ITCONS E-Solutions Ltd has officially entered into an agreement with Pay10 Services Private Limited (formerly known as Bhartipay Services Private Limited) for providing trained and skilled personnel on a contractual basis and recruitment services. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agreement Details

The partnership encompasses comprehensive workforce solutions including the supply of trained and skilled personnel on a contractual basis and recruitment of candidates for permanent employment. The collaboration will be structured based on mutually determined scope of work between the parties.

About Pay10 Services

Pay10 Services Private Limited operates as a fintech company offering comprehensive digital payment solutions. The company's service portfolio includes payment gateway services, QR-based payments, and Prepaid Payment Instruments, positioning it as a significant player in the digital payments ecosystem.

Strategic Impact

The agreement is expected to create future growth opportunities and generate profit for ITCONS E-Solutions Ltd. By partnering with a fintech company like Pay10 Services, ITCONS aims to leverage the growing demand for skilled personnel in the technology and financial services sectors. The collaboration aligns with the company's strategy to expand its human resources and workforce solutions capabilities.

Regulatory Compliance

The disclosure was made in compliance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company confirmed that there is no shareholding relationship with Pay10 Services and that the parties are not related to the promoter or promoter group in any manner.

ITCONS e-Solutions has secured a substantial contract worth ₹28.10 crore from the Department of Defence Research and Development, marking a significant achievement for the IT services company. The contract was announced through a regulatory disclosure filed with BSE Limited on March 14, 2026.

Contract Details and Scope

The contract has been awarded by the Department of Defence Research and Development, Aeronautical Development Agency, Ministry of Defence, for manpower outsourcing services. The agreement involves the deployment of 70 resources over a period of one year.

Contract Terms and Conditions

The contract is structured as a domestic engagement with the Indian Ministry of Defence. The total value of ₹28,10,23,14.24 includes all applicable taxes and duties. The agreement includes provisions for potential extension beyond the initial one-year term through mutual agreement between the parties.

Key aspects of the contract include:

• Service Nature: Manpower outsourcing services
• Client Type: Domestic government entity
• Contract Classification: Non-related party transaction
• Extension Clause: Possible extension by mutual agreement

Regulatory Compliance

The company has fulfilled all disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made in compliance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

ITCONS e-Solutions confirmed that neither the promoter, promoter group, nor group companies have any interest in the awarding entity. The contract does not fall under related party transactions and represents an arm's length business engagement.

Strategic Significance

The company highlighted this contract as a significant milestone, emphasizing the continued trust placed in them by government agencies. This defence sector engagement demonstrates ITCONS e-Solutions' capability to serve critical government requirements and strengthens its position in the public sector services market.