NewsOrders & DealsiCodex Publishing Solutions Secures ₹75 Crore Government PSU Projects in Strategic PartnershipiCodex Publishing Solutions Secures ₹75 Crore Government PSU Projects in Strategic Partnership
Icodex Publishing Solutions Limited has partnered with VEC Consultancy LLP to execute projects worth ₹75 crores for Bharat Electronics Limited (₹45 crores) and ITI Limited (₹30 crores). As the exclusive strategic partner, Icodex will handle complete project implementation, including hardware/software deployment and manpower management. The company projects a topline revenue of ₹60 crores and a profit of ₹3 crores from this venture. Icodex will deposit ₹10 crores as a refundable performance guarantee. This partnership aims to expand Icodex's presence in government and PSU technology sectors, potentially boosting future growth and revenue.
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Icodex Publishing Solutions Limited has entered into a strategic partnership agreement with VEC Consultancy LLP, marking a significant move into large-scale government projects. The collaboration, formalized on November 10, 2025, involves the execution and implementation of projects from two major Public Sector Undertakings (PSUs).
Partnership Details
The agreement encompasses projects from two prominent PSUs:
| PSU | Project Value |
|---|---|
| Bharat Electronics Limited | ₹45.00 crores |
| ITI Limited | ₹30.00 crores |
| Total | ₹75.00 crores |
Under this partnership, Icodex Publishing Solutions will serve as the exclusive strategic partner responsible for complete project implementation. This includes hardware and software deployment, manpower management, and vendor coordination.
Financial Implications
The collaboration is expected to have a substantial impact on Icodex Publishing Solutions' financial performance:
| Metric | Projected Value |
|---|---|
| Estimated Topline Revenue | ₹60.00 crores |
| Projected Profit | ₹3.00 crores |
As part of the agreement, Icodex Publishing Solutions will deposit ₹10.00 crores with VEC Consultancy LLP as a refundable performance deposit, demonstrating its commitment to the projects.
Strategic Benefits
This partnership is anticipated to strengthen Icodex Publishing Solutions' business profile significantly. By enabling participation in large-scale PSU and government projects, the company aims to:
- Expand its footprint in the government and PSU technology sectors
- Leverage its IT-enabled service capabilities for sustainable growth
- Contribute positively to future revenue and profitability
Execution Strategy
Icodex Publishing Solutions will execute the projects on a back-to-back basis with the concerned PSUs. The scope of work includes:
- Supply and installation of necessary equipment
- Software development
- Manpower provision
- Operational management
VEC Consultancy LLP will oversee quality control, compliance, and overall coordination of the projects.
Risk Management and Legal Aspects
The agreement includes provisions for risk management and legal compliance:
- Liability for both parties is limited to the performance deposit amount, except in cases of fraud or gross negligence
- The partnership may be terminated mutually or due to non-performance, with the deposit refunded as per agreed terms
- Both parties have agreed to maintain confidentiality of all project-related information
- Any disputes will fall under the jurisdiction of the courts in Pune, Maharashtra
This strategic move by Icodex Publishing Solutions Limited represents a significant step towards expanding its presence in the government and PSU sectors, potentially opening doors for future growth and revenue opportunities in the technology services domain.
