Multibagger Stock Under Rs 120: This IT-Company Receives Order Worth Rs 1,40,00,000 From National Informatics Centre Services Incorporated (NICSI)
The stock gave returns of 12 per cent in 1 year and 230 per cent in last 5 years.
Dev Information Technology has secured a new order worth Rs 1.4 crore from the National Informatics Centre Services Incorporated (NICSI), a Government of India unit, according to a Wednesday filing to the indian stock exchanges.
The contract is for the design, development, implementation operation and maintenance of integrated finance management system 3.0 for the office of the Directorate of Treasuries and Accounts, Jaipur (Government of Rajasthan). The project is expected to be executed in three months.
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Commenting on the order, Mr. Pranav Pandya, Founder & Chairman of DEV IT Limited said, "Securing this prestigious contract from NICSI reinforces DEV IT’s commitment to delivering cutting-edge IT solutions that empower government institutions with efficiency, transparency, and technological excellence. Our extensive expertise in enterprise applications, cloud services, and digital transformation enables us to undertake such complex, mission-critical projects with precision and reliability.
This project adds to our recent wins, including the Rajya Sabha and Lok Shabha Secretariat order for application software and website development, as well as the GEDA (Gujarat Energy Development Agency) contract for digitization and document management system.
At DEV IT, we strongly believe in the transformative power of technology, and these projects aligns perfectly with our vision of driving digital empowerment across public sector enterprises. We are confident that our collaborative approach will ensure the successful execution of IFMS 3.0. This achievement further strengthens our position as a trusted technology partner for government agencies, reinforcing our legacy of innovation and excellence in IT services."
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.
Incorporated in 1997, Dev Information Technology Ltd is in the business of providing IT enabled services.
On Thursday, shares of Dev Information Technology Ltd jumped over 0.2 per cent to Rs 118 per share from its previous closing. The stock gave returns of 12 per cent in just 1 year and 230 per cent in last 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.