Gradiente Infotainment Limited has secured a geographic information system (GIS) project from VUV International Limited. The execution of this project is currently underway at Gradiente’s Chennai Facility, which accommodates over 80 seats per shift and engages over 150 outsourced employees. This is integral to Gradiente’s expansion and diversification plan within the IT Division, with a projected investment of ₹10 crore in the IT & ITES business.
The first phase of work for the VUV project has been completed, and approved, and is set to be billed before September 30, 2023. This project holds the potential to generate a top-line revenue of approximately ₹15 crore and a bottom-line profit of ₹3 crore for the fiscal year 2023-24.
However shares were down by 4.87 per cent to ₹4.88 at 2 pm on the BSE.