Multibagger penny stock under Rs 60 jumps after winning Rs 140 crore MSRTC deal for India’s First Statewide NCMC Rollout for concessionaires!

Eraaya Lifespaces' Indian flagship subsidiary, Ebix Technologies Limited, has secured a significant Rs 140 crore contract with the Maharashtra State Road Transport Corporation (MSRTC). This pioneering agreement marks the first statewide rollout of the National Common Mobility Card (NCMC) for concessionaires in India, aligning with the "One Nation One Card" vision. This initiative is set to transform public transit across Maharashtra by introducing a seamless, unified digital payment system and is expected to serve as a benchmark for other state transport undertakings nationwide.

This new NCMC program builds upon Ebix Technologies' previous success with MSRTC, where they've facilitated approximately 220 crore passenger tickets over the past two years using Android-based Electronic Ticketing Machines (ETMs) across over 16,000 buses. The NCMC rollout will mandate card adoption for all concessional passengers and pass holders, with a minimum business assurance of 70 lakh cards sold in the first year, scaling to over 2 crore cards issued statewide. The project will utilise advanced Aadhaar-based authentication for various passenger categories to prevent subsidy misuse and is expected to handle over Rs 2,000 crore in annual transactions once fully operational.

This landmark contract underscores Ebix Technologies' and MSRTC's shared vision for smart, sustainable urban development, positioning Maharashtra at the forefront of India’s smart mobility revolution. Guided by Eraaya Lifespaces' new promoter and dynamic management team, Ebix Technologies is set to accelerate its growth and secure further strategic contracts. The successful implementation of the NCMC program will not only revolutionise Maharashtra's transit infrastructure but also serve as a scalable model for integrated mobility solutions across India, promoting a new era of seamless, cashless travel and significantly reducing ticketing fraud while enhancing subsidy transparency.

About the Company

Eraaya Lifespaces, a lifestyle and hospitality company focused on luxury, innovation and technology, is expanding its global footprint and offerings through the strategic acquisition of Ebix Inc. USA and its worldwide subsidiaries. This move significantly broadens Eraaya's scope beyond its core business of creating immersive cultural experiences, as Ebix is a global leader in software and e-commerce solutions across insurance, financial services, travel, healthcare and e-learning. By integrating Ebix's expertise in areas like advanced insurance exchanges and SaaS solutions, Eraaya aims to drive transformative innovation and redefine the future of business in interconnected global markets.

In its Quarterly Results (Q4FY25), the company reported net sales of Rs 1.88 crore and a net loss of Rs 6 crore while in its half-yearly results (H2FY25), the company reported net sales of Rs 15.32 crore and a net loss of Rs 26.85 crore. Looking at its annual results (FY25), the company reported net sales of Rs 22.32 crore and a net profit of Rs 25.87 crore.

The company has a market capitalisation of over Rs 900 crore and a 290 per cent 3-year stock price CAGR. The stock gave multibagger returns of over 6,400 per cent in 3 years. As of June 2025, the company's promoters own 35.61 per cent stake, FIIs own 22.47 per cent, DIIs own 1.61 per cent, the Government of India owns 0.75 per cent and the rest 39.56 per cent stake is owned by the public.

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