The order involves the procurement, deployment and maintenance of AI-based monitoring and CCTV infrastructure for residential educational institutions operated by the society across multiple locations. Under the project, the company will deploy 5MP or higher AI-enabled CCTV cameras at 176 locations and establish a centralised command control centre for monitoring and management. The scope of work also includes the supply and integration of video management software (VMS), AI analytics systems and storage infrastructure. Additionally, the project will cover installation of video wall monitoring systems, networking equipment and the development of web and mobile applications to enable AI-based incident monitoring.

According to the company, the project valued at nearly Rs 5 crore and is expected to be delivered and installed within three months from the date of the Notification of Award, in line with the tender conditions.

The company further clarified that neither its promoters nor promoter group entities have any interest in the awarding authority. The company added that the contract does not fall under related-party transactions as per applicable regulatory norms.

Magellanic Cloud specializes in offering services pertaining to software development, digital transformation, generative artificial intelligence (GenAI), the internet of things (IoT), e-surveillance and advanced drone-based applications.

The company's consolidated net profit declined 2% to Rs 28.63 crore on an 8.3% increase in revenue to Rs 163.93 crore in Q3 FY26 as compared with Q3 FY25.

The counter rose 0.13% to Rs 23.50 on the BSE.