Ascensive Educare Secures INR 13.48 Crore Training Contract Under Mission Shakti Scheme

Ascensive Educare Limited has announced a significant milestone in its business operations, securing a lucrative contract under the Mission Shakti Scheme. The company has been awarded a work order from the Tourism & Hospitality Skill Council (THSC) to provide training to 6,016 candidates, focusing on skill development in facility management to promote entrepreneurship among Self Help Groups (SHGs).

Contract Details

The contract, valued at INR 13,48,38,720 (13.48 crore), represents a substantial opportunity for Ascensive Educare. Under the terms of the agreement, THSC will retain 1% of the training cost, amounting to INR 5,30,611.20, for administrative and monitoring charges. The net revenue for Ascensive Educare from this contract is expected to be INR 13,43,08,108.80.

Project Timeline and Scope

The work order is set to remain valid until March 31, 2027, providing Ascensive Educare with a long-term engagement in the skill development sector. This extended timeline allows for a comprehensive training program that aims to empower candidates with valuable skills in facility management.

Strategic Importance

Abhijit Chatterjee, Whole Time Director & CEO of Ascensive Educare Limited, expressed enthusiasm about the contract, stating, "We view this invitation as a testament to the dedication and expertise of our team, and we are excited about the prospect of collaborating with Tourism & Hospitality Skill Council on this impactful initiative."

Compliance and Transparency

In compliance with regulatory requirements, Ascensive Educare has made the necessary disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that this contract does not involve any related party transactions or interests from the promoter group.

Market Impact

This substantial contract is expected to have a positive impact on Ascensive Educare's financial performance over the coming years. It not only provides a steady revenue stream but also strengthens the company's position in the skill development and training sector, particularly in the tourism and hospitality industry.

The Mission Shakti Scheme, under which this contract has been awarded, is aimed at empowering women through various initiatives. Ascensive Educare's involvement in this project aligns with the broader national objective of skill development and entrepreneurship promotion among Self Help Groups.

As the company embarks on this significant project, stakeholders will be keenly watching its execution and the potential for similar opportunities in the future. The successful implementation of this training program could open doors for more contracts in the skill development space, further solidifying Ascensive Educare's role in India's vocational training landscape.