Vedavaag Systems Ltd Company Summary

Vedavaag Systems Ltd Summary

Vedavaag Systems Ltd is a rapidly expanding Software development and e-Business solutions company committed to provide solutions in the field of e-Business Retailing and services, e-Governance, Managed Infrastructure and Enterprise Applications. The company has well defined software development and solution delivery methodology RACE Requirement Collection, Analysis, Coding and Establishment to ensure total quality solutions. The company acquired ISO 9001- 2000 certification in its e-governance applications development and services delivery. The company is a pioneer in providing e-ticketing solutions Transport sector and internet based and client server architecture based solution for Local body governance such as Municipal Corporations, Nagar Palikas, Block Development offices and Panchayats.The company, with their brand of instant citizen services ABHEE - Agri support, Banking & Insurance, Healthcare, Edutainment and E- services, is strongly entrenched in the markets of Bihar and Haryana with a predominantly rural network of 2200+ citizen service centres. The launch of Microsoft digital literacy programme, SBI financial inclusion services, Suvidha citizen services, Bharat Matrimony services and Idea recharge services is a testimony to the fact that they have emerged as a force to reckon with, in these markets, creating a niche within a short period of time, by leveraging its wide presence.Vedavaag Systems Ltd was incorporated in the year 1998. The company went public in the year 2000 and got listed in Bangalore and Hyderabad stock exchanges. The company during the initial days executed many intranet and client specific applications for customers such as Andhra Bank, Oriental Bank of Commerce, Nokia, Web Sprocket Inc, Information Logistics, Singapore and others. They built strategic relationship with Electronics Corporation of India (ECIL), a public sector undertaking to reach out into e-governance sector.The company bagged their first project in e-Governance solutions along with ECIL in year 2001 to execute a five year contract for computerized bus pass services for Delhi Transport Corporations and went on to bag similar contracts from many other state road transport undertakings in Tamilnadu, Karnataka and Maharashtra.The company setup over 2000 citizen services centers in Delhi, Haryana and Bihar to reach out to people. These centers had been setup under the Government of India Mandate to provide various G2C, B2C and B2B services. The company launched various citizen services under the brand ABHEE and proposal is on to setup these centers are free standing units on franchise basis.The company was certified for ISO 9001:2000 for their e-Governance applications delivery and services management since 2006. The companys equity shares were listed on the Bombay Stock Exchange Ltd (BSE) with effect from March 9, 2009. In August 2009, the company signed an MoU with HARTRON, the Haryana Government nodal agency for common service center project implement to render electricity bill collection services from its e-Disa Ekal Sewa Kendral. In June 2010, they incorporated Vagdevi Sark Edutech Pvt Ltd as a subsidiary company for Education Services.During the year 2010-11, the company setup over 1000 common service centers in Bihar for delivering various government to citizen (G2C) and Business to Citizen (B2C) services. The company has bid for many other e-governance projects and expected to have a healthy order book position from this segment.In May 2011, the company received an order from public sector undertaking ECIL for setting up data center, data entry and biometric data collection of citizens covering 9 districts of Andhra Pradesh - Guntur, Prakasam, Nalgonda, Krishna, East Godavari, West Godavari, Chittor, Cudapah and Nellore. The order value is estimated at around Rs 59 crore. The company is executing the order in consortium with Agrigold group, Vijayawada (AP).In July 2011, the company changed their name from SARK Systems India Ltd to Vedavaag Systems Ltd.During the Financial year 2021-22 Vedavaag Financial Services Private Limited and Vedavaag Kiya Ecommerce Private Limited became subsidiaries of the Company.