0

0

0

0

0

0

0

0

0

earnings | IST

RITES Q2: Exports orderbook stands at Rs 1000 crore; revenue realisation to start in Q3

Mini

RITES have an exports orderbook of Rs 1,000 crore, Rahul Mithal, chairman and managing director, told CNBC-TV18.

The engineering services company Rail India Technical and Economic Service’s (RITES’) chairman and managing director Rahul Mithal on Friday said the company has an exports orderbook of Rs 1,000 crore.
His remarks come a day after the government-owned engineering and construction company reported strong earnings for the September-ended quarter. The order execution aided the numbers.
Mithal said that revenue realisation of the company’s exports will start in Q3. “Even phase one of our turnkey projects culminated in Q1, the phase two of many turnkey projects, of which we got recent orders, their revenue realisations will start in Q3-Q4. So by end of Q3, we would be around 60-70 percent of our target,” Mithal said.
He said the company has an exports orderbook of Rs 1,000 crore and in Q3 and Q4, the firm aims realisation about 70 percent of the total orderbook in the financial year FY22. “We are working on more orders so that by the time these orders finish by the middle of next financial years, we should have more orders in place,” Mithal said.
For the entire interview, watch the video