IBEF: December 13, 2019
Tech Mahindra bagged its largest smart city project worth Rs 500 crore (US$ 71.54 million) from Pimpri Chinchwad Municipal Corporation (PCMC).
According to the company, Tech Mahindra will be able to connect with more than 15 lakh citizens of PCMC through this project by enabling technology-led transformation to convert it into a smart and sustainable city.
The project will be executed in a period of one year for completion, and the operations and maintenance for five years. The budget has been allocated under the Prime Minister's Smart City mission.
Mr Sujit Baksi, Head APAC Business and President, Corporate Affairs, Tech Mahindra, said: "Our association with PCMC outlines Tech Mahindra's TechMNxt strategy to leverage new generation technologies to deliver an enhanced experience to our customers. It extends our vision of supporting the government's Smart Cities agenda to strengthen nation-building initiatives that will go a long way in building a robust five-trillion-dollar Indian economy."
Tech Mahindra is focusing on using the next-generation technologies to cope up with customer's evolving and dynamic needs under its TechMNxt charter, he said.
The smart city portfolio of Tech Mahindra consists of projects in Kanpur, Gandhinagar, Nashik and Jaipur.
He further added that the government's business is a substantial part of the company and the company has other four verticals apart from government ones that are telecom, captives, banking and finance and eCommerce. These verticals contribute 80-90 per cent of the company’s overall revenue.
"These five (verticals) are reasonably large contributors and bulk of the Tech Mahindra revenue come from them in India. Most of these businesses are digital...the complexity of the projects and the way they are shaped, has strong digital content. And, they are unlike others, is not a time in material kind of business...these are large complex projects," Mr Baksi said.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.