The shares of the IT-enabled service provider gained up to 3.3 percent after the company bagged a prestigious work order from the National Informatics Centre Services Incorporated (NICSI) worth Rs 1.4 crore.
Price movement
With a market capitalization of Rs 267.93 crore, the shares of Dev Information Technology Ltd were trading at Rs 118.90 per share, decreasing around 0.68 percent as compared to the previous closing price of Rs 118.10 apiece.
Reason for Rise
The shares of Dev Information Technology Ltd have seen positive movement after securing a significant order from NICSI, a Government of India enterprise, for designing, developing, implementing, operating, and maintaining IFMS 3.0 for the Directorate of Treasuries and Accounts, Jaipur (Government of Rajasthan). The project is valued at approximately Rs 1.4 crore.
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Key Projects
The company secured key contracts, including the Kaushal Darpan project for portal integration across polytechnics and ITIs, Rajkisan Sathi portal maintenance (Rs 5 crore), and a 5-year IT services contract with GSFC (Rs 1 crore). It also won the IT as a Service Award at MSP India Summit 2024.
Future Outlook
The company focuses on expanding into emerging technologies like IoT, cybersecurity, and AI, with plans to establish an AI center of excellence, Dev Labs. Its growth strategy includes expanding in North America, exploring new markets, and maintaining a client-centric approach to drive efficiency and transformation.
Guidance
For FY25, the company projects revenue of Rs 170-180 crores and PAT between Rs 15-18 crores. In FY26, revenue is expected to exceed Rs 200 crores with PAT surpassing Rs 20 crores. Future performance will be influenced by new projects and market conditions after the US elections.
Company Profile
Dev Information Technology Limited is an information technology (IT) enabled services provider. It operates through the IT & IT Enabled Services segment. Its products include ByteSIGNER and Talligence. ByteSIGNER is a desktop application that allows the digital signing of PDF documents in bulk using a digital signature.
Written by Abhishek Singh
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