RITES has seen a solid uptick in orders in February so far. On February 17, the company won an EPC order worth Rs 76 crore for signaling and track circuiting on North Central Railway.

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Prior to that on February 11, the company won a Rs 65 crore order from the Ministry of Railways again for Maneswar. On the same day they also won an order from Rajastan worth Rs 148 crore and at the beginning of the month they formed a joint venture in Israel.

Speaking to CNBC-TV18, Rahul Mithal, Chairman and MD of RITES said that the order inflow trend in the last few has been strong

“Quarter three itself we got 65 orders totaling to about Rs 1,200 crore. Our order book on December 31 was Rs 5,500 crore which was 10 percent higher than September 30 and this trend has continued in the last month or so, in January and February.” he said.

Mithal said they are tapping all the sectors and expect this trend to continue. their key strength is doing consultancy across all the sectors of infra.

“We are tapping all the sectors and our key strength is that we do consultancy across all the sectors of infra, so whether it is rail infra, metros, Jal Jeevan Mission. So, we are getting orders across these and moving forward I expect this trend to continue.” he added

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Talking about JV with Israel Mithal said, “This is Israeli Metro consultancy contract which we formed the tripartite JV with DMRC and Israeli right now. We have been shortlisted in the RFP as and when the details of the orders and in case we win it, we will inform you the details but right now, these are earlier early days.”

Talking about revenue Mithal said core EBITDA margin has gone up to 23 percent from 26 percent.

“If you compare our consultancy revenue year-on-year, that has gone up by 16 percent, our leasing revenue has gone up by 10 percent. Our turnkey revenue which is the third stream of revenue has gone up 115 percent. So, even though the top line has gone down because of dip in one stream of revenue, or core EBITDA margin, which is our main focus has gone up from 23 percent to 26 percent.” he said.

For full interview, watch accompanying video

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