Primech Holdings shares surge 13.88% premarket after securing $5.02M in multi-year residential cleaning contracts.

Primech Holdings surged 13.88% in premarket trading following the announcement that its subsidiary secured approximately $5.02 million in multi-year residential cleaning and waste management contracts in Singapore. The awards include two three-year agreements (~$1.08M and $1.24M), one two-year deal ($470,640), and seven one-year contracts ranging from $193,584 to $443,911. The diversified contract durations enhance the company’s recurring revenue base and earnings visibility over the next three years, reinforcing its position in Singapore’s residential facilities management sector. The news underscores improved financial resilience and operational scalability, aligning with the stock’s sharp premarket gain.