Corporate Development     

Published: December 15, 2024
Updated: December 15, 2024

Eraaya Lifespaces Ltd

Subsidiary EbixCash secures prestigious contracts

Erayaa Lifespaces Limited (BSE: 531035) delighted to share business updates from its Indian subsidiary EbixCash. The company has announced that its subsidiary, EbixCash, has successfully begun the rollout of a Comprehensive Ticketing Solution for the Karnataka State Road Transport Corporation (KSRTC).

The Transport Division of EbixCash has been chosen by KSRTC as the Technology Solution Provider for the supply, commissioning, and maintenance of Smart Electronic Ticketing Machines (ETMs) as part of a comprehensive ticketing solution. This ûve-year contract, valued at approximately INR 335 Million, covers all state-run buses. It involves implementing EbixCash’s Automatic Fare Collection System (AFCS) on Androidbased ticketing devices with digital payment options tailored to KSRTC’s business rules. Over 10,000 devices will be deployed across 84 depots, serving a ûeet of 8,000 buses, with plans to expand to up to 15,000 devices over the next ûve years.

EbixCash is a leading provider of e-ticketing solutions for government bus transport, oûering mobile, web, and Android-based ticketing systems. The Android platform enables ticket sales through various payment methods, including cash, UPI, credit cards, debit cards, and NCMC smartcards. This solution has the potential to be adopted by over 50 government bus public transport units throughout India.

EbixCash’s Transport Division currently provides ticketing services to nine government bus transport corporations, including state road transport corporations in major states like Maharashtra, West Bengal, Andhra Pradesh, Rajasthan, and now Karnataka. This system serves over 10 Million passengers daily through more than 70,000 Electronic Point of Sale (ePoS) smart devices, covering over 40,000 buses.

EbixCash’s Intelligent Transport Management System (ITMS) automates all aspects of fare ticketing and collection, including Electronic Ticketing Machines and the associated software.

EbixCash has been chosen as the Technology Partner for operating and managing Data Centre (1) of ITI Limited, a public sector undertaking under the Ministry of Communications, Government of India. EbixCash has received a Letter of Intent (LoI) for this prestigious long-term contract from the MeitY (Ministry of Electronics & Information Technology) Empanelled Data Centre of ITI Limited, which has an initial term of ûve years and a total contract value of about INR 1,000 Million.

ITI Limited operates a state-ofthe-art TIA 942 Tier-3 Data Centre, oûering colocation, dedicated or managed services, and cloud solutions, wherein this new contract encompasses a range of responsibilities, including Data Centre administrative activities, pre-sales and solution support during customer engagements, operations, maintenance, and management of the data centre, as well as customer relationship management and marketing support over the next ûve years.

EBIX Inc. is a leading international supplier of OnDemand software and E-commerce services to the insurance, ûnancial and healthcare industries, EBIX Inc., (NASDAQ: EBIXQ) provides end-to- end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry.

Eraaya Lifespaces is a premier lifestyle and hospitality company dedicated to curating unforgettable experiences worldwide. Rooted in a passion for excellence, we blend luxury, comfort, and style to create immersive environments that transcend mere existence. Our portfolio celebrates India’s rich culture and heritage, offering unique escapes in iconic destinations. Whether it’s crafting flawless events or producing innovative content, Eraaya Lifespaces is committed to exceeding expectations and creating memories that last a lifetime. Welcome to Eraaya, where luxury and heritage converge in perfect harmony.