Magellanic Cloud Ltd.

Magellanic Cloud’s (MCLOUD) wholly owned subsidiary -- Provigil Surveillance has secured an order to provide end-to-end implementation and management of E-surveillance of ATM sites in 8 geographical circles spread across India.

The contract is awarded post competitive bidding and will enable MCLOUD to provide E-Surveillance services to 3,032 ATM sites of a well-known Public Sector bank. MCLOUD through this contract will generate revenues to the tune of Rs 13 crore per year for the five-year contract period. Considering the scale of contract and scope of services, this order will likely yield healthy profit margins and add a new reputable client to its existing list of marquee clientele. This order-win is a testimony of MCLOUD’s dominant presence in the E-surveillance segment and showcases the trust placed by clients in MCLOUD’s team and provision of quality of services.

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