Rs 900 crore orderbook: This multibagger IT-software company receives new orders worth Rs 100,00,00,000 from Government of Haryana!
This small-cap company with market cap of Rs 5,580 has given multibagger returns of whopping 552.04 per cent in a year.
Aurionpro Solutions Ltd Secured Major Order from the Government of Haryana for the issuance of open loop NCMC cards to provide free travel for the families Below Poverty Line on March 5, 2024.
The stock price soared 4.24 per cent to the day high of Rs 2269 with the announcement. The goal of this ground-breaking project is to give free public transportation to anybody in the state who is below the poverty threshold. The National Common Mobility Cards (NCMC) that are available for free and open-loop will allow qualified persons to travel up to 1000 kilometers annually for each member of their covered family.
It is a privilege to have Aurionpro handle the execution of this important project, which entails gradually issuing open loop NCMC cards to all those who fall under the coverage. As the technology partner for this initiative, Aurionpro, a well-known supplier of open-loop technology solutions, will collaborate with AU Small Finance Bank as the banking partner for card issuance.
This large-scale, multi-year project, which is estimated to be worth about Rs 100 crores, is expected to be completed in six months, with maintenance services to come after.
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Management Commentary
Mr. Sanjay Bali, President – Technology Innovation Group, Aurionpro said “We express our gratitude to the Government of Haryana for selecting Aurionpro as their partner and entrusting us with the opportunity to drive forward this initiative focused on fostering smart and sustainable transportation accessible and affordable to all citizens. Under this scheme, Aurionpro is set to issue 5 million open-loop cards in the initial phase, that could firmly establish our position as one of India's foremost providers of open-loop NCMC cards. We anticipate that this pioneering project will serve as a model for other state governments, further establishing our reputation as the preferred partner for the governments in the smart transit space.”
This Small-Cap company with market cap of Rs 5,580 has given multibagger returns of whopping 552.04 per cent in a year. The company is expected to report good Quarterly Results in Q4 FY24. The current dividend payout ratio stands at 5.86 per cent
Aurionpro Solutions Ltdd (NSE: AURIONPRO) (BSE: 532668) is an advanced technology solutions company catering to the needs of the Banking, Mobility, Payments, and Government sectors. It converges multiple technology solutions under a single umbrella – Advanced and Accelerated Platform-led Transformation (ADAPT) to the ‘New Digital World’. Headquartered in Mumbai, India, the company serves globally with the expertise and commitment of 2300+ passionate people supporting its journey.
Disclaimer: The article is for informational purposes only and not investment advice.