Synopsys:
Eraaya Lifespaces Ltd has received a new order from Maharashtra State Road Transport Corporation (MSRTC) worth Rs.140 Cr.
The shares of this micro cap that engaged in marketing services and support services are in focus after receiving a new order worth of Rs.140 Cr from Maharashtra State Road Transport Corporation (MSRTC)
With a market capitalization of Rs. 948 Crores, the shares of Eraaya Lifespaces Ltd opened at Rs. 50.71 per equity share, from its previous day’s closing price of Rs. 50.71 and closed the day’s trade at Rs. 49.7 hitting a 2 percent lower circuit.
Order details
Ebix Technologies Limited, a subsidiary of Eraaya Lifespaces Ltd, has secured a significant order worth Rs.140 crore from the Maharashtra State Road Transport Corporation (MSRTC). The order is to implement India’s first statewide National Common Mobility Card (NCMC) system for concessional passengers.
MSRTC has made NCMC smartcards mandatory for concessional passengers, while optional for regular ones. In the first year,over 70 lakh cards will be issued, expanding to 2 Crore across Maharashtra via 3000 retail outlets by Ebix Technologies.
The Cards can be recharged online or offline and it will use Aadhaar-based authentication APIs to verify the citizens. This system is expected to handle Rs.2000 Cr In digital Transactions annually improving convenience and transparency.
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Company Details
Eraaya Lifespaces Ltd is an Indian company that focuses on providing digital technology solutions, especially in sectors like transport and public services. Through its subsidiary, Ebix Technologies, the company works on smart projects such as digital ticketing, mobility cards, and other tech-driven services that help improve convenience for people and efficiency for government systems.
The company’s revenue from operations decreased by 88 percent from Rs. 15.45 cr in Q4FY24 to Rs. 1.88 Cr in Q4FY25, accompanied by profit of Rs. 22 Lakh to a loss of Rs. 6 Crores.
Written by Sudeep Kumbar
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