PNN
Mumbai (Maharashtra) [India], September 4: Mastermind Advertising Private Ltd, a subsidiary of Cressanda Railway Solutions Ltd (BSE: CRESSAN), a premier provider of railway auxiliary concierge and digital media services, is pleased to announce its sponsorship of the Uttarakhand Metro Rail/PRT/Ropeway Project Investors Summit "B2B". The summit will be held in Singapore on October 14-15, 2024, organized by IFET Global Ventures Private Limited.
This summit will gather policymakers, global trade associations, international business and financial leaders, entrepreneurs, and CEOs from both domestic and international corporations. The event aims to foster international business collaborations and advance infrastructure development in Uttarakhand.
Arun Tyagi, Managing Director of Cressanda Railway Solutions Ltd, commented, "We anticipate a positive impact from this summit in fostering international business collaborations and advancing infrastructure development in Uttarakhand. This initiative aligns with our commitment to enhancing passenger experiences and supporting the Digital India mission."
The summit is designed to connect Uttarakhand with global Foreign Direct Investment (FDI) and investors, focusing on sectors such as Urban Transport, Ropeway Projects, Personal Rapid Transport (PRT), and Metro Rail. It aims to boost foreign investment and uncover dynamic business opportunities in these areas.
We anticipate that the summit will significantly boost international business collaborations and advance infrastructure development in Uttarakhand. The targeted investment for this summit is between 5,000 to 10,000 crores, with a success fee of 1.50% from the state government as our revenue. Additionally, we are introducing an innovative farming technology that aims to triple agricultural productivity. This technology will be provided under a barter system, where 1/3 of the increased product yield will be allocated to us as our revenue share.
Financial Performance
In Q1FY25, Cressanda Railway Solutions Ltd reported a 23.7% increase in revenue, reaching Rs. 17.48 crore, compared to Rs. 14.13 crore in Q1FY24. The company's net profit saw substantial growth, reaching Rs. 2.02 crore, up from Rs. 12 lakh in Q1FY24. For FY 2023-24, the company reported a net profit of Rs. 13.80 crore and revenue from operations of Rs. 204.66 crore.
Strategic Partnerships and Initiatives
The company has recently partnered with Shaurrya Teleservices Pvt Ltd to provide Wi-Fi and Content on Demand (COD) across Eastern Railway trains. A pilot project will start on a long-distance train from Howrah to Barmer, Rajasthan. This initiative aims to enhance digital connectivity in trains, aligning with the vision of a Digital India.
Additionally, Cressanda Railway Solutions Ltd has commenced wheelchair services at Howrah station as part of its Concierge Services tender for Eastern Railway. This service, which began on August 1, 2024, will soon expand to Sealdah and other stations to improve accessibility for passengers.
Cressanda Railway Solutions Ltd has also acquired the Rail Services App, facilitating easy booking of wheelchair services and enhancing travel convenience for commuters.
About Cressanda Railway Solutions Ltd
Cressanda Railway Solutions Ltd is dedicated to improving the railway travel experience through innovative digital solutions and concierge services. Recent initiatives include providing Wi-Fi and COD services on Eastern Railway trains, introducing wheelchair services, and offering pick-up & drop services and on-board sale of non-catering items.
For more information, please visit: www.cressanda.com
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