Newgen Software Technologies Secures 4 Key Contracts Worth ₹208.98 Crore & USD 3.47 Million
Newgen Software Technologies Secures Four Major Contracts Worth INR 208.98 Crore & USD 3.47 Million
Newgen Software Technologies Limited (NSTL) secured four significant contracts on December 31, 2024, marking a strong conclusion to the year. The company disclosed each contract separately, showcasing its diverse offerings and global reach.
Key Contract Details:
Domestic Contract:
- Scope: Newgen Remittance System
- Value: INR 208,978,000 (inclusive of taxes)
- Duration: 1 year
- Description: Highlights NSTL’s expertise in providing financial software solutions within India.
US Subsidiary – Newgen Software Inc. (NSI):
- Scope: Digital Account Opening, Retail Loans, ECM, Collection Upgrade Services
- Value: USD 1,829,019
- Duration: 2 years
- Description: Demonstrates NSTL’s specialization in digital transformation solutions for the financial sector.
Singapore Subsidiary – Newgen Software Technologies Pte. Ltd.:
- Scope: Knowledge and Records Management System (KRMS)
- Value: SGD 17,47,298
- Duration: 4.5 years
- Description: Reflects NSTL’s long-term engagement strategy in the Southeast Asian market.
International Contract:
- Scope: Credit Automation Services
- Value: USD 1,643,256 (inclusive of taxes)
- Duration: 5 years
- Description: Further strengthens NSTL’s position as a leader in automation solutions globally.
Additional Information:
- Disclosure Timeframe: Between 4:40 PM and 7:55 PM IST on December 31, 2024.
- Related Party Transactions: NSTL confirmed that none of the contracts involve related parties as defined by the Companies Act, 2013.
These contracts highlight NSTL’s success in capturing market opportunities across various geographies and service domains.