The Company has entered into a Master Service Agreement with Zomato to provide manpower services for the period of 2 years. For further details, please refer the attached document.
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ITCONS E-Solutions Ltd has signed a Master Service Agreement with Zomato Hyperpure Private Limited to provide manpower services. The agreement is for a period of 2 years and is a domestic contract. Under the deal, ITCONS will deploy manpower based on work orders raised by Zomato from time to time. The company has stated this agreement is a significant milestone and strengthens its existing relationship with Zomato. The contract is not a related-party transaction and the promoter group has no interest in Zomato. The financial value of the contract has not been disclosed, as the quantum of work will depend on Zomato's requirements.
This is a positive development as it adds Zomato Hyperpure as a major client and provides revenue visibility over the next 2 years, though the absence of contract value limits assessment of the financial impact. Shareholders should watch for further disclosures on the scale of manpower deployment.