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.

ITCONS E-Solutions has announced a major contract win from the Uttar Pradesh State Industrial Development Corporation Limited (UPSIDC), securing a staffing services agreement valued at ₹153.72 crore. This significant business development positions the company to expand its operations in the government staffing sector.

Contract Details

The comprehensive staffing agreement encompasses several key parameters that highlight the scope and scale of the engagement:

Regulatory Disclosure

The company has made the disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The contract represents manpower outsourcing services for a domestic entity, with no related party transactions involved.

Service Scope and Implementation

The contract requires ITCONS E-Solutions to provide a workforce of 159 personnel to support UPSIDC's operational requirements. The two-year engagement period provides stability and predictable revenue streams for the company while ensuring continuity of services for the client.

The March 2026 start date allows adequate time for workforce planning, recruitment, and deployment preparations. This timeline enables the company to ensure proper resource allocation and service delivery standards.

Strategic Significance

This contract win represents a notable achievement for ITCONS E-Solutions in the competitive staffing services market. The engagement with UPSIDC, a key state industrial development entity, demonstrates the company's capability to secure and manage large-scale government contracts.

The ₹153.72 crore value adds substantial weight to the company's order book and provides revenue visibility over the two-year contract period. Such government sector engagements often serve as valuable references for future business development opportunities.