Titagarh Rail Systems Ltd. (TRSL) has clinched a significant ₹430.53 crore contract from the Maharashtra Metro Rail Corporation Limited (MMRCL) for the supply of 12 additional trainsets for the Pune Metro Rail Project. The order marks a strategic expansion of TRSL’s footprint in India’s urban transit sector and reinforces its position as a leading rolling stock manufacturer.
🚆 Contract Scope and Execution Timeline
According to the official exchange filing, the contract includes:
- Design, manufacture, supply, testing, and commissioning of passenger rolling stock (electrical multiple units)
- Training of personnel for operations and maintenance
- Completion timeline: 30 months
This order is a quantity variation under the existing contract P1/RS-01/2018, reflecting MMRCL’s confidence in Titagarh’s performance and delivery capabilities.
🏗️ Pune Metro Phase 2 Expansion
The announcement follows the Union Cabinet’s approval of Pune Metro Phase 2, with a total outlay of ₹3,626 crore. The expansion includes:
- Two elevated corridors:
- Vanaz to Chandani Chowk
- Ramwadi to Wagholi
- 13 new stations across 12.75 km
- Completion target: 4 years
The extension aligns with Pune’s Comprehensive Mobility Plan, aiming to enhance East–West mass transit connectivity.
📈 Market Impact and Analyst Outlook
- TRSL shares closed at ₹936.35 on the NSE, down 0.26%
- Despite a 49.65% drop over the past year, analysts remain optimistic
- 8 out of 9 analysts tracking the stock have a ‘Buy’ rating, with a projected 20.1% upside over the next 12 months
🛤️ Titagarh’s Growing Metro Portfolio
This contract adds to Titagarh’s expanding metro rail portfolio, which includes:
- Surat Metro: 72 coaches
- Ahmedabad Metro: 30 coaches
- Pune Metro (Phase 1): 102 coaches
The company’s JV with Titagarh Firema S.p.A has also played a key role in securing and executing these orders.
Stay tuned for updates on India’s metro infrastructure growth.
