AI camera deal: Controversial firm Presadio's revenue went up 500 times within a year

The company's first year of business in 2018 saw only Rs 1.5 lakhs in sales. 

Kozhikode: Surprisingly, Presadio Private Limited Company, which is charged with corruption in the KFON Deal and the AI Camera Scandal, disclosed that the company had grown 500 times in just one year. The company's first year of business in 2018 saw only Rs 1.5 lakhs in sales. 

The company's sales rose to Rs. 7,24,000/- the very next year. The company made Rs 9,82,000 in the third year. Documents that Presadio presented to the Ministry of Company Affairs include this information. Asianet News was able to secure the documents. The documents also show that Uralungal Labour Contract Co-operative Society and the company entered into a Rs 2 crore deal the year the company was founded. The documents also include details on the equipment purchases made for the Safe Kerala initiative.

Meanwhile, the Chief Minister of Kerala and the CPM are now named in further documents that have come to light about the AI camera controversy. According to documents that have come to light, Presadio was a subcontractor in a previous deal for the establishment of a vehicle testing facility that the Transport Department gave to Uralungal Society. The financial report Presadio Company presented to the registrar also included the name of father-in-law of the Chief Minister's son.

Although SRIT has taken up the project of installing cameras to detect violations on road, the main project management firm is Kozhikode-based Presadio. The contract details of other projects won by Presadio are also coming out after the controversy over the corruption and illegal intervention of crores of rupees.

In order to establish Vehicle Driving Testing Stations in Kasaragod and Kannur, Presadio has subcontracted with Uralungal. Presadio was in charge of the 4.16 crore project's equipment supply and associated activities. Following its launch in 2018, Presadio has accepted this contract. The transport department connected with Uralungal through KIDCO and through it to Presadio in the same way that the government connected with the private firm for the traffic camera through Keltron.