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HAL and Tech Mahindra Sign Us 400 Crore Contract for 'Project Parivartan'

Posted On: 2020-10-28 22:49:56 (Time Zone: Arizona, USA)


Hindustan Aeronautics Limited (HAL) and Tech Mahindra (TM) signed a contract worth Rs 400 crore recently in Bengaluru for implementation of Enterprise Resource Planning (ERP) to support HAL's 'Project Parivartan'.

The 'Project Parivartan' is a comprehensive business transformation exercise initiated by HAL through technology enhancement and centralized ERP, says Mr. R Madhavan, CMD, HAL. The exercise will enable HAL to adopt some of the best practices followed in some of the similar industries globally, he adds.

Mr. Sujit Baksi, President Corporate Affairs and Business Head Emerging Markets, Tech Mahindra, said, "Tech Mahindra's selection by Hindustan Aeronautics Ltd extends our vision of supporting government's 'Atmanirbhar' (self-reliant) initiative to enhance our indigenous capabilities. This project will transform HAL's ERP system, serving the Armed Forces in an efficient and effective manner. This is in line with our TechMNxt charter that focuses on leveraging new generation technologies with original equipment manufacturers and aims to deliver an enhanced experience to our customers."

The contract was signed by Mr Dibyendu Maiti, Executive Director (Corporate Planning), HAL and Mr Prashanth S, Group Competency Head, Tech Mahindra in the presence of Mr R Madhavan, CMD, HAL

Tech Mahindra will be responsible for the transformation and modernisation of the ERP System as an implementation and support partner enabling HAL to streamline and standardize its business processes across the organization. As a system integrator, Tech Mahindra will implement 'Project Parivartan' over a period of nine years at a cost of Rs 400 crores. Tech Mahindra will transform the distributed application to a centralized application, for all the 20 divisions and R&D Centers of HAL based on a business transformation engineering process. This includes centralized ERP Turnkey Solution to meet HAL's business requirements with implementation of SRM, CRM along with select non-ERP-applications.

Shares of Hindustan Aeronautics Ltd was last trading in BSE at Rs.700.55 as compared to the previous close of Rs. 700.25. The total number of shares traded during the day was 10834 in over 754 trades.

The stock hit an intraday high of Rs. 712.4 and intraday low of 696.25. The net turnover during the day was Rs. 7624350.

Shares of TECH MAHINDRA LTD. was last trading in BSE at Rs.803.95 as compared to the previous close of Rs. 828.85. The total number of shares traded during the day was 429740 in over 7899 trades.

The stock hit an intraday high of Rs. 836 and intraday low of 801.15. The net turnover during the day was Rs. 353634667.


Source: Equity Bulls

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