Ashoka Buildcon Consortium Secures Modernization Project in Maharashtra
Filing Summary
Ashoka Buildcon Limited, in consortium with Railtel Corporation of India Limited, has received a Letter of Intent for a project from the Inspector General of Registration and Controller of Stamps, Maharashtra State, Pune. The project involves modernization of offices under the government of Maharashtra. The contract is valued at approximately Rs.1136 Crores over five years, based on an average of 9.18 Crore pages scanned annually. The project is set to be completed by March 19, 2032. The trading window for designated persons will remain closed until 48 hours after disclosure.
Ashoka Buildcon Limited, in collaboration with Railtel Corporation of India Limited, has announced the receipt of a Letter of Intent for a project awarded by the Inspector General of Registration and Controller of Stamps, Maharashtra State, Pune. The project involves the selection of a managed service provider for the modernization of offices under the government of Maharashtra. This development was disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The financial terms of the project specify an accepted rate of Rs.24.75 per page, referring to a scanned single side page of a registered document. The project is expected to involve the scanning of approximately 9.18 Crore pages annually, leading to an estimated financial impact of Rs.1136 Crores over the five-year contract period. However, the actual figures may vary as the consideration value is not explicitly stated in the Letter of Intent.
The scope of the project includes the end-to-end modernization, operation, and maintenance of IT, network, cloud, and application infrastructure for the Office of Inspector General of Registration, Maharashtra. The project will be executed on a turnkey basis, ensuring comprehensive service delivery for a period of five years. The modernization efforts aim to enhance the operational efficiency of the offices under the Inspector General of Registration and Controller of Stamps.
The project is a domestic contract awarded by a domestic entity, the Inspector General of Registration and Controller of Stamps, Maharashtra State, Pune. The contract does not involve any related party transactions, and there is no interest from the promoter or promoter group in the entity awarding the contract. The trading window for designated persons and their immediate relatives will remain closed until 48 hours after the disclosure of this information.
The project is scheduled to be completed by March 19, 2032. The consortium of Ashoka Buildcon Limited and Railtel Corporation of India Limited will be responsible for executing the project within the stipulated timeline. The project is expected to significantly enhance the infrastructure and operational capabilities of the offices under the Inspector General of Registration and Controller of Stamps in Maharashtra.
Railtel Corporation of India Limited is a government-owned enterprise focusing on providing broadband and VPN services. It plays a significant role in the modernization of telecom infrastructure across India, leveraging its extensive network to offer a range of services to various sectors.
Ashoka Buildcon Limited is a leading infrastructure development company in India, specializing in highway and bridge construction. The company is involved in various projects across the country, focusing on enhancing infrastructure and contributing to national development. Its strategic initiatives include expanding its portfolio in the infrastructure sector through collaborations and consortiums.