Gemini Communication secures order worth Rs 57.6 cr from Punjab Government

Gemini Communication Ltd has announced that the Company has bagged an order worth Rs 57.60 Cr from the Punjab Government. The Company will now be the Turnkey Hardware and Service Provider for supply, installation and maintenance of I.T. Infrastructure (Hardware, Networking and System Software etc.) for phase III of ICT Education project.

This project would cover about 2085 Government Schools in rural and urban areas across the State of Punjab. The project would be on a Lease, Maintain and Transfer (LMT) model for 5 years under the Project Information and communication Technology (ICT) Education in Schools.

The Company would be responsible to set up the entire networking in the school, install the workstations and servers with all the software and maintain the infrastructure for five years. Computer teachers will be hired by the Punjab Government who will use this infrastructure to provide computer education to students.

With this project, the Company will now deploy more resources in North India and can strengthen its base to service clients in Haryana, Punjab & Himachal Pradesh. Gemini plans to open a sales & support office in Chandigarh to provide support for the project and at the same time, expand its client base in that region.

"We worked very hard for this project and put in our best possible bid. Our bid was declared as the Lowest during the Financial bid opening. We are very confident that Gemini will play a major role in addressing the issue of Digital Divide in Non-Urban India" Mr. SreeKrishna Director and COO of the Company said.

This year, this would be the second project for the Company to be implemented in the rural & semi-urban terrain, the first one being an order from TNEB for about Rs 75 Crores for computerization & Connectivity of Collection Centers in Rural and semi-urban areas of Tamil Nadu and integrating them with TNEB's Network Operations Center based in Chennai. Gemini implemented the first phase of the TNEB project successfully last year and this year, they have been awarded the second phase also.

The Company's current order book position is Rs 175 Crs and all this will have to be executed in the first two quarters of this financial year. With the Punjab Schools project being a BOOT model Gemini will execute orders worth about Rs 175 Crs in the first two Quarters while recognizing revenues for about Rs 125 Crs.

Source : Equity Bulls

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