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Angel Broking maintains BUY on Educomp

Angel Broking maintains BUY on Educomp
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First Published: Mon, Feb 02 2009. 11 55 AM IST
Updated: Mon, Feb 02 2009. 11 55 AM IST
Educomp Solutions has won orders from the State Governments of Uttar Pradesh (UP) and Assam for a total of 2,042 schools and the total size of these orders stands at Rs120 crore.
With these wins, Educomp has achieved its target of 12,000 schools in its ICT Business (government schools).
The UP Government has awarded 1,401 schools to the company, including 372 schools in Lucknow, 380 schools in Meerut, 369 schools in Jhansi and 280 schools in Gorkhapur for a period of 5 years on a Build-Own-Operate-Transfer (BOOT) basis.
Educomp will supply computer hardware, software and connected accessories and provide computer-aided education in the specified schools and intermediate colleges from Classes VI to XII. The company will also provide one full-time instructor, supply courseware, impart training and provide electricity and internet connections at each school.
The company will also impart training in 641 schools awarded to it by Axom Sarba Siksha Abhijan (SSA) Mission, Assam. With these order wins, the total number of schools in Educomp’s ICT Business goes up to 12,012.
We maintain a BUY on the stock, with a target price of Rs2,207.
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First Published: Mon, Feb 02 2009. 11 55 AM IST
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