Monday, April 22, 2024
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Allied Digital wins contract to build a smart industrial city in Taloja, Navi Mumbai

Allied Digital has secured a significant project worth Rs. 190 crore for the development of a Smart Industrial City in Taloja, Navi Mumbai. This 18-month project, followed by a 60-month maintenance phase, aims to create a connected and efficient industrial environment.

The project’s core includes establishing an Integrated Command & Control Centre (ICCC) connected to a cloud-based data centre and a state-of-the-art CCTV surveillance system for enhanced security and monitoring. Additionally, smart infrastructure elements like smart poles with CCTV, air quality sensors, and smart lighting will be installed, along with a smart water metering system seamlessly integrated with the ICCC and water billing system.

For real-time communication, a variable messaging display system will be implemented. Furthermore, a robust optical fibre network will ensure efficient data transmission across the project. An innovative aspect involves using drone-based 3D mapping technology to create a comprehensive Geographical Information System (GIS) for improved spatial awareness and planning capabilities. This project signifies Allied Digital’s expertise in smart city solutions and their contribution to building advanced and sustainable urban environments.

Financial Performance   

In Q3FY24, the company posted a 1.77% decrease in its consolidated revenue at Rs 171.08 crore compared to Rs 174.17 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 21.26 crore, while the PAT of the company stood at Rs 11.69 crore, from Rs 19.28 crore last year in the same quarter. 

Business Overview 

Allied Digital Services Limited is an IT services company providing services of designing, developing, deploying digital solutions, and delivering end-to-end IT infrastructure services, enterprise applications, and integrated solutions. The company has a presence in India, the USA, UK, Singapore, Australia, and Finland.

Stock Price Movement

Today, the stock of Allied Digital opened at Rs 154.65, with a high and low of Rs 169.20 and Rs 151.90, respectively. The stock is closed trading at Rs 161.50, which increased by 4.64%. The stock has a 52-week high of Rs 201.40 and a 52-week low of Rs 71.50.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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