Ceinsys Tech Limited, a prominent technology solutions provider, has announced the receipt of a significant Letter of Award (LoA) from the Mumbai Metropolitan Region Development Authority (MMRDA). This award, valued at ₹114.98 crore (excluding GST), involves the selection of Ceinsys as the System Integrator (SI) for monitoring infrastructure projects using IDDP (Infrastructure Data-Driven Platform).
The intimation was made to BSE under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements.
The Letter of Award pertains to a domestic contract awarded by MMRDA. The scope includes the complete implementation of a system to monitor various infrastructure projects under MMRDA’s purview. As part of the terms, Ceinsys will be responsible for the implementation over a one-year period, followed by three years of operations and maintenance, totalling a project span of 4 years.
The total consideration for the project stands at ₹1,14,98,66,659, excluding applicable taxes. The contract strictly involves monitoring activities using the IDDP framework, with no promoter or group company interests involved. Additionally, the transaction does not fall under related party arrangements, and hence, the issue of arm’s length does not arise.
In the fourth quarter ending March 2025, the company reported a near-doubling of its consolidated net profit, which surged 88.37% to ₹21.87 crore, up from ₹11.61 crore in the prior year's comparable quarter. This impressive performance was complemented by an 81.92% year-over-year increase in revenue, hitting ₹142.39 crore.
Ceinsys Tech, a Nagpur-based Meghe group company, offers diverse technology solutions designed to empower businesses. Their services encompass geospatial engineering, mobility engineering, and robust enterprise solutions. The company structures its operations into three key areas: enterprise geospatial & engineering services (EGES), software products, and power generation.
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As of July 8, 2025, at 3:10 PM, Ceinsys Tech share price is trading at ₹1,494, reflecting a surge of 0.44% from the previous day's closing price.
This prestigious contract highlights Ceinsys Tech’s growing presence in the public infrastructure technology space and reinforces its capability to implement large-scale digital monitoring systems. The long-term nature of the project indicates a sustained collaboration with MMRDA and underlines the increasing importance of tech-driven infrastructure governance in India.
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Published on: Jul 8, 2025, 4:02 PM IST
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