Dev IT Secures ₹26 Crore Order, Shares Surge
Dev IT gains on bagging Rs 26-cr order
Business Standard
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Dev Information Technology (Dev IT) shares rose by 5.68% to ₹31.25 after securing a ₹26 crore order from the National Informatics Centre Services Incorporated (NICSI). The project involves developing a centralized system for pharmacist registration and tracking in India, expected to be completed over three years.
- 01Dev IT's shares increased by 5.68% following the order announcement.
- 02The ₹26 crore order is from the National Informatics Centre Services Incorporated (NICSI).
- 03The project focuses on the National Pharmacists Registration Tracking System under the Pharmacy Council of India.
- 04Dev IT aims to enhance its presence in government and enterprise digital transformation initiatives.
- 05The company reported a consolidated net loss of ₹7.27 crore in Q3 FY26.
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Dev Information Technology (Dev IT) experienced a 5.68% surge in its share price, reaching ₹31.25, after announcing a ₹26 crore order from the National Informatics Centre Services Incorporated (NICSI). This order involves the development of the National Pharmacists Registration Tracking System (NPRTS) under the Pharmacy Council of India (PCI). The project encompasses design, development, system integration, and maintenance of the platform, alongside implementing cybersecurity measures for existing IT infrastructure. The contract is fixed-cost and expected to be executed over approximately three years, providing medium-term revenue visibility. Pranav Pandya, Chairman of Dev IT, emphasized the company's commitment to delivering large-scale digital solutions and strengthening its order pipeline in high-value engagements. Despite the positive order news, Dev IT reported a consolidated net loss of ₹7.27 crore in Q3 FY26, compared to a net profit of ₹1.73 crore in Q3 FY25, with a 7.5% year-on-year decline in revenue from operations to ₹44.14 crore.
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This project is expected to enhance the efficiency of pharmacist registration and tracking, benefiting healthcare professionals and regulatory bodies in India.
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