Small BusinessEdserv bags contract worth Rs 100cr
Education and placement company Edserv Softsystems today said it has bagged an order worth Rs 100 crore from the government for providing training to unemployed and under-employed youth across India.
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The company has been awarded the order as Associate Training Provider from Apex Hitech Institute, part of Ministry of Labour and Employment, government of India to provide Modular Employable Skills (MES) training, the Chennai-based company said in a filing to the Bombay Stock Exchange.
"With our wide network of over 250 partner centres that is growing on a daily basis, we are confident of training the target segment pan India to take part in the government"s objective to provide employability status to the downtrodden," EdServ CEO S Giridharan said.
Apex Hitech Institute, set up with assistance from the World Bank under Directorate General of Employment and Training, aims to provide training to youth, it said.
Edserv would also be involved in guiding and helping these trained and certified students with relevant employment opportunities, the company said.
The company estimates to generate revenues of around Rs 100 crore in the next 12-18 months by training around 3 lakh people, it said.
Shares of Edserv Softsystems reacted positively and surged to hit their year-high level of Rs 166.70, up nearly five per cent on the BSE.