Dynacons Secures Rs. 109 Crore Cloud Project with Punjab & Sind Bank
Filing Summary
Dynacons Systems & Solutions Ltd has secured a project from Punjab & Sind Bank valued at Rs. 108.88 crores. The project involves the implementation and management of an on-premises private cloud infrastructure over five years. Dynacons will handle the design, supply, and management of IT infrastructure, system software, and cloud services. This project is a domestic contract with no related party transactions. The initiative will support the bank’s applications across data center and disaster recovery environments, enhancing operational efficiency and scalability.
Dynacons Systems & Solutions Ltd has announced the acquisition of a project from Punjab & Sind Bank for the implementation and management of an on-premises private cloud infrastructure. The project is valued at Rs. 108.88 crores and will span a period of five years. This development was communicated in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The financial terms of the project specify a total consideration of Rs. 108.88 crores, excluding GST. This 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 project is a domestic engagement, awarded by a nationalized bank in India.
Under the scope of the project, Dynacons will be responsible for the design, supply, implementation, and ongoing management of the required IT infrastructure. This includes system software and cloud services necessary to deploy and host the bank’s applications across data center and disaster recovery environments. The solution will provide a scalable and secure private cloud platform with automated scale-in and scale-out capabilities, centralized management, and technology independence. The infrastructure will support server virtualization, compute servers, SAN switches, and object storage, among other components.
The project aligns with Punjab & Sind Bank’s strategy to enhance operational efficiency and customer convenience through technology-driven initiatives. The bank operates 1,610 branches and 28 zonal offices across India, serving both urban and rural markets. The implementation of this private cloud infrastructure is expected to support the bank’s mission-critical environments and improve inter-branch connectivity.
The timeline for the project is set for five years, during which Dynacons will oversee the deployment and management of the cloud infrastructure. The company will ensure the integration of technologies from leading global OEMs, including Dell, VMware, Red Hat, and Microsoft, to provide a comprehensive solution that meets the bank’s requirements.
Punjab & Sind Bank is a prominent nationalized bank in India, known for its extensive branch network and focus on adopting innovative technologies to improve banking services. The bank’s commitment to technology-driven solutions is evident in its decision to implement a robust private cloud infrastructure.
Dynacons Systems & Solutions Ltd is an IT company with over 30 years of experience, specializing in IT infrastructure design, consulting services, and systems integration. The company provides a range of services, including cloud computing, infrastructure managed services, and applications development. Dynacons is known for its expertise in delivering secure and scalable IT solutions across various industry sectors.