Shares of ITI Ltd would be in the spotlight on November 19 after the company received an order value of ₹95 crore from the Directorate of Geology & Mining, Government of Uttarakhand. The order is circulated for the MDTSS project regarding illegal mining and to increase the state government’s revenue.
Project Highlights
- Scope of Work: ITI will handle the development, implementation, and maintenance of the MDTSS project across four districts: Dehradun, Haridwar, Udham Singh Nagar, and Nainital, covering 40 check gates.
- Technology Integration: The system will feature advanced bullet cameras, RFID radars, and LED floodlights to monitor illegal mining activities effectively.
- Control Centres:
- A central Mining State Control Centre (MSCC) will be established in Dehradun.
- Mini command centres will operate from district headquarters.
Revenue Implications
The Uttarakhand Government envisions this initiative to significantly curb illegal mining while bolstering the state’s revenue collection.
Other Updates
- ITI and a consortium partner recently emerged as the lowest bidder (L1) for several packages of the BharatNet Phase-3 Project. These packages span Arunachal Pradesh, Nagaland, Manipur, Himachal Pradesh, West Bengal, and Andaman & Nicobar Islands, with a total order value of ₹4,559 crore.
- Financial Performance:
- ITI narrowed its consolidated losses to ₹70.3 crore for the September quarter, down from ₹126 crore in the year-ago period.
- Revenue surged 312.3% YoY to ₹1,016.2 crore, compared to ₹246.5 crore in the same period last year.
This contract win aligns ITI with the government’s digital transformation goals and showcases its growing foothold in state-driven technology projects.
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Source: Moneycontrol
News Desk
