The five-year deal is worth Rs 160 crore per annum. Initially, its for 20,000 vehicles. With this deal, our vehicle-tracking product is going to make a major contribution to our total revenues, said a spokesperson from Dhanus.
Vehicles, where the tracking system will be installed, will be operational from April 15.
During the five-year period of the deal, Dhanus will not be able to get into deals with private players, unless the federation decides otherwise.
Currently, Dhanus works with 60 logistics and BPO firms for tracking their fleet and vehicles. They are also looking forward to add another 500 companies in the next six months.
They are also planning to extend the vehicle-tracking service to the US, Middle East, Europe and South East Asia.
The tracking services can detect loss and theft of a vehicle, provide real-time positions for fleet managers, track mileage, routes and locate current positions. Dhanus Technologies plans to double revenue to Rs 180 crore by the end of 2008 from Rs 92 crore last year. This deal is likely to spur its growth plans.