Ceinsys Tech Limited has received a Letter of Intent worth ₹67.04 crore from the Directorate of Urban Administration & Development, M.P., for the selection and appointment of a manpower agency. The contract pertains to the Pradhan Mantri Awas Yojana (Urban) – Beneficiary Led Construction (BLC) vertical in Madhya Pradesh. The order, dated July 9, 2026, designates the company for executing work valued at ₹67,04,00,000, with a project duration of 3 years as per the terms outlined in the intimation submitted to the exchanges.

Order Details

The order was awarded by a domestic entity — the Directorate of Urban Administration & Development, M.P., Bhopal. The nature of the contract involves providing manpower services under the central government's housing scheme. The company confirmed that the promoter, promoter group, or group companies do not hold any interest in the awarding entity, and the transaction does not fall within related party transactions.

Contract Summary

Ceinsys Tech has approved the formation of a joint venture with AI Fabrik, Inc., USA, to develop sovereign AI infrastructure and services platforms in India. The board approved an initial investment of up to ₹25.00 Crores for a 50% stake in the proposed entity, which will be named Aastra AI India Private Limited. This strategic move aims to secure AI NEO cloud capabilities for the Indian government, citizen services, companies, cybersecurity, and defence use cases.

Joint Venture Structure

The proposed joint venture will be established in India with a 50:50 shareholding between Ceinsys Tech Limited and AI Fabrik Inc, USA. The transaction is not a related party transaction and will be conducted at arm's length. The company intends to incorporate the entity within 90 days, subject to name availability and necessary statutory approvals.

Investment and Funding

The board has approved the initial investment in a phased manner, starting with an aggregate amount of up to ₹25.00 Crores. The investment will be wholly funded from the proceeds of the preferential issue of equity shares and share warrants approved by shareholders in April 2024. Following a 90-day exploration period, the management will present a further investment proposal for the board's consideration.

Management Appointment

In a separate regulatory filing, the board appointed CA Richa Jain as the Deputy Chief Financial Officer (Dy. CFO) of the company effective July 6, 2026. Jain brings over 15 years of experience in corporate finance and operational strategy across manufacturing and infrastructure sectors.