Magellanic Cloud subsidiary receives ₹4.31 Crore CCTV contract from South Western Railway
Magellanic Cloud subsidiary Provigil Surveillance Limited secured a ₹4.31 Crore contract from South Western Railway for CCTV installation at 75 level crossing gates. The project is to be executed within 6 months, bolstering the company's railway sector presence.
The contract value of ₹4.31 Crore is material for the company and contributes to its existing railway sector orders exceeding ₹250 Crore, indicating a positive impact on its order book and future revenue.
The company has secured a new order, which is a positive development for its business and financial prospects.
Magellanic Cloud Limited announced that its wholly owned subsidiary, Provigil Surveillance Limited, has received a Letter of Acceptance (LOA) from South Western Railway, Hubli Division. The contract is valued at approximately ₹4.31 Crore.
The project involves the "Provision of CCTV at 75 Non-Interlocked Manned Level Crossing Gates over Hubli Division." The scope of work encompasses the supply, installation, testing, and commissioning of CCTV/Video Surveillance Systems, networking and telecom infrastructure, integration of monitoring systems, power backup arrangements, solar power systems, computer vision-based gate monitoring solutions, and other ancillary infrastructure.
This order is expected to strengthen the company's position in the railway surveillance and safety infrastructure sector. With this new contract, Magellanic Cloud's cumulative orders in the railway sector now exceed ₹250 Crore. The company highlighted its expanding footprint across key railway zones and divisions nationwide and its growing presence in Southern and South-Western railway networks.
None of the promoter, promoter group, or group companies have any interest in the entity awarding the contract, and the order does not fall within the ambit of related party transactions. The project is to be executed within 6 months.
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Magellanic Cloud Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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