SINGAPORE, Feb.  26, 2026  (GLOBE NEWSWIRE) -- Primech Holdings Limited (NASDAQ:PMEC), an established technology-driven facility services provider servicing public and private sectors primarily in Singapore, today

PMEC

Primech Holdings Secures Approximately US$5.02 Million in Multi-Year Residential Cleaning Contracts, Expanding Recurring Revenue Base

Primech Secures $5 Million in New Residential Contracts Boosting Revenue

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  <section data-block="information">
    <h3>Information</h3>
    <p>SINGAPORE, Feb.  26, 2026  (GLOBE NEWSWIRE) -- Primech Holdings Limited (NASDAQ:PMEC), an established technology-driven facility services provider servicing public and private sectors primarily in Singapore, today</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Primech Holdings Limited&#039;s subsidiary has secured $5.02 million in new service contracts, enhancing its recurring revenue over the next three years. This development strengthens earnings visibility and positions the company favorably within Singapore&#039;s robust residential facilities management sector, reflecting sustained demand for outsourced services.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Primech awarded $5.02 million in new residential service contracts.</li><li>Contracts enhance recurring revenue and earnings visibility over three years.</li><li>Diverse contract durations support financial stability and growth prospects.</li><li>Demand for outsourced facility services is strong in Singapore&#039;s market.</li><li>Company continues to focus on operational efficiency and workforce training.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Primech Holdings Limited (PMEC)</strong>: The awarded contracts enhance PMEC&#039;s revenue and position in facility management.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>The news falls under &#039;Corporate Developments&#039; due to contract wins that directly affect PMEC&#039;s financial outlook and business strategy, reinforcing its market position.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>New contracts provide revenue stability, likely boosting PMEC&#039;s stock price.</li><li>Increased earnings visibility could attract institutional investors.</li><li>Focus on operational efficiency may enhance profit margins in the upcoming quarters.</li><li>Expansion in Singapore&#039;s facility management market could lead to more contract wins.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Total value of new contracts: approximately $5.02 million.</li><li>Contracts include two three-year agreements and one two-year agreement.</li><li>Seven one-year agreements diversified across residential developments.</li><li>Company aims for sustainable growth in Singapore&#039;s facility management sector.</li><li>Primech A &amp; P recognized for service reliability and operational execution.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Investors should consider buying PMEC as recurring revenue growth supports long-term valuation.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">SINGAPORE, Feb.  26, 2026  (GLOBE NEWSWIRE) -- Primech Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PMEC">PMEC</a>), an established technology-driven facility services provider servicing public and private sectors primarily in Singapore, today announced that its subsidiary Primech A &amp; P Pte. Ltd. ("Primech A &amp; P") has successfully secured a series of new residential cleaning and waste management service contracts with a <strong>total estimated value of approximately US$5,02 million</strong>.</p>  <p align="justify">The newly awarded contracts comprise a mix of one-year, two-year, and three-year agreements, strengthening the Company's recurring revenue base and enhancing forward revenue visibility. The scope of work includes comprehensive cleaning services and waste disposal management for multiple established residential developments across Singapore, further reinforcing Primech A &amp; P's position in the residential facilities management segment.</p>  <p>Primech A &amp; P has secured a diversified pipeline of residential contracts totaling approximately US$5.02 million, comprising:</p>  <p>• Two three-year agreements valued at approximately US$1.08 million and US$1.24 million<br></br>• One two-year agreement valued at approximately US$470,640<br></br>• Seven one-year agreements ranging from approximately US$193,584 to US$443,911 each</p>  <p align="justify">This balanced contract duration profile enhances revenue stability and strengthens Primech A &amp; P's recurring income base over the next three financial years, supporting greater earnings visibility and financial resilience.</p>  <p align="justify">These contract awards reflect continued confidence in Primech A &amp; P's operational execution, service reliability, and established presence within Singapore's competitive residential facilities management sector. The wins further reinforce the Company's reputation as a trusted service partner, supported by scalable manpower management capabilities, disciplined cost management, and consistent quality control standards.</p>  <p align="justify"><strong>Driving Sustainable Growth</strong></p>  <p align="justify">With Singapore's residential property sector continuing to generate steady demand for outsourced facilities management services, Primech Holdings Limited remains well positioned to capture incremental contract opportunities with both new and existing developments.</p>  <p align="justify">The Company continues to invest in workforce training, operational efficiency initiatives, and service innovation to enhance productivity and support disciplined, scalable expansion.</p>  <p align="justify">The newly secured contracts enhance Primech Holdings' earnings visibility over the next three financial years and strengthen the Group's recurring revenue base, providing a more stable foundation for sustainable growth and long-term shareholder value creation.</p>  <p align="justify"><strong>About Primech Holdings Limited</strong><br></br>Headquartered in Singapore, Primech Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PMEC">PMEC</a>) is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond.<strong> For more information, visit </strong><a href="https://www.globenewswire.com/Tracker?data=DEaTL08X1KzdnuMJcXJm_P9Dg_X7Bmk7ZVGjX446QERkNfht0zt8zir8Yd93oVjOXGQqUxpEQ_EBxLFTW56Co5iOe_U_-evCCWbpBKC_6R5xOX-TCyDEMoq_a8JhwLWBzB8lH3Nbk_xW4otwd3W5L2TUHBGX90APKxGpOcguSnovKjfZ8wd2HJaFJJhzAsdozLiAfKJJDPv-Zf8PLblLmCHFlh0uaB82GJivyVRoXrtJFfSUP-9OWaby0h5rxOtxFUusf13HWMmK6EQKuA557A==" rel="nofollow" target="_blank"><strong>www.primechholdings.com</strong></a><strong>. </strong></p>  <p align="justify"><strong>Forward-Looking Statements</strong><br></br>Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company&#39;s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company&#39;s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as &#34;may,&#34; &#34;will,&#34; &#34;expect,&#34; &#34;anticipate,&#34; &#34;aim,&#34; &#34;estimate,&#34; &#34;intend,&#34; &#34;plan,&#34; &#34;believe,&#34; &#34;likely to&#34; or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company&#39;s registration statement and other filings with the SEC.</p>  <p><strong>Company Contact</strong>:<br></br>Email: <a href="https://www.globenewswire.com/Tracker?data=I9sdF-xJYQVz87_Ap2lpGGdo-pCrNBPy4VfpTjpTk6tKtoWaVGx41uTMVa-xeEbZHrYQfq2EK2LzMcPkyNkLmBvT8T9LBFnM4rg1PtPvwclD9qy0FU6axnPqQupZ24N1kx8_fdoHwv0fTU7P8uSTehScJMVzWab8nHFYLXxUzP-fPr2Mpx5Ko6JqjRVulZ4QVEOSQkyh7OhUteNdgyon0Ps5-5TVBPLSSUmHiaj4arn39Vxigp-gnPijU1weUaylemlAxCnxVw2O5cxm7AtyCw==" rel="nofollow" target="_blank">ir@primech.com.sg</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY2MTg2NCM3NDU2NDY2IzIzMDYwNzY="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/OTAyMjkzZTAtMzg0Mi00OWQ4LTlhZWEtMTM0NmEzZDQ0NDg1LTEzMTc2MjYtMjAyNi0wMi0yNi1lbg==/tiny/Primech-Holdings-Ltd.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/54caf5f0-c465-4970-974c-31b7f9c4e745"><img src="https://ml.globenewswire.com/media/54caf5f0-c465-4970-974c-31b7f9c4e745/small/primech-holdings-png.png" border="0" width="150" height="57" alt="Primary Logo"></img></a></p>

Primech Holdings Limited's subsidiary has secured $5.02 million in new service contracts, enhancing its recurring revenue over the next three years. This development strengthens earnings visibility and positions the company favorably within Singapore's robust residential facilities management sector, reflecting sustained demand for outsourced services.

Primech Holdings Secures Approximately US$5.02 Million in Multi-Year Residential Cleaning Contracts, Expanding Recurring Revenue Base

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Key Facts

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