Saudi Arabian subsidiary of this multibagger stock secures USD 13,00,000 deal for Digital Transformation!

The stock has delivered multibagger returns to its shareholders in the last one year where it logged 281.76 per cent gains.

Newgen Software Technologies' wholly owned subsidiary, Newgen Software Technologies Company Limited, operating under the laws of the Kingdom of Saudi Arabia, has inked significant agreements with a client aimed at revolutionizing their Card Origination Business through digital solutions. The combined value of these agreements stands at a substantial USD 13,00,000.

The specifics of the deal are as follows:

Nature of Entity: The contract has been awarded by an international entity, marking a notable achievement for Newgen's global reach and recognition.

Execution Timeline: The contractual obligations are set to be fulfilled within a year, emphasizing the efficiency and timeliness of Newgen's service delivery.

Promoter Interest: There are no reported interests of the promoter/promoter group/group companies in the entity awarding the contract.

This development underscores Newgen Software Technologies' prowess in delivering cutting-edge digital transformation solutions and solidifies its position as a trusted partner in enabling businesses to adapt to the evolving digital landscape.

The company posted strong Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 323.65 crore which grew by 26.97 per cent YoY. The operating profit of the company stood at Rs 88.20 crore, while the PAT of the company stood at Rs 68.35 crore, representing an impressive growth of 44.48 per cent YoY.

Newgen Software Technologies Limited has also delivered multibagger returns to its shareholders in the last one year where it logged 281.76 per cent gains.

Newgen Software Technologies is a software products company which offers a platform that enables organisations to rapidly develop powerful applications addressing their strategic business needs. The company recently completed 30 years. The applications created on its platform enable organizations to drive digital transformation and competitive differentiation.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.