SoftTech Engineers Limited — Regulatory Filings 2020

Sep 21, 2020

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Date: 21-09-2020

To, National Stock Exchange of India Limited Bandra-Kurla Complex Bandra (East) Mumbai – 400 051

Dear Sir/ Madam,

Scrip Code: SOFTTECH

Subject: Press Release

Please find enclosed the press release titled “SoftTech Engineers Limited (SoftTech) Bets Big on Online Building Plan Approval System; Gears Up for Brighter Outlook”

We request you to take above information on your record.

Thanking You,

FOR SOFTTECH ENGINEERS LIMITED

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AISHWARYA PATWARDHAN

COMPANY SECRETARY

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SoftTech Engineers Limited (SoftTech) Bets Big on Online Building Plan Approval System; Gears Up for Brighter Outlook

With more and more states enabling smart governance for ease of doing business, the future for online building plan approval system looks brighter in India. We already have states like Andhra Pradesh, Telangana, UP, Gujarat, Rajasthan and Jharkhand where the online building plan approval system has provided great relief to the housing industry and has helped these states in achieving higher EODB rankings. Now, other states are also joining the tracks.

As more and more states are enabling and implementing an online building plan approval system, SoftTech Engineers Limited, who has been revolutionizing the technology in the AEC domain for the last 24+ years, is gearing up for a brighter and better outlook.

SoftTech’s solution implemented at MCGM has contributed to the improvement in India’s EoDB global ranking. The company has been re-inventing the ways businesses are conducted in the AEC domain. No doubt, the company has already served more than 600+ customers across government bodies & smart cities; and the number is growing consistently.

SoftTech Technology Global Efforts:

Having established a strong foothold in the domestic market, the company is eyeing to expand internationally. Considering the potential of SoftTech technology globally, RIB has invested in SoftTech. RIB is a German headquartered company holding world’s leading position in construction industry Software, and provider of MTWO cloud enterprise platform technology to the building and infrastructure industry. SoftTech has started participation in international bids for construction permits. Recently SoftTech and RIB have jointly participated in two international bids for BIM based construction permit software applications to government clients based at Singapore and Australia. One bid is pending for participation in United States.

We have established strong relationship with a UK based global leader in Energy management system for buildings and are looking at enhancement of our Permit solutions to provide Energy ratings and audits of the buildings. We plan to implement Green Building codes as an extension of our AutoDCR product.

We have started penetration of our product OPTICON in Asia pacific countries. Malaysia market has shown strong demand for OPTICON after Covid-19, as many construction companies are now wanting automation as a basic need to manage their business rather than an option. We have targeted high potential market in this region.

The company is spreading its wings with a partnership with ESRI to offer its solutions jointly with their GIS City ELA solution as a box solution to cities.

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Outlook 2020-21:

The outlook for 2020-21 is looking brighter with continued efforts by Government and Industry to overcome the COVID situation. With the recent launch of RuleBuddy®PlanAssist, the company is upbeat about its revenue. Rulebuddy eliminates CAD software dependency for rule checking. After this launch, now the company looks to strengthen its mark in the private sector. Also, BIMDCR is shaping excellently and SoftTech is confident to establish this product in the Asia Pacific, UK, and the US in the year 2020-21. Our business and strategic partnership with East India Udhyog Limited will help us strengthening our government business to multiple folds leveraging their reach to the entire country network and financial strength. We will be able to leverage their association in financial year 20-21 to multiply our growth.

CEO Speaks:

Commenting on this, Mr. Vijay Gupta, Founder, and Managing Director, SoftTech Engineers Limited, said, “We’re constantly working to maintain our leadership position in building plan approval system in India. Also, we are looking forward to serve the private sector with our new product RuleBuddy® PlanAssist. I am confident that, this will help us with significant penetration in the private sector”.

“Our partnership with RIB will contribute to our sales revenue from the international markets and help us achieve higher profits and valuations.

On the whole, we shall continue to drive the Company’s Revenue and Profitability, increasing Return on Capital Employed as well as resource utilization and improving cash flows for our business backed with our strong ethical and corporate governance practices and continuous innovations” he added.