Newgen Software lands contracts worth ₹56 crore in India and abroad

Leading business process management solutions provider Newgen Software Technologies Ltd on Monday (December 15) said its wholly-owned subsidiary in Saudi Arabia has signed an agreement with a public sector

bank for designing and developing a loan origination system, valued at SAR (Saudi riyal) 15,982,125 (₹38.64 crore inclusive of taxes).

The contract involves a perpetual licence, implementation, and one year of support services post go-live. The total execution period for the project is two years. The customer’s name has been withheld due to confidentiality reasons.

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In addition, the company has received and accepted a domestic order worth ₹16.53 crore from a leading Indian bank for the supply, installation, customisation, and maintenance of a digital lending platform. The duration of this contract is five years, and Newgen will handle end-to-end responsibilities under the agreement. The customer’s name has also been kept confidential.

For both contracts, Newgen Software stated that neither the promoter nor the promoter group has any interest in the entities awarding the contracts. Shares of Newgen Software Technologies Ltd ended at ₹862.55, up by ₹5.45, or 0.64%, on the BSE today, December 15.

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