Rs 1,000 crore + order book: This multibagger AI-technology company secures Rs 200 crore order; Set to pay Rs 2.5/share dividend soon!
Technology stock with 203 per cent return in 12 months secures landmark order from one of India's largest municipal corporations.
Aurionpro Solutions Limited announced in an exchange filing that it has secured a significant order from the Municipal Corporation of Panvel, Maharashtra, as part of the Panvel Safe City initiative. Appointed as the Technology Partner, Aurionpro will oversee the installation of advanced surveillance and smart city technologies to enhance the city's safety and security infrastructure.
The Panvel Municipal Corporation (PMC) now manages an expanded jurisdiction of 110 square kilometers after taking over civic infrastructure from CIDCO. The five-year contract is valued at over Rs 200 crore. The initial phase will be implemented within the next 12 months, followed by long-term maintenance and support.
The project's scope includes setting up Data Centers, Control Command Centers, and Video Analytics to enable real-time monitoring and faster response times. The project will also incorporate AI-powered technologies like Facial Recognition, an IP-based Public Announcement system, Automatic Number Plate Recognition (ANPR) and an e-Challan system.
This is one of Aurionpro’s largest order wins in this segment. According to the company's Q1FY25 earnings, its order book exceeds Rs 1,000 crore. With the government promoting digitization across departments, the company’s data center segment is expected to witness a strong inflow of orders, boosting long-term revenue visibility. This robust order book provides revenue visibility for the coming years.
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Aurionpro reported a revenue of Rs 262 crore, up 31.6 per cent YoY, and a net profit of Rs 45 crore, up 40.6 per cent YoY, for the quarter ended June 2024. With steady order inflows, the growth momentum is expected to continue.
The record date for the company's final dividend of Rs 2.50 per share for FY24 is Friday, September 20, 2024. Shareholders holding shares on this date will be eligible for the dividend.
Aurionpro Solutions Limited is a leading provider of advanced technology solutions, focusing on sectors like Banking, Mobility, Payments, Insurance, and Government. The stock trades at Rs 1,820, with a market capitalization of over Rs 10,000 crore. Year-to-date in 2024, the stock has gained over 63 per cent, while it has rallied 203 per cent in the past 12 months.
Disclaimer: This article is for informational purposes only and should not be considered investment advice.