Atishay gains on securing rate contract from Goa Electronics

Atishay added 2.85% to Rs 124.50 after it has bagged a rate contract by Goa Electronics (GEL), a Government of Goa company & subsidiary of EDC for the empanelment of agencies to provide information technology (IT) related manpower.

The engagement is designed to support GELs dynamic, project-based staffing requirements over the next year.

The contract, awarded to multiple vendors including Atishay, is structured on a rate contract basis with no fixed monetary value at the outset. Actual resource deployment will be determined by GELs manpower requirements during the contract period. The contract remains valid for one year from the issuance date of each specific work order.

 

GEL has stated that manpower demands will be raised on a case-to-case basis, depending on project needs. This flexible structure enables the organisation to scale IT staffing efficiently, aligning with ongoing and future e-governance and digital transformation initiatives in the state.

The contract is awarded by a domestic entity and applies exclusively to domestic operations. Atishay confirmed that the award does not constitute a related party transaction, and neither the promoter nor group companies have any interest in GEL.

This empanelment supports GELs broader mission to modernize government infrastructure through agile and cost-effective staffing, leveraging external IT expertise while ensuring administrative oversight.

The development is expected to bolster Atishays presence in the government IT services sector, providing the company with additional opportunities to contribute to public sector digital initiatives.

Atishay is primarily engaged in the business of Information Technology, Database management, Software Development, E-Governance and Fintech Services.

The companys standalone net profit jumped 52.8% to Rs 1.65 crore on 21.2% rise in revenue from operations to Rs 12.20 crore in Q1 FY25 over Q1 FY24.

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