Eraaya Lifespaces subsidiary, Ebix Technologies Limited, has been awarded a significant contract worth ₹140 crore by the Maharashtra State Road Transport Corporation (MSRTC) for implementing the National Common Mobility Card (NCMC) program across Maharashtra. This landmark project marks India's first statewide rollout of digital transit cards for concessionaires, aligning with the Government of India's 'One Nation One Card' vision.

Project Highlights

Transforming Public Transit

The NCMC program is set to revolutionize public transportation in Maharashtra by introducing a seamless, unified digital payment system. Key features include:

• Smartcard adoption for all concessional passengers and pass holders
• Optional availability for regular passengers
• Card top-up facilities via physical outlets and online platforms
• Advanced Aadhaar-based authentication for various passenger categories
• Integration with existing Electronic Ticketing Machines (ETMs)

Building on Previous Success

This new contract builds upon Ebix Technologies' previous engagement with MSRTC. In November 2022, the company secured a contract to supply 38,622 Electronic Ticketing Machines. Over the past two years, this system has facilitated approximately 220 crore passenger tickets across MSRTC's fleet of over 16,000 buses, serving 13 crore monthly passengers.

Implications for Public Service

The implementation of the NCMC program is expected to:

• Enhance subsidy transparency
• Reduce ticketing fraud
• Improve the overall travel experience for millions of commuters
• Set a benchmark for other state transport undertakings nationwide

Corporate Disclosure

As per the LODR (Listing Obligations and Disclosure Requirements) data filed by Eraaya Lifespaces Limited, the parent company of Ebix Technologies, this contract does not fall under related party transactions. The company has confirmed that neither the promoter nor the promoter group has any interest in MSRTC, the entity awarding the contract.

Ebix Technologies, under the guidance of Eraaya Lifespaces and its management team, is positioning itself at the forefront of India's smart mobility revolution. This project not only demonstrates the company's commitment to innovation in public transport and digital payments but also aligns with the broader national agenda of financial inclusion and digital transformation.

As Maharashtra embarks on this pioneering digital transit initiative, the success of this project could pave the way for similar implementations across India, potentially reshaping the future of public transportation and digital payments nationwide.

Eraaya Lifespaces Limited announced that its subsidiary, Ebix Technologies Limited, has secured a significant contract worth ₹140.00 crore from the Maharashtra State Road Transport Corporation (MSRTC) for implementing India's first statewide National Common Mobility Card (NCMC) rollout for concessionaires.

Project Highlights

• The project aligns with the government's 'One Nation One Card' initiative, aiming to create a unified digital payment system for public transit.
• Ebix Technologies will establish 3,000 retail outlets for card distribution and recharge.
• The program targets a minimum of 70 lakh NCMC cards sold in the first year, scaling to over 2 crore cards statewide.
• The system will use Aadhaar-based authentication for verifying senior citizens and other concessional categories.
• Annual transaction volumes are expected to exceed ₹2,000.00 crore once fully operational.

Expanding on Previous Success

This new contract builds upon Ebix Technologies' existing relationship with MSRTC. The company previously supplied 38,622 Electronic Ticketing Machines to MSRTC and has facilitated approximately 220 crore passenger tickets over two years across MSRTC's fleet of over 16,000 buses, serving more than 13 crore passengers monthly.

Transforming Public Transit

The NCMC program aims to revolutionize public transit in Maharashtra by:

1. Mandating NCMC smartcard adoption for all concessional passengers and pass holders on MSRTC buses.
2. Offering optional availability for regular passengers.
3. Providing facilities for card top-ups via physical outlets and online platforms.
4. Implementing advanced authentication APIs to prevent misuse of subsidies and improve targeting.

Impact on Digital Transactions

The successful implementation of this program is expected to significantly boost MSRTC's digital transaction ecosystem and enhance passenger convenience. It also positions Maharashtra at the forefront of India's smart mobility revolution, setting new benchmarks for public welfare through technology-driven transformation.

Company Outlook

Guided by its new promoter, Eraaya Lifespaces, and a dynamic management team, Ebix Technologies is poised to accelerate its growth trajectory and secure further strategic contracts nationwide. This transformative phase within the Ebix Group is marked by a renewed focus on cutting-edge technology adoption, operational excellence, and customer-centric innovation.

The NCMC rollout is anticipated to curb ticketing fraud, enhance subsidy transparency, and deliver a frictionless travel experience to millions of commuters, thereby improving public service and trust in Maharashtra's transportation system.

As Eraaya Lifespaces continues to expand its footprint in emerging and futuristic business sectors, this contract represents a significant step in reinforcing its position as a leader in digital payment solutions and public transit technology.