Eraaya Lifespaces Limited (formerly Justride Enterprises Limited) has provided significant updates regarding its operations and business growth, particularly through its subsidiary, EbixCash. The company is making waves in the Indian and global markets, with several major developments in transport solutions and data management services.
EbixCash’s KSRTC Smart Ticketing Solution
EbixCash, known for its expertise in electronic ticketing systems, has entered a prestigious contract with Karnataka State Road Transport Corporation (KSRTC). As the chosen technology solution provider, EbixCash is rolling out a comprehensive ticketing system for the state's public buses. This contract, valued at approximately INR 335 million, spans five years and involves the deployment of over 10,000 Smart Electronic Ticketing Machines (ETMs). These machines will be installed across 84 depots and 8,000 buses, with a potential expansion to 15,000 devices over time. This system is part of KSRTC's broader goal to modernize its fare collection system, enhancing commuter experience with digital payment options and reducing the reliance on manual ticketing.

EbixCash’s Transport Division
EbixCash’s Transport Division plays a key role in the digital transformation of India’s public transport system. The company provides mobile, web, and Android-based ticketing systems that accept various forms of payment, such as UPI, credit cards, and NCMC smartcards. The platform’s integration with the Automatic Fare Collection System (AFCS) offers real-time data and facilitates smooth, cashless transactions for millions of daily commuters. Serving over 10 million passengers, EbixCash currently operates in nine government bus transport corporations, including major ones in Maharashtra, West Bengal, and Andhra Pradesh.

Data Center Operations with ITI Limited
Another major announcement is EbixCash’s receipt of a Letter of Intent (LoI) from ITI Limited, a public sector undertaking under India’s Ministry of Electronics & Information Technology (MeitY). This contract, valued at INR 1,000 million, positions EbixCash as the technology partner for managing ITI’s Data Centre (1). This project spans five years and involves full operational and administrative management of the data centre, which provides cloud services and other IT solutions. EbixCash will oversee activities like pre-sales support, customer relationship management, and marketing. ITI Limited operates a state-of-the-art Tier-3 Data Centre, providing a range of ICT products and services to government departments, banks, and other organizations.

Eraaya Lifespaces’ Global Expansion via Ebix Inc. Acquisition
In a move to expand its business portfolio, Eraaya Lifespaces recently completed the acquisition of Ebix Inc., a leading provider of on-demand software and e-commerce services. The acquisition, valued at approximately USD 361 million (~INR 3,009 crore), grants Eraaya full ownership of Ebix Inc. and its subsidiaries globally. This strategic acquisition is expected to drive Eraaya's growth by leveraging Ebix’s existing infrastructure and market position, particularly in the financial services, insurance, and e-commerce sectors. The integration of Ebix Inc. into Eraaya’s operations opens up new growth avenues and diversifies its business portfolio significantly.

About Eraaya Lifespaces Limited
Eraaya Lifespaces is a premier lifestyle and hospitality company committed to creating exceptional experiences. With a focus on excellence and a passion for innovation, the company has emerged as a leading name in the industry. Eraaya's business portfolio includes a blend of luxury, comfort, and style, aiming to offer unique experiences that go beyond traditional offerings. The company is also looking to expand into new sectors through mergers and acquisitions, aligning with its vision of sustained growth and diversification.

In conclusion, these developments reflect Eraaya Lifespaces' strategic efforts to diversify its business, enhance its technological offerings, and expand its footprint in both domestic and international markets. The company is poised for continued success as it leverages the strength of its subsidiaries and acquisitions to create value for stakeholders in various sectors.