PM Modi Launches IFSC Single Window System Developed by This Micro-Cap Company - Complete Details Inside!
The company’s shares have delivered a return of over 25 per cent in the past 6 months.
Dev Information Technology Ltd, a global IT services provider specializing in Cloud Services, Digital Transformation, Enterprise Applications, and Managed IT Services, has showcased its technological capabilities with the launch of the Single Window IT System (SWIT). This platform aims to transform how businesses establish operations within India’s International Financial Services Centres (IFSCs) and was officially launched in Ahmedabad.
Developed under the guidance of the International Financial Services Centres Authority (IFSCA), SWIT is a state-of-the-art online platform designed to provide a seamless and efficient experience for entities looking to set up operations in these specialized financial zones. The platform streamlines bureaucratic procedures and enhances transparency, facilitating faster and more efficient processes for companies. This innovation significantly boosts India's attractiveness as a global financial hub by reducing the time and effort required to commence operations in the IFSCs.
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The platform was inaugurated by Honourable Prime Minister Shri Narendra Modi on September 16, 2024, in Ahmedabad. The successful development of SWIT underscores Dev IT’s capability to deliver cutting-edge digital solutions. This achievement not only reinforces the company's leadership in digital transformation but also paves the way for high-impact projects across various sectors, including healthcare, e-governance, and retail, where streamlined systems can improve operational efficiency.
By undertaking a project of such national significance, Dev IT has further solidified its reputation as a trusted partner for mission-critical IT solutions. The success of the platform emphasizes the company's client-centric approach, positioning it as the preferred provider for businesses seeking tailored digital transformation solutions.
Looking ahead, SWIT is expected to be a key growth driver for Dev IT as India’s IT services sector continues to expand. With its expertise, innovation, and commitment to delivering value through technology, Dev IT is well-equipped to capitalize on new opportunities and strengthen its leadership in the global IT services arena.
Incorporated in 1997, This Small-Cap company specializes in IT-enabled services. As a leading Technology Solutions Provider, DEVIT focuses on Digital Transformation through Cloud, Automation, and Data technologies.
On Tuesday, the shares of Dev Information Technology Ltd closed at around Rs 127.95 per share on the BSE. The company’s current market capitalization stands at Rs 287.69 crore.
As per the Quarterly Results, in Q1 FY25, Dev Information Technology Ltd recorded a revenue of Rs 35.46 crore compared to Rs 60.46 crore same quarter last year. The operating profit stood at Rs 5.79 crore. The net profit stood at Rs 3.71 crore compared to a profit of Rs 1.83 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 164 crore in FY24. The operating profit for FY24 was Rs 14 crore with a net profit of Rs 9 crore compared to a net profit of Rs 9 crore in FY23.
Investors must keep this micro-cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.