RITES Partners with Etihad Rail to Enhance Mobility in the UAE

A significant milestone was achieved by RITES Limited, a state-owned engineering firm, as it announced a new memorandum of understanding (MoU) with Etihad Rail and its affiliate, the National Infrastructure Construction Company (NICC) LLC. This agreement, established on September 30, focuses on enhancing business collaboration in the mobility sector within the UAE and beyond.
The MoU was formalized by H.E. Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Director of RITES Ltd. Notable attendees included His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, and H.E. Sunjay Sudhir, the Indian Ambassador to the UAE. This event took place during the Global Rail Transport Infrastructure Exhibition & Conference held in Abu Dhabi.
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This partnership is poised to merge RITES’ extensive 50 years of expertise in consultancy, transport infrastructure, and engineering solutions with NICC’s execution capabilities. Together, they aim to create synergies for infrastructure projects throughout the region.

First Quarter Results
RITES has reported a slight increase in net profit for the period, rising 0.7% year-on-year to ₹91 crore. Revenue for the same quarter grew by 0.8% compared to last year, totaling ₹489.7 crore, up from ₹485.8 crore in the previous year.
The company’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) increased by 7.8% year-on-year to ₹114 crore, with margins expanding by 150 basis points from the previous year to reach 23.3%.
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In addition, RITES declared its first interim dividend for the financial year 2025-26, set at ₹1.30 per share. The record date for this dividend distribution has been established as August 12, 2025.
At the close of trading, RITES Ltd shares were priced at ₹246.05, reflecting a decrease of ₹2.20 or 0.89% on the BSE.