estimated project cost for the construction of academic and hostel blocks, dining block, and auditorium block, and its associated services under EPC mode-III of contract under phase-II at IIM Raipur. The revised project cost is Rs. 220.65 Crore, excluding GST, on a cost-plus basis, including PMC fee. The order is domestic, to be executed in 23 months from the date of the agreement. This is not a related party transaction.
Key Highlights
- RITES Ltd secures a major order from IIM Raipur for the construction of academic and hostel blocks, dining block, and auditorium block.
- The estimated project cost has been revised to Rs. 220.65 Crore, excluding GST, on a cost-plus basis, including PMC fee.
- The project is to be executed in 23 months from the date of agreement.
- The order is a domestic one.
- The transaction is not a related party transaction.