Home ›› 24 May 2023 ›› Stock
IT consultation and software solution firm eGeneration Limited entered into an agreement to build a state-of-the-art data centre for the Bangladesh Insurance Authority (BIA).
The advanced data centre will help the insurance authority to store data of the country’s insurance sector properly, as per a disclosure filed with the Dhaka Stock Exchange (DSE) on Tuesday.
The listed IT firm will earn approximately Tk 15 crore by implementing this project.
Emran Abdullah, director (strategic sales) of eGeneration said, “With an aim to become a prominent player in the country’s IT sector, we are looking to invest for developing our capacity in the areas of the establishment of data centres, advanced cybersecurity systems, and intelligent infrastructure.”
The global data centre market is projected to reach the size of $342.10 billion at the end of 2023, while it is forecasted to reach $517.17 billion by 2030, he said.
The data center will be established within six to nine months, eGeneration officials with knowledge of the matter said.
The IT firm invested Tk 25.92 crore so far in the current fiscal year, of which Tk 13.31 crore was invested in the January-March quarter.
The company posted total revenue of Tk 14.84 crore in the third quarter of the fiscal year 2022-23, which was 5 per cent higher than that of same period last fiscal.
The leading IT firm posted a profit after tax of Tk 3.08 crore in the January-March quarter of FY23.
The company in the third quarter of FY22 had revenues of Tk 14.14 crore, while its profit after tax was Tk 3 crore.
The company’s earnings per share (EPS) rose to Tk 0.41 in the third quarter of FY23 from Tk 0.40 in the same quarter last fiscal.
Sponsor-directors jointly hold 37.77 percent of the eGeneration shares, while institutions own 32.36 per cent, foreign investors 0.53 per cent; and the general public 29.34 per cent.
eGeneration shares remained stuck at the floor price of Tk 45.20 each on the DSE trading floor on Tuesday.
