Expanding Exports as a Strategic Pillar: RITES' Order Book Surges to ₹1,400 Crores, Focusing on Execution and New Markets
RITES Ltd Steps Up Export Strategy, Secures Key International Orders
RITES Ltd, a leading transport infrastructure company, is making significant strides in its export strategy, focusing on executing a substantial order book in key international markets. The company's current export order book stands at approximately ₹1,388 crore (around $170 million USD), a testament to its success in Africa, the Middle East, and Latin America.
The company's recent achievements include the shipment of the first two locomotives to Mozambique in early July 2025, marking the start of export order execution [1]. In Q1 FY26, RITES secured over ₹31 crore in new export orders, contributing to the growing export order book [3]. Revenues from exports are expected to increase significantly during the second half of FY26 following these deliveries [2][3].
Despite global competitive bidding pressures that have lowered export order margins to double digits, RITES' export contracts remain profitable and strategically important [4]. The company's strategy integrates leveraging its core competencies in transport infrastructure consultancy and engineering, with a strong focus on rapid execution of export orders in international markets.
RITES' order book exceeds ₹8,700 crore, with over 30% from high-margin consultancy orders, providing sustainable growth and revenue visibility for the next 2 to 2.5 years [1][2][3]. The company is targeting a total order book of ₹10,000 crore by the end of FY26.
In addition to its export strategy, RITES is also working on a digital platform called MAITRI for seamless customs and trade document exchange as part of the India-Middle East-Europe Corridor (IMEC) pilot. Development work for MAITRI is underway, with a rollout expected in the coming months. MAITRI, dubbed a "multi-plug adapter" for disparate logistics data exchange systems, is a significant step towards digitalising trade and customs processes [5].
RITES is also executing existing orders from Mozambique (₹300 crore) and Bangladesh (₹900 crore). The Bangladesh contract includes 200 coaches of seven different designs, and prototypes for four coach variants are expected to be ready by year-end. RITES is also converting in-service diesel locomotives to cape-gauge for four clients in South Africa [6].
The company has strategic MoUs with Etihad Rail, DP World, and AD Ports in the Middle East, and it is focusing on market expansion across Africa, the Middle East, and Latin America. RITES has recently secured a consultancy project in Jordan [7].
Under its "Operation Tattva" initiative, RITES is aiming for steady international momentum and accelerated project delivery. The IMEC project is being led by the Ministry of Shipping. Rahul Mithal is the Chairman and Managing Director of RITES Ltd.
Sources:
[1] Business Standard: RITES Ltd targets ₹10,000 crore order book by FY26 [2] Financial Express: RITES Ltd's FY26 order book at ₹8,800 crore, eyes substantial revenue push from exports, turnkey projects [3] The Economic Times: RITES Ltd's export order book at ₹1,400 crore, up 17% from last year [4] Livemint: RITES Ltd's export order margins fall to double digits, but remain profitable [5] Business Today: RITES to develop digital platform MAITRI for seamless customs and trade document exchange [6] The Hindu BusinessLine: RITES Ltd dispatches first batch of locomotives to Mozambique, working on mega coach order for Bangladesh Railways [7] Moneycontrol: RITES Ltd secures consultancy project in Jordan, eyes growth in Middle East market
- RITES Ltd, a prominent player in the transport infrastructure industry, has set a target to reach an order book of ₹10,000 crore by the end of FY26, as part of its extensive export strategy.
- The company's decision to focus on executing export orders in key international markets has significantly increased its order book, which currently stands at approximately ₹1,388 crore.
- In the digital sphere, RITES is developing a platform called MAITRI for seamless customs and trade document exchange, as part of the India-Middle East-Europe Corridor (IMEC) pilot, aiming to digitalize trade and customs processes.
- Despite competitive bidding pressures reducing export order margins to double digits, RITES' export contracts remain profitable and strategically important for the company.
- The company's success in securing key international orders, such as the two locomotives shipped to Mozambique, has contributed to increased revenues from exports, with significant growth expected during the second half of FY26.
