EIL partners Detect Technologies for AI site monitoring

EIL partners Detect Technologies for AI site monitoring
Engineers India Limited (EIL) has recently announced a strategic collaboration with Detect Technologies to implement real-time artificial intelligence (AI)-based monitoring systems at construction sites. This Memorandum of Understanding (MoU) aims to revolutionize safety practices and progress monitoring across various projects undertaken by EIL.
Under the terms of the MoU, EIL and Detect Technologies will work together to deploy AI-driven solutions for enhancing safety protocols and monitoring project advancements in real-time. By leveraging a combination of cameras, drones, and cloud computing, the collaboration seeks to maintain a secure work environment, thereby minimizing the risk of accidents and injuries while ensuring efficient project progress tracking.
This partnership is deeply rooted in EIL's unwavering commitment to upholding the highest safety standards across all its projects. By embracing cutting-edge digital technologies, EIL endeavors to not only enhance safety measures but also mitigate operational risks, thereby fostering sustainable development in its operations.
Vartika Shukla, CMD of EIL, emphasized the significance of this collaboration, stating, "This MoU underscores EIL's commitment to ensuring the utmost safety standards across projects. By leveraging cutting-edge digital technologies, we aim to enhance safety, mitigate risks, and drive sustainable development in our operations".
Engineers India Limited, renowned as an engineering consultancy and technology licensing firm, operates across various sectors including hydrocarbons, petrochemicals, fertilizers, metallurgy, ports & terminals, among others. With a DSIR-recognized R&D center, EIL is dedicated to innovation and excellence in its field.
Financially, EIL has showcased robust performance, reporting a consolidated net profit of Rs 63.35 crore in the third quarter of FY24, a substantial increase from Rs 16.12 crore recorded in the same period of FY23. Additionally, the company's revenue from operations witnessed a 3.02% rise, reaching Rs 867.64 crore in Q3 FY24 compared to Rs 842.18 crore in Q3 FY23.