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3i Infotech signs a deal with MHEPL
3i Infotech has signed a major contract in the healthcare service industry with Manipal
Health Enterprises Pvt. Ltd. (MHEPL) to provide end-to-end IT infrastructure solutions.
The engagement includes providing services such as facility management,
DC collocation/migration and managed services and server room build. This will enable
MHEPL to build its IT infrastructure highway and expand its bandwidth to implement its
hospital information systems, an ERP application, across its various locations. This project will
be implemented in three phases over a period of five years. We believe the deal would
augur well for 3i Infotech to mark its foray in the healthcare segment. At the CMP of `56, the
stock is trading at 4.5x FY2012E EPS of `12.5. We maintain our Buy rating on the stock with
a Target Price of `78.
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