Multibagger IT-Company Receives Order Worth Rs 2,40,00,000 From National Informatics Centre Services
The is up by 40 per cent from its 52-week low of Rs 94.10 per share and gave multibagger returns of 465 per cent in 5 years
DEV Information Technology Limited (DEV IT) has secured a significant order worth approximately Rs 2,40,00,000 from the National Informatics Centre Services, a Government of India undertaking, for the Lok Sabha Secretariat project. This domestic, fixed-cost order encompasses the design, development, implementation, and maintenance of application software and a website. The project is expected to be executed within a timeframe of approximately nine months to one year.
About the Company
Founded in 1997, Dev IT has grown from a small-scale software provider to a global IT powerhouse. With a strong foundation in India and offices worldwide, the company offers many services, including cloud solutions, digital transformation, and enterprise applications. Known for its commitment to innovation and quality, Dev IT empowers businesses with cutting-edge technology. Their products, such as Talligence and ByteSIGNER, provide valuable tools for data analysis and document management. By understanding their client's unique needs, Dev IT delivers tailored solutions that drive business growth and success.
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According to the Quarterly Results, the total income increased by 51 per cent to Rs 48.15 crore and net profit increased by 6 per cent to Rs 1.82 crore in Q3FY25 compared to Q3FY24. In FY24, net sales increased by 32 per cent to Rs 163.58 crore and net profit increased by 5 per cent to Rs 9.48 crore compared to FY23.
The company has a market cap of Rs 289 crore. The is up by 40 per cent from its 52-week low of Rs 94.10 per share and gave multibagger returns of 465 per cent in 5 years. Investors should keep an eye on this IT stock.
Disclaimer: The article is for informational purposes only and not investment advice.