HCL Tech wins contract from Sydney Trains worth over $32 m

Written By Unknown on Senin, 18 Agustus 2014 | 21.03

Sydney Trains provides train services in the Sydney central business district and metropolitan area. It underwent a major restructuring and was formally launched on July 1, 2013, replacing CityRail as the provider of metropolitan train services for Sydney (Australia).

HCL Technologies , country's fourth largest software services firm, has bagged a deal worth about AUD 35 million (over Rs 198 crore) from Sydney Trains to support and maintain 107 of its business applications.

Sydney Trains provides train services in the Sydney central business district and metropolitan area. It underwent a major restructuring and was formally launched on July 1, 2013, replacing CityRail as the provider of metropolitan train services for Sydney (Australia).

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"Under the contract, valued at AUD 34.9 million, HCL Australia Services will provide support and maintenance services for 107 business applications," a Sydney Trains spokesperson told PTI.

Last year, the rail operator had sought to replace a network of 11 different external suppliers which had been supporting and maintaining its business applications.

The partnership follows a recommendation from the 2012 NSW Commission Audit, which found 130 corporate systems in use across the transport cluster, and suggested that amount be reduced to between 8 and 24 in order to reap annual savings of
USD 100 million.

Sydney Trains operates 176 stations and provides 277 million customer journeys annually. HCL Technologies in Australia and New Zealand (ANZ) is headquartered in Sydney with offices and delivery centres at Melbourne, Canberra, Brisbane, Auckland and Wellington and servicing clients across Sydney, Melbourne, Brisbane, Perth, Auckland, Hamilton and Wellington.

HCL Tech stock price

On August 18, 2014, HCL Technologies closed at Rs 1527.30, down Rs 13.1, or 0.85 percent. The 52-week high of the share was Rs 1630.00 and the 52-week low was Rs 872.00.


The company's trailing 12-month (TTM) EPS was at Rs 85.44 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 17.88. The latest book value of the company is Rs 146.09 per share. At current value, the price-to-book value of the company is 10.45.


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