NIS Management Limited has secured a major housekeeping services contract worth ₹10.36 crores from the Central Building Division, Building Construction Department, Patna. The company announced this significant business development on January 16, 2025, through a regulatory filing under SEBI's Listing Obligations and Disclosure Requirements.

Contract Details and Scope

The work order encompasses comprehensive housekeeping services for two key government facilities in Patna. The contract covers the Main Secretariat and the Campus of the Old Secretariat, representing a substantial service mandate for the company.

Financial and Regulatory Compliance

The total contract value of ₹10,36,07,027 includes all applicable taxes, providing clarity on the revenue potential for NIS Management Limited over the five-year period. The company has confirmed that this contract does not involve any related party transactions and has been awarded at arm's length terms.

Strategic Significance

This contract award demonstrates NIS Management Limited's capability to secure substantial government contracts in the facility management sector. The five-year duration provides revenue visibility and establishes the company's presence in the government services segment in Bihar.

The company views this contract as recognition of its team's dedication and expertise in providing quality housekeeping services. The management expressed confidence about collaborating with the Central Building Division on this significant project, emphasizing the importance of stakeholder support in ensuring successful project execution.

NIS Management Limited has secured a significant 12-month work order worth ₹3.45 crores from the Irrigation Waterways Directorate (IWRD) of West Bengal. This contract marks a notable business development for the facility management company, showcasing its growing presence in government infrastructure management services.

Contract Details and Scope

The work order encompasses comprehensive facility management services for inspection bungalows owned by the Irrigation Waterways Directorate across multiple districts in West Bengal. The contract involves engaging personnel for day-to-day operations and upkeep of these facilities, demonstrating NIS Management's expertise in managing distributed infrastructure assets.

Service Requirements and Implementation

NIS Management will be responsible for providing personnel for the operational management and maintenance of inspection bungalows spread across various districts in West Bengal. This involves ensuring proper upkeep and day-to-day functioning of these government facilities, which are crucial for the irrigation department's operational activities.

The company will maintain these facilities to required standards while ensuring seamless operations throughout the contract period. The distributed nature of these facilities across multiple districts highlights the logistical coordination capabilities required for successful contract execution.

Strategic Significance

This contract award represents NIS Management's continued expansion in government facility management services. The successful execution of this contract could enhance the company's credentials for similar government projects across different states, potentially opening doors for future engagements with government entities.

The 12-month contract duration provides revenue visibility for the company while establishing a foundation for potential future collaborations with government bodies. This partnership with the West Bengal government serves as a testament to NIS Management's dedication and expertise in facility management operations.