The order encompasses the license, implementation, and maintenance of the Loan Origination System (LOS), account opening, and document management system (DMS).
In a separate development, the company disclosed that its wholly owned subsidiary, Newgen Software Inc. (NSI), incorporated in the USA, has signed two Statement of Work (SOW) agreements with a customer. The combined value of these agreements is $1,675,000.
Both contracts are scheduled for completion within a span of five years. However, the company has not revealed the identity of the clients or specific project details in its exchange filing.
However, it confirmed that the order is a domestic contract and does not involve any related party transactions. Additionally, neither the promoters, promoter group, nor any group companies have any interest in the awarding entity.
Newgen Software Technologies is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and many more use cases across industries.
The company’s consolidated net profit surged 30.2% to Rs 89 crore in Q3 FY25 as against Rs 68.35 crore posted in Q3 FY24. Revenue from operations jumped 17.8% YoY to Rs 381.11 crore in the quarter ended 31 December 2024.
The counter declined 2.10% to Rs 973.95 on the BSE.