Magellanic Cloud Limited has announced that its wholly owned subsidiary, Provigil Surveillance Limited, has secured a significant contract from Central Railway. The Letter of Acceptance was received from Central Railway, Bhusawal Division for a comprehensive CCTV surveillance project valued at approximately INR 2 crore.

Contract Details and Scope

The contract encompasses a complete surveillance solution including supply, installation, commissioning and maintenance of CCTV systems. The project involves deploying CCTV cameras mounted on metallic poles with video data storage capabilities through Network Video Recorders (NVRs) installed inside LC Gate buildings.

Technical Infrastructure and Features

The surveillance system is designed with advanced technical specifications to ensure comprehensive monitoring capabilities. Each station and LC Gate will be equipped with independent equipment for control and monitoring purposes. The project includes establishing a centralized command and control centre at Bhusawal for centralized monitoring and operation of the entire CCTV network.

The system incorporates AI-based surveillance features to enable smarter monitoring and improved operational efficiency. This technological integration represents a modern approach to railway security and monitoring infrastructure.

Regulatory Compliance and Corporate Governance

The company has confirmed that none of the promoter, promoter group, or group companies have any interest in Central Railway, the entity that awarded the contract. The transaction does not fall within the purview of related party transactions, ensuring compliance with regulatory requirements.

The disclosure was made pursuant to Regulation 30 read with Schedule III (Para B) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated July 13, 2023. This contract award represents a significant business development for Provigil Surveillance Limited and demonstrates the subsidiary's capabilities in the railway infrastructure security sector.

Magellanic Cloud has announced that its wholly owned subsidiary, Provigil Surveillance Limited, has secured a significant ₹10 crore purchase order from Indian Bank. The contract involves the deployment of advanced AI-powered, centrally monitored electronic surveillance systems across multiple branch locations under an OPEX model.

Contract Specifications

The comprehensive order encompasses supply, installation, commissioning and maintenance of electronic surveillance systems designed to enhance security infrastructure across Indian Bank's branch network. The solution enables smart monitoring, real-time visibility and improved security management at scale.

Strategic Business Impact

This contract win positions Provigil Surveillance Limited as a key technology partner for Indian Bank's security enhancement initiatives. The AI-powered surveillance system leverages artificial intelligence to provide advanced monitoring capabilities, improving threat detection and response mechanisms across the banking network.

Regulatory Compliance

The company has confirmed that none of the promoter, promoter group, or group companies have any interest in Indian Bank. The contract does not fall within the purview of related party transactions, ensuring compliance with regulatory requirements. The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The three-year duration ensures sustained revenue generation for Magellanic Cloud's subsidiary while establishing a long-term partnership with one of India's prominent public sector banks. This development underscores the growing demand for sophisticated surveillance solutions in the banking industry as financial institutions continue prioritizing security infrastructure upgrades.