Additional Details Required for Corporate Announcement filed under Regulation 30 of SEBI (LODR) Regulations, 2015 - Media release dated July 22, 2025: Eraaya Lifespaces Leads Digital Transit ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Eraaya Lifespaces' subsidiary Ebix Technologies Limited (formerly EbixCash) has secured a ₹140 crore contract from Maharashtra State Road Transport Corporation (MSRTC) for India's first statewide rollout of the National Common Mobility Card (NCMC) for concessional passengers. The deal expands an existing partnership under which Ebix already supplies 38,622 Android-based electronic ticketing machines serving over 13 crore passengers monthly across 16,000+ buses. The new project targets a minimum of 70 lakh NCMC cards in year one, scaling to 2 crore cards via 3,000 retail outlets, with expected annual transaction volumes exceeding ₹2,000 crore once operational. Implementation starts July 21, 2025 with full rollout by January 2026 and a project end date of November 7, 2028.
This is a sizeable government-backed order that strengthens Ebix Technologies' position as a digital transit leader in India and could pave the way for similar statewide contracts elsewhere. Positive for shareholders as it locks in multi-year revenue visibility and reinforces the new management's growth strategy under Eraaya Lifespaces.