Titagarh Rail Systems has received a Letter of Intent for a significant contract valued at ₹44.41 crore, inclusive of GST, from Balmer Lawrie & Co. Ltd. The contract involves providing two BFNS 22.9T rakes on an operating lease basis for the Indian Railways network over a period of ten years.
The Letter of Intent, dated 24th March 2026, marks the first successful contract under Titagarh’s Wagon Leasing Business, following a wagon leasing licence agreement signed with Indian Railways on 9th February 2026. This contract signifies a key milestone for Titagarh in expanding its leasing operations within the domestic market.
The contract specifies the provision of two BFNS22.9 rakes, each comprising 43 wagons plus 4% spare wagons, with a carrying capacity of 64.89 metric tonnes. These rakes will be used to transport HR coils, sheets, and plates, adhering to the latest approved drawings of the Research Designs and Standards Organisation (RDSO).
The effective date of the contract is set for 7th April 2026, which will commence 15 days from the issuance of the Letter of Award or upon signing the contract agreement, whichever occurs first. The contract does not involve any related party transactions, and there is no interest from the promoter or promoter group companies in the entity awarding the contract.
This development is a significant step for Titagarh Rail Systems as it continues to strengthen its presence and capabilities in the rail sector, particularly in the area of wagon leasing.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).