Rs 750 crore order book: IT software company receives order worth Rs 29,20,00,000 from City And Industrial Development Corporation of Maharashtra Ltd (CIDCO)

The company has a market cap of over Rs 1,190 crore with multibagger returns of 240 per cent in just 1 year and a whopping 930 per cent in 5 years.

Ceinsys Tech Limited has secured a significant contract from the City and Industrial Development Corporation of Maharashtra Limited (CIDCO) to implement an integrated GIS enterprise. Valued at Rs 29.2 crore, the project encompasses various aspects including drone surveys, base map creation, enterprise GIS development, COTS supply, and operation and maintenance for a period of two years. This contract highlights Ceinsys Tech's expertise in GIS solutions and its ability to deliver comprehensive services to large-scale organizations like CIDCO.

The contract with CIDCO is a domestic project, awarded to a local Indian entity. The project is expected to be completed within 36 months, including the operation and maintenance phase. The contract's scope aligns with CIDCO's requirements for a robust GIS system to support its urban development initiatives. Ceinsys Tech's involvement in this project further solidifies its position as a leading provider of GIS solutions in the Indian market.

Ceinsys Tech Ltd is a 1998-founded enterprise specializing in geospatial and engineering services, software, and energy solutions. As an ISO and CMMI-certified company, it's part of the Meghe Group. Its core competencies include designing, managing and analysing geographic data, with a focus on energy systems, water management, product design and robotics. Ceinsys offers a range of services encompassing geospatial solutions like risk analytics, smart city planning and disaster management; as well as mobility solutions spanning from concept development to manufacturing engineering and electric vehicle technology.

The order book of the company as of June 30, 2024, stands at Rs 750 crore with a bid book pipeline of over Rs 200 crore. The stock’s 52-week high is Rs 765 and its 52-week low is Rs 210. The company has a market cap of over Rs 1,190 crore with multibagger returns of 240 per cent in just 1 year and a whopping 930 per cent in 5 years. Investors should keep an eye on this IT-software company’s stock.

Disclaimer: The article is for informational purposes only and not investment advice.