Trigyn Tech spurts after order win

Trigyn Technologies hit an upper circuit limit of 10% at Rs 137.90 after the company said its subsidiary secured a staff augmentation contract from the New York City Housing Authority (NYCHA).

The company's wholly-owned subsidiary will provide general, professional and information technology staff augmentation services to NYCHA.

The contract is for a potential duration of five years through 30 September 2026 (initial term three years with two one-year options at NYCHA's discretion).

The contract has a maximum fee of $50 million and contains a provision to increase the maximum fee to $125 million.

The contract covers 143 position titles across the labor categories of general, professional and technical information technology staff augmentation services.

The company said that this contract facilitates the continued expansion of Trigyn's public sector business and presence in the region.

On a consolidated basis, Trigyn Technologies' net profit declined 20.34% to Rs 14.22 crore on 0.60% rise in net sales to Rs 250.35 crore in Q1 June 2021 over Q1 June 2020.

Trigyn Technologies is a public multi-national information technology firm with 2,000 resources deployed in 25 countries across Asia, North America, Europe, and Africa. Trigyn has an established client base of major fortune 500 companies in diverse industries, intergovernmental organizations, and US State Governments.

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