Allied Digital Services gains on bagging smart city contract worth Rs 207 crore

Allied Digital Services rose 3.22% to Rs 105.85 after the company, in consortium with KEC International, announced the receipt of the smart city contract for the Punjab Municipal Infrastructure Development Company (PMIDC).

The smart city contract covers three cities i.e., Amritsar, Jalandhar, and Sultanpur Lodhi. The total contract value awarded to the consortium is Rs 207.21 crore.

The project is expected to be executed in a period of 57 months i.e., 9 months for implementation and go-live and then 48 months of project support for O&M.

Nitin Shah, the company's CMD, said: "As a pioneer in establishing smart cities with India's first Pune Smart City project implementation in 2015, we have now received these new projects for 3 smart cities in Amritsar, Jalandhar, and Sultanpur Lodhi in Punjab which substantiates our prowess as India's leading master systems integrator.

Besides these 3 cities, our repertoire now includes Pune and Pimpri Chinchwad, Kalyan-Dombivali, Aurangabad, Bidkin, Rajkot, Solapur, Jaipur, and Lucknow."

Allied Digital Services is a global IT transformation architect, with a track record for designing, developing, deploying and delivering end-to-end IT infrastructure services. The company's operations are spread in 70 countries across 5 continents.

The company's consolidated net profit declined 45.55% to Rs 17.81 crore on a 47.73% rise in sales to Rs 167.02 crore in Q2 FY23 over Q2 FY22.

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