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Titagarh Wagons wins approval to participate in Mumbai Metro rail project

Updated : July 25, 2018 12:51:10 IST

Shares in rail-related stocks such as Titagarh Wagons rallied nearly 20 percent on Tuesday.

According to a PTI report, the railway is looking at 4,000 km of track renewal in each of the next two financial years --2018-19 and 2019-20. Its estimated cost for 2018-19 is a little above Rs 100 billion.

JP Chowdhary, executive chairman of Titagarh Wagons spoke to CNBC-TV18 about the projects pipeline.

“There is a tender which is due to be opened in couple of weeks’ time and 21,000 is the quantity there. We are likely to get our portion of this business which is normally between the two companies that we have is about 25 percent of the business and that’s must be the buzz about,” said Chowdhary.

Talking about the revenue growth, he said, “This itself will be prolonged delivery but the value of this business should be around Rs 1,200 crore or so.”

On the order front, Chowdhary said, “In December we got an order of 10,000 wagons for the industry and now 21,000 wagons are in the pipeline. There is an order for Container Corporation of India; private orders are coming in a good way. We are also entering export market with the help of our French subsidiary.”

“We have been approved for the participation in the metro and we will be quoting for Mumbai Metro business that is forthcoming,” he added.
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