Titagarh Rail Systems bags Rs 350-crore contract for Ahmedabad Metro Rail Phase-II Project

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Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches. The company recently received a letter of acceptance (LOA) from Gujarat Metro Rail Corporation (GMRC) for the design, manufacture, supply, testing, commissioning and training of 30 nos. of standard gauge cars for Ahmedabad Metro Rail Phase-II Project. The value of the order is approximately Rs 350 crore.
The prototype has to be delivered within 70 weeks from LOA and delivery completion is 94 weeks from LOA.

Titagarh Rail Systems has been involved in several other Metro rail projects in the country. The Kolkata-based company recently received a contract to supply 24 Metro trains for Phase-I of Surat Metro at a contract value of around Rs 850 crore from Gujarat Metro Rail Corporation (GMRC).

The Ahmedabad Metro Rail Phase-II project is being implemented by GMRC at a cost of Rs 13,500 crore. The project will add 28.2 km of Metro lines to the city’s existing network.

Titagarh Rail Systems reported a standalone net profit of Rs 67.57 crore in Q1 FY24, steeply higher than Rs 23.02 crore posted in Q1 FY23. Revenue from operations zoomed 110% to Rs 910.76 crore in the Q1 FY24 from Rs 433.71 crore recorded in the corresponding quarter previous year.

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