The British company said the contract was issued by prime contractor General Dynamics Land Systems-Force Protection Europe.
Ricardo has been assembling Foxhounds at purpose-designed production line since 2011.
The order brings to 376 the number of Foxhounds ordered by the Ministry of Defense.
"The Foxhound is exactly the right vehicle for British forces, providing what commanders on the ground in Afghanistan are describing as 'an enormous leap forward' in capability," said Ricardo Chief Executive Officer Dave Shemmans. "This highly impressive vehicle that has the potential to save many lives, has resulted from our very successful sub-contract with prime contractor General Dynamics.
"Ricardo is proud to have assembled all of the Foxhounds ordered for British forces by the MoD."