Hot Pursuit     20-Jun-23
Dynacons Systems hits the roof on bagging order from Union Bank of India
Dynacons Systems & Solutions locked in an upper circuit of 5% at Rs 501.55 after the company received an order worth Rs 79.47 crore from Union Bank of India for expansion of bank's on-premises private cloud.
The order includes supply, installation, configuration, implementation and maintenance for hyper-converged infrastructure and software solution for expansion of bank's on-premises private cloud.

Union Bank of India is one of the largest Government Bank having Head office at Mumbai and more than 9400 branches & 125 regional offices spread across the country. The private cloud solution will help standardize and automate its processes.

The hyper-converged IT infrastructure will allow the bank to scale faster, offer technology enhancements quicker, reduce operational complexity, and automate application provisioning and deployment. The solution involves the integration of products of HP Enterprise, VMWare, Red Hat and Microsoft.

The project covers 5 years and will have a guaranteed uptime of minimum 99.95% for 24 x 7 x 365.

Parag J. Dalal, executive director, said, “Accelerated adoption of the cloud is opening up all kinds of possibilities in product and business model innovation. A cloud-first digital core is a key to enterprises' growth and transformation journeys. The company's strong service orientation, willingness to invest in the relationship, commitment to deliver impactful outcomes and track record of execution excellence have made us the preferred partner to enterprises in these journeys.”

Dynacons Systems & Solutions is an IT solutions company with global perspectives and is engaged in providing a comprehensive range of end-to-end solutions to customers. It has the technical expertise and the service delivery infrastructure to serve Customers at a level of quality consistent with their expectations. It helps in the selection of the right technology and application that will yield the greatest return and build a business case for implementation based on lower Total cost of ownership and higher performance.

The company's consolidated net profit jumped 91.9% to Rs 12.32 crore in Q4 FY23 as compared with Rs 6.42 crore in Q4 FY22. Net sales rose 8.3% year on year to Rs 226.65 crore in Q4 FY23.

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