Mortice Limited – Contract Wins

Mortice Limited – Contract Wins

Mortice Limited, the security and facilities management company based in India, is pleased to announce that since the last financial update the Company has won 33 new contracts across both its subsidiaries, Peregrine Guarding Limited and Tenon Property Services Limited with a combined value of approximately £744,000*.

Peregrine has won 27 of the new contracts for the provision of security services in India. New clients include a leading Indian health insurance corporation, a large industrial corporation and the retail operations of a premier consumer electronics corporation. Reinforcing Peregrine’s strong capability to deliver high service standards across the Indian sub-continent, these wins are for clients across eight Indian states.

Tenon, the Group’s facilities management arm, has won six new contracts. Tenon will be providing facilities services for clients including a leading, NASDAQ-listed provider of information technology and consulting services, a global fleet management corporation and a global print solutions corporation.

In addition to the new contracts, Tenon has also won mandates for increased service and geographic scope from some of its existing customers including a full-services appointment for the Bangalore premises of a network solutions corporation for whom Tenon currently manages a facility in New Delhi. Tenon now provides services to a pan-India portfolio of 4 million square feet.

Tenon and Peregrine continue to explore additional opportunities regarding the provision of similar services.

Manjit Rajain, Executive Chairman, commented:
“We continue on our path to successfully implementing a highly differentiated model for facilities services in India while continuing to grow our well established guarding business. The quality of our services is ensuring that many of our customers are engaging us for enhanced services mandates and our core value propositions ensure that we are among the few providers of services which continue to be very relevant in these challenging times.”

* As per current exchange rate of 1 GBP = INR 72.59 as of 5 PM (IST) on 27.02.2009

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