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PNN
Mumbai (Maharashtra) [India], May 29: Cressanda Solutions Ltd - leading company providing IT solutions, digital media and IT enabled services has received the work order from Eastern Railway for providing advertising and concierge services in trains. Company has paid the requisite 1st quarter license fees and securities deposit to the railway authority. The contract will be commenced within 60 days of the receipt of Work Order. Company has appointed Veteran of Railway sector - Satya Prakash (Ex member of Railway Board and Former Senior Executive of Railways, IIT Delhi 1974 Alumni) as an advisor on the board. Company has recently won the bid in recently concluded tender floated by Eastern Railway, Ministry of Railways, towards "Provision of advertisement in EMU trains and provision of concierge services along with advertisement in Mail/Express and Premium trains operated with rakes whose primary maintenance is done by Eastern Railway". Cressanda was successful in its bid and has received an Offer Letter from Eastern Railway and complete the formalities to start the implementation. This contract is valid for a period of 5 years. As part of the Eastern Railway tender Cressanda will get rights to advertise on interior/exterior surfaces of over 500 Mail Express/Premium trains/Inter-city trains/Local trains and provide a bouquet of services comprising on-board sale of non-catering travel related items, on board Wi-Fi, internet services and Content on Demand in Mail/Express and premium trains. Business Highlights: - As part of the Eastern Railway tender Cressanda will get rights to advertise on interior/exterior surfaces of over 500 Mail Express/Premium trains/Inter-city trains/Local trains - In Jan 23, company bagged in-coach digital advertising in the Kolkata Metro for a period of 5 years. Company is in the process of installing over 700 screens in Kolkata Metro coaches Sharing more details, Manohar Iyer, Managing Director and CEO, Cressanda Solutions Limited said, "Cressanda is at the cusp of growing exponentially with two marquee Railway projects and we are honored to have Sathya Prakash a former senior bureaucrat at Indian Railways as an advisor on board Cressanda at a crucial juncture given that we are embarking on an exciting and delightful journey and his experience will further help us understand and serve Indian Railways and the passengers' needs better. This deal will provide the company a nationwide exposure for the brand deals and advertisements from across the country. Cressanda Solutions will play a key role in managing the entire operation of this prestigious projects which is a huge business opportunity. Combined with its strategic partners, its technology, tools, and program management capabilities, Cressanda will drive highly efficient programs to achieve optimal margins." In the month of January 2023, company has bagged a prestigious order for in-coach digital advertising in the Kolkata Metro for a period of 5 years. Company is in the process of installing over 700 screens inside Kolkata Metro coaches providing Digital Entertainment along with running digital advertising. Company also has submitted a proposal to Kolkata Metro to provide Wi-Fi in coaches and Content-on-Demand services. Company aims to serve 7-8 lakh passengers daily with an annual target of 15 crore passengers and above. Company is in advance stages for the contract for providing in-coach wi-fi services. In another important development, Cressanda has also joined hands with Broadcast Engineering Consultants India Limited (BECIL) a Govt. of India MINI RATNA Enterprise under Ministry of Information and Broadcasting and signed a joint consortium to bid for this marquee tender from the Ministry of Railways. Cressanda Solutions Limited https://www.cressanda.com/ Cressanda Solutions Limited (BSE:512379) is an India-based company engaged in providing information technology (IT), digital media and IT enabled services. The company has embarked on a transformational journey to innovate, expand and integrate its technology offerings with capabilities to serve larger organizational opportunities. These service contracts will generally have a profitable and long-term financial profile, and will have a profound social impact. To deliver and successfully execute turnkey projects, the company in its new incarnation has partnered with best-in-class partners and has top talent with deep domain expertise. As the company has branched out in the past year by making huge acquisitions, Cressanda Solutions is on its way to becoming a giant company with its new approach. Apart from this, it has started expanding its reach by setting up several wholly owned subsidiaries. (Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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