Rahul Mithal, CMD, Rail India Technical and Economic Service (RITES), on Wednesday, said that the company is targeting a growth of 10 percent in FY23. He further highlighted that they are seeing growth in metro cities and are currently involved in 11 to 12 states. He shared that the company is planning to go back to pre-pandemic revenue levels in the current financial year itself.

"I see growth in a lot of areas especially in metros, so we are doing about 11-12 states, metros in India. So I see a lot of growth in our order book and our topline and bottomline in these areas, besides our conventional areas."

"After the Q2 results, our benchmark is 2019-2020 levels, and with the trend of Q3 this year, we are aiming and remain quite confident that we should be able to reach the 2019-2020 levels in this financial year. Having reached that and with an order book of Rs 5,100 crore, we are quite confident of a normal growth of 10 percent at least in FY23 and I'm sure by the time the export orders mature by the latter part of FY22-FY23, this figure would tend to grow," he explained.

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He believes growth in turnkey projects and exports will continue, going ahead. He shared that the company has already done exports of around Rs 700 crore in 9MFY22. Additionally, he affirmed that the company currently boasts of an orderbook to the tune of Rs 5,100 crore.

"Our growth in our traditional areas of turnkey projects and exports would remain. The exports have shown a very encouraging trend and the trend has been maintained since Q2FY22. Cumulatively, we have done Rs 700 crore in these nine months and we have a balance of Rs 675 crore in our order book. In Q4 also, we should be able to maintain this trend. This Rs 5,100 crore is the confirmed orderbook that we have," he said.

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