Ducon Will Expand Its IT Business Segment into Mobile App Market

Ducon Infratechnologies Limited (BSE: 534674, NSE: DUCON) an emerging technology company providing services & solutions in the infrastructure & Information Technology (IT) sectors to multiple business segments across varied industries announced that it is expanding its IT business segment activities in the Mobile Applications (Mobile App) market.

The Company has decided to expand its IT business segment further due to the emergence of tremendous business opportunities in the Mobile App ecommerce globally as mobile phones are getting extremely advanced and more and more people are starting to use their cell phones to purchase goods & services for their daily lives and conduct all types of financial transactions through Mobile Apps. Businesses worldwide are also making their goods and services available to consumers through Mobile Apps which were earlier provided through websites. The Company has been developing an ecommerce transactional Mobile App platform through its US subsidiary, which aims to fulfill the needs of consumers and small business owners by allowing users to conduct various financial and business transactions through the Company’s Mobile App in daily use and hence make them more productive.

“According to a new study, the Mobile App economy worldwide will exceed $200 Billion by 2020 and India alone will add more than 500 million consumers to mobile transactions in the next several years, a 3.5 lakh crore opportunity, as more people will be using their Mobile Apps due to greater availability of bandwidth in India,” said Mr. Aron Govil, Chairman of the Company. “And we definitely want to take advantage of these emerging business opportunities,” continued Mr. Govil. “In our infrastructure business segment we still continue to work diligently in submitting new bids and revising older ones for FGD projects, and we are very hopeful that some of these FGD opportunities will get decided and materials soon,” Mr. Govil further added.

The Company, through its USA subsidiary, plans to launch in the next couple of months, two separate Mobile Apps: one for operation outside India and the other for the Indian market. These innovative Mobile Apps would allow users to push the boundaries of ecommerce by offering greater flexibility and ease of operation in person-to-person financial and business transactions. The Company will provide further details about these Mobile Apps and the progress of their launch in the coming weeks.

About Ducon Infratechnologies Limited

Ducon Infratechnologies Limited (BSE: 534674, NSE: DUCON) is an emerging technology company based in India for providing solutions in the Industrial, infrastructure & information technology digital space to multiple business segments across varied industries. In the digital space, Ducon offers distribution services to its clients related to marketing initiatives, distribution, volume procurement and end to end technical support. On the infrastructure sector, it intends to offer complete solutions including execution of turnkey projects in rural electrification, environmental control & material handling areas across India and neighboring regions. The Company is led by a team of young and dynamic professionals with technical, marketing and sales know-how and has an objective to become a leading solution provider in the digital and infrastructure business sectors.

Disclaimer: Certain statements in this news release that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors. that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.