iCodex ties up with VEC Consultancy to execute Rs 75-crore projects of public sector firms

Under the pact, iCodex will serve as the exclusive strategic partner responsible for executing the identified and future PSU projects

iCodex Publishing Solutions on Wednesday said it has signed a strategic partnership with VEC Consultancy LLP to execute projects worth about Rs 75 crore awarded by public sector enterprises.

”The agreement formalises the strategic collaboration between iCodex and VEC Consultancy LLP for the execution and implementation of certain government PSU projects awarded to VEC, including projects from Bharat Electronics Limited and ITI Limited,” the company said in statement. Under the pact, iCodex will serve as the exclusive strategic partner responsible for executing the identified and future PSU projects, covering hardware and software deployment, manpower, and vendor management.

VEC will oversee overall coordination, compliance, and quality control, it added. The arrangement is projected to generate a topline revenue of Rs 60 crore and a profit of around Rs 3 crore for iCodex. The partnership will remain effective until the completion of the projects or until it is mutually terminated.

The company said the collaboration will significantly strengthen its business profile by expanding its presence in government projects. The association is also expected to enable iCodex to leverage its IT-enabled service capabilities for sustainable growth, the statement added.