Ceinsys Tech rallied 2.56% to Rs 1,521.10 after the company received a letter of award (LoA) worth Rs 114.99 crore from the Mumbai Metropolitan Region Development Authority (MMRDA).
The contract is for the selection of a system integrator (SI) to monitor infrastructure projects using the integrated data and document platform (IDDP) for MMRDA.
The project has a total duration of 4 years, comprising 1 year for implementation followed by three years of operations and maintenance.
The company has confirmed that neither the promoter, promoter group, nor any group companies have any interest in the entity to which the order has been awarded.
Further, the transaction does not fall under the category of related party transactions, and therefore, the question of it being conducted at arms length does not arise.
Ceinsys Tech is primarily dealing in providing enterprise geospatial & engineering services and sale of software and electricity.
The companys consolidated net profit jumped 88.4% to Rs 21.87 crore on 81.9% increase in revenue from operations to Rs 142.39 crore in Q4 FY25 over Q4 FY24.
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