Magellanic Cloud Subsidiary Secures ₹7.88 Crore CCTV Project from South Central Railway
Magellanic Cloud's subsidiary, Provigil Surveillance Limited, received a Letter of Acceptance from South Central Railway for a ₹7.88 Crore project. The project involves supplying and installing CCTV cameras at Goods Sheds across multiple railway stations and is to be executed within 365 days.
The contract value of ₹7.88 Crore is a significant addition to the company's business, indicating growth and potential for future projects.
The company has secured a new order, which is positive for its business.
Magellanic Cloud Limited announced that its wholly owned subsidiary, Provigil Surveillance Limited, has received a Letter of Acceptance (LOA) from South Central Railway, Vijayawada Division.
The LOA is for the execution of S&T arrangements, which involve the provision of CCTV cameras at Goods Sheds across multiple railway stations under the Vijayawada Division.
The total contract value is approximately ₹7.88 Crore. The project is mandated to be executed within a period of 365 days, in accordance with Indian Railways General Conditions of Contract and tender conditions. This order has been awarded in the normal course of business, and none of the promoter or promoter group entities have any interest in the awarding entity, nor does it fall under related party transactions.
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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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