Novus Loyalty Secures ₹88 Crore Order from Central Bank of India
Novus Loyalty gains on bagging Rs 88-cr order from Central Bank of India
Business Standard
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Novus Loyalty's shares rose by 4.75% to ₹188.50 following the announcement of an ₹88 crore service level agreement with Central Bank of India. The three-year contract will enhance loyalty rewards programs across various digital channels, marking a significant step for the tech-driven company.
- 01Novus Loyalty shares increased by 4.75% to ₹188.50 after securing a significant contract.
- 02The ₹88 crore agreement with Central Bank of India involves managing loyalty rewards programs.
- 03The contract is set to be executed over three years, enhancing customer engagement.
- 04Novus Loyalty specializes in technology-driven loyalty solutions for various industries.
- 05Central Bank of India reported a 31.67% increase in net profit for Q3 FY26.
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Novus Loyalty's shares surged by 4.75% to ₹188.50 after the company announced a service level agreement (SLA) worth ₹88 crore with Central Bank of India. This contract entails providing and managing loyalty rewards programs across multiple digital channels, including debit cards, UPI, internet banking, and mobile banking. The agreement, which will be executed over a period of three years, includes migrating the existing program, platform deployment, and ongoing support services. Novus Loyalty, known for its technology-driven loyalty solutions, aims to enhance customer engagement, retention, and acquisition across industries such as fintech and banking. The company recorded revenues of ₹71.41 crore and a net profit of ₹5.80 crore for the period ending September 30, 2025. Meanwhile, Central Bank of India reported a 31.67% increase in net profit to ₹1,262.60 crore in Q3 FY26 compared to the same period last year.
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This contract will enhance loyalty rewards programs, potentially increasing customer engagement for Central Bank of India and benefiting Novus Loyalty's business growth.
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