Manpower Service Provider Secures Rs 15.37 Crore Manpower Outsourcing Contract from UPSIDC

Prajwal DSIJCategories: Mindshare, Trending
Join Us Join UsFollow Us Follow UsSelect DSIJ as preferred on Select DSIJ as preferred on
Manpower Service Provider Secures Rs 15.37 Crore Manpower Outsourcing Contract from UPSIDC

The stock is up by 38 per cent from its 52-week low of Rs 264 per share and gave multibagger returns of 500 per cent in 2 years.

✨ AI Powered Summary

ITCONS E-Solutions Ltd, a specialised provider of human resource and outsourcing solutions, has announced the acquisition of a major domestic contract from the Uttar Pradesh State Industrial Development Corporation Limited (UPSIDC). The contract, awarded by the Infrastructure and Industrial Development Department of Uttar Pradesh, is valued at Rs 15,37,20,150.19 (inclusive of all Taxes and duties).

Under the terms of the agreement, ITCONS E-Solutions will provide manpower outsourcing services, deploying 159 resources to support the operations of UPSIDC. The project highlights the company’s expertise in managing large-scale human capital requirements for critical government infrastructure and industrial departments.

The contract is scheduled to commence on March 16, 2026, and will remain in force for a period of two years, concluding on March 15, 2028. There is a provision for extending the agreement further through mutual consent between ITCONS and UPSIDC.

Add DSIJ as your preferred news source on G o o g l e

Add Now

About the Company

Founded in 2007, ITCONS E-Solutions Ltd has carved a niche in India's human resource landscape. Headquartered in New Delhi, they serve both public and private organisations across diverse industries like IT, FMCG, and food. Their core strength lies in providing a comprehensive suite of HR solutions. This includes permanent and temporary staffing, recruitment process outsourcing, payroll services, and even managed IT services. ITCONS boasts a team of over 800, leveraging their expertise to offer specialised services in various segments, helping businesses find the right talent and streamline their HR processes.

According to the financials, ITCONS E-Solutions has a market cap of Rs 230 crore. The stock is up by 38 per cent from its 52-week low of Rs 264 per share and gave multibagger returns of 500 per cent in 2 years. The company's shares have a PE of 73x, an ROE of 13 per cent and an ROCE of 17 per cent.

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