RITES order book has reached ₹9,450 crore, with the company remaining on track to pursue its ₹10,000 crore target despite planned execution during FY27, management said in a conference-call transcript filed with BSE on August 11, 2026. The call, held on August 5, discussed RITES Ltd's unaudited financial results for the quarter ended June 30, 2026.

Management said RITES secured 128 orders totalling ₹670 crore during the quarter, maintaining a pace of nearly 1.4 orders a day. About 70% of these fresh orders were won through competitive bidding. The company said its first-quarter revenue grew about 9-10% year-on-year, while the bottom line increased around 8%.

Exports expected to contribute ₹300 crore-plus

RITES expects export revenue of at least ₹300 crore in FY27. Its combined overseas rolling-stock export and foreign consultancy order book stood at ₹2,100 crore as of June 30, including ₹1,775 crore of rolling-stock exports.

  • About ₹900 crore relates to the Bangladesh order for 200 coaches.
  • The first 20-coach rake was in the final stages of dispatch and its revenue was expected to be recognised in the second quarter.
  • Management expects the Bangladesh order to be completed in the next financial year.
  • RITES is seeking to begin deliveries under the Mozambique locomotive order by the end of FY27, although clearer visibility is expected by the end of the second quarter.

The company said overseas business could account for roughly 15% of total revenue during the current financial year. It is also targeting one export order per quarter and has bid for opportunities involving locomotives, coaches and diesel multiple units.

Management retains margin thresholds

Turnkey projects constitute about half of the order book and contributed roughly 30-33% of first-quarter revenue. Management said these projects generally carry margins of around 1.5-2%, partly because the full project value passes through revenue, unlike consultancy assignments where only the fee is booked.

RITES retained its consolidated annual thresholds of at least 20% EBITDA margin and 15% PAT margin. It reported consolidated EBITDA and PAT margins of about 22% and 17%, respectively, for the quarter. Management identified competitive pricing, travel costs and an impending pay revision as pressures on profitability.

The company also reiterated its aim for double-digit revenue growth during FY27, supported by faster sequential execution, while cautioning that forward-looking statements remain subject to business and regulatory risks.

Source: BSE corporate announcement.