One of the micro-cap IT stocks engaged in providing comprehensive digital transformation and IT solutions, including cloud services and custom software development. The stock has jumped 4.38 percent after securing an order worth Rs. 1.23 crore from Gujarat Metro Rail Corporation (GMRC) for metro rail modernization.
Stock Price Movement
In Tuesday’s trading session, Dev Information Technology Limited’s share jumped to an intraday high of 4.38 percent from the previous close of Rs. 167.65. The stock opened at Rs. 165 and is currently trading at Rs. 172.55, with a high of Rs. 175 and a low of Rs. 165. The market capitalization now stands at approximately Rs. 388.83 crore.
What Happened
DEV Information Technology Limited has secured a prestigious contract from Gujarat Metro Rail Corporation (GMRC) for metro rail modernization. The project was valued at Rs. 1.23 crore and involves migrating GMRC’s existing IT infrastructure to advanced Microsoft solutions, including Windows Server 2019/2024 and Microsoft 365.
The contract, which runs from January 24, 2025, to January 23, 2028, showcases Dev IT’s ability to deliver reliable IT solutions for large public sector projects over an extended period of three years.
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Order book
DEV IT Solutions has a robust order book with several significant projects, which include an Rs. 8 crore SQL Server implementation for the Gujarat Government (6 months to 2 years), Rs. 2 crore Kaushal Darpan Portal for RajCOMP (2-3 years), Rs. 5 crore RAJUSAN SATHI Portal enhancement (1-2 years), Rs. 97 Lakhs IT services for Gujarat State Fertilizers (5 years), and Rs. 1 crore RERA 2.0 portal for RajCOMP (2 years).
Client Base
DEV IT Solutions has a strong client base, with over 250 private sector clients contributing 30-35 percent of revenue, including companies like Dash Global Glass and Zodiac Energy.
In the government sector, the company has served over 100 clients, contributing 40-50 percent of revenue, including the Governments of Gujarat and Rajasthan, NIC, and various educational institutions.
Recent quarter results
DEV Information Technology Limited’s revenue has increased from Rs. 27.95 crore in Q2 FY24 to Rs. 35.94 crore in Q2 FY25, which has grown by 28.57 percent. The net profit has also grown by 388.55 percent, from Rs. 1.66 crore in Q2 FY24 to Rs. 8.11 crore in Q2 FY25.
Written By – Nikhil Naik
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