IT infrastructure company received an order worth Rs 10.55 Crore Order from NICSI

Esconet Technologies Limited announced today a significant contractual order from National Informatics Centre Services Inc. (NICSI) for the supply and installation of a Data Storage System. The contract, valued at approximately Rs 10.55 Crores (Indian Rupees Ten Crores Fifty-Five Lakhs), is earmarked for deployment at the National Data Centre (NDC) operated by the National Informatics Centre (NIC). This order underscores Esconet Technologies Limited's expertise in providing advanced data storage solutions and its contribution to national infrastructure projects.

NICSI, an autonomous government-owned company in India, awarded the contract. Its mandate is to provide a comprehensive range of IT services and solutions to various government ministries, departments, and agencies across the country. The scope of work for Esconet Technologies Limited includes the procurement and deployment of essential hardware, software, and related services necessary for the robust storage infrastructure, which is crucial for supporting the government's ongoing e-governance initiatives. The delivery and installation phases are meticulously scheduled to align with the timelines stipulated in the purchase order, ensuring adherence to NICSI's broader project schedule. 

About Company

Esconet Technologies Limited is a prominent provider of IT infrastructure solutions, specialising in the design, development, and deployment of data storage systems, cloud solutions, and IT security services. The company caters to a diverse clientele, including government agencies, public sector undertakings, and private enterprises, assisting them in building robust and scalable digital infrastructures. Their offerings are critical for supporting various digital initiatives, ensuring secure and efficient data management.

The company has a market cap of Rs 245 crore with an ROE of 18 per cent and an ROCE of 13 per cent. The stock gave multibagger returns of 23.88 per cent from its 52-week low of Rs 150.15 per share.

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