Magellanic Cloud Limited has informed the Exchange about Bagging/Receiving of orders/contracts
MCLOUD · price
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Provigil Surveillance Limited, a wholly owned subsidiary of Magellanic Cloud Limited, has secured a purchase order worth approximately ₹25 crore from Punjab & Sind Bank. The order covers end-to-end implementation, installation, commissioning and maintenance of integrated AI-enabled e-surveillance systems across about 930 ATM and CRM sites under an OPEX (operating expense) model for a period of five years. The company stated this win strengthens its order book visibility and supports expansion in the surveillance and smart infrastructure space, particularly within the banking and financial services sector. The order is from a domestic public sector bank and is not a related party transaction.
This is a meaningful new order that adds revenue visibility over a 5-year period and reinforces the company's position in the banking surveillance segment, which could be viewed positively by investors. The longer-term OPEX-based engagement also implies recurring revenue potential beyond the initial contract value.