Newgen Software reports withdrawal of Kuwait BPM platform tender

IT firm Newgen Software Technologies Ltd on Friday (December 5) announced that an overseas entity in Kuwait has withdrawn its tender for the implementation of a business process management (BPM) platform.

The project carried a commercial value of KWD (Kuwaiti dinar) 1,736,052 as disclosed earlier by the company on September 30, 2025, following receipt of the letter of award.

In a regulatory filing, Newgen stated that the tender withdrawal was communicated without any disclosed reason. The company further

confirmed that no prior communication was received from the entity before the withdrawal notice. Newgen added that it will be taking up the matter with the concerned entity in the coming days.

Also Read: Newgen Software shares surge 6% after bagging international and domestic contracts

Last month, Newgen Software's wholly-owned subsidiary, Newgen Software Technologies (UK) Ltd executed a master services agreement with a customer for Newgen Software licences, AWS managed cloud services and implementation services.

As per the order, Newgen will offer its contract management platform across the enterprise, helping users create and manage policy documents. The three-year contract is valued at £1.5 million, according to the exchange filing.

Also Read: Newgen Software Q2 Results: Net profit grows 64% from June, margins expand

Newgen Software reported revenue growth of 25% on a sequential basis during the September quarter, while its earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter doubled from the June quarter.

The EBITDA margin expanded to 25.5% from just 14% in the previous quarter. For the first half of the current financial year, Newgen Software's revenue grew by 6.7%, while its net profit grew by 11.7%.

Shares of Newgen Software Technologies Ltd ended at ₹878.60, down by ₹23.40, or 2.59%, on the BSE today, December 5.