Intimation for receipt of Work order from Vasai Virar Municipal Corporation
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Ceinsys Tech Ltd has received a work order from Vasai Virar City Municipal Corporation for Project Management Consultancy (PMC) work on the underground drainage system in Navghar-Manikpur STP Zone-6. The order is valued at Rs. 11.39 crore and has a tentative time period of 2 years. The order has been awarded by a domestic government entity (municipal corporation) and is not a related party transaction. The company will act as a consultant for the drainage infrastructure project in the Vasai-Virar region.
This is a positive development for Ceinsys Tech as it adds a new government-sector order to its order book, providing revenue visibility over the next 2 years. Municipal and infrastructure consultancy orders strengthen the company's presence in India's urban infrastructure space, though the Rs. 11.39 crore size is relatively modest for the company.