The shares of the IT-enabled service provider gained up to 2 percent after the company bagged Two Cybersecurity Contracts from Leading USA Enterprise.
With a market capitalization of Rs 337.22 crore, the shares of Dev Information Technology Ltd were trading at Rs 149.65 per share, decreasing around 0.30 percent as compared to the previous closing price of Rs 150.10 apiece.
Reason for Rise
According to the company filing, Dev Information Technology Ltd announced the securing of two significant cybersecurity orders from an existing USA-based enterprise client. These contracts will contribute an annual revenue of USD 250,000 (~₹2 Cr) to the company
Moreover, DEV IT’s commitment to high-quality solutions has driven their success and strengthened confidence in scaling offerings globally. Their dedication to digital transformation and security excellence continues to empower enterprises, reinforcing their position as a leader in delivering innovative, secure solutions worldwide.
Management Comment
Commenting on the orders, Mr. Pranav Pandya, Founder & Chairman (DEV IT), said: “Securing these contracts reaffirms the trust our clients place in us. Our ability to adapt, innovate, and provide worldclass cybersecurity services has positioned us as a preferred partner. We are excited about the opportunities this unlocks for the future.”
Key Projects
The company secured key contracts, including the Kaushal Darpan project for portal integration across polytechnics and ITIs, Rajkisan Sathi portal maintenance (₹5 crore), and a 5-year IT services contract with GSFC (₹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 ₹170-180 crores and PAT between ₹15-18 crores. In FY26, revenue is expected to exceed ₹200 crores with PAT surpassing ₹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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