NIS Management Ltd Wins Renewal of Work Orders from Reliance Group Worth Nearly ₹15 Crore
NIS Management Limited has secured the renewal of several work orders from the Reliance Group, amounting to INR 14,94,48,448.60. The contracts pertain to essential support services for various entities within the group.The renewal includes business across seven different companies belonging to the Reliance umbrella. These include Reliance Projects and Property Management Services Limited, V-Retail Limited, Reliance Brands Limited, Reliance Luxe Beauty Limited, Reliance Brands Eyewear Private Limited, Reliance Ritu Kumar Private Limited, and Reliance Gas Lifestyle India Private Limited.
NIS Management Ltd will provide Housekeeping Services, MEPC Electrical Services, and other ancillary services across these assignments. The entire revenue associated with this work order is INR 14,94,48,448.60, which is inclusive of all taxes.
The contracts, which are being executed by the end of March 2027, involve a domestic entity awarding the orders to NIS Management Ltd. The scope of work centers on facility management and support services, covering housekeeping and MEPC Electrical Services at various sites operated by the awarding entities.
Key details regarding the contracted renewal are summarized in the table below:
| Detail | Specification |
|---|---|
| Awarding Entity | Reliance Group |
| Nature of Contract | Renewal of existing contracts for providing Housekeeping Services, MEPC Electrical Services, and ancillary support services. |
| Entity Type | Domestic entity |
| Total Consideration | 14,94,48,448.60 INR (Inclusive of all taxes) |
| Execution Period | The work orders shall be executed by March 31, 2027. |
| Related Party Status | The order does not fall under the ambit of Related Party Transaction. |
The information highlights the scope of the business relationship between NIS Management Ltd and the Reliance Group entities.
Stock Price Movement
NIS Management Ltd saw its shares decline by 2.85% during the close of trade on Monday, settling at a price of ₹49.75. The stock traded within a tight intraday range, reaching lows near ₹49.65 but briefly testing highs of ₹49.80.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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