Shares of Dev Information Technology Ltd soared 6% on 22 July after the company announced securing an order worth Rs 1.29 crore from NICSI for the Integrated Financial Management System. 

According to an exchange filing, the company has received a key order from the National Informatics Centre Services Incorporated (NICSI) to develop an Integrated Financial Management System (IFMS). The R 1.29 crore project intends to digitise and improve the state’s financial management activities, according to the statement. 

The IFMS will be a comprehensive digital platform that will handle a variety of core financial functions such as pension and employee management, works accounts, a bank disbursement engine, core treasury operations, online bill payments, and budget and expense management. The project also covers the development of mobile applications and other IFMS-related components.

The project is expected to be completed within two to three months, according to the statement.

“Securing this project highlights DEVIT’s proven capabilities in delivering complex, large-scale government technology solutions,” the company said in the filing. “Our success is rooted in a deep understanding of the client’s operational needs, a customised and innovative approach to solution design, and a strong, collaborative delivery model.”

Dev IT was founded in 1997 and is listed on both the NSE and the BSE. It has developed from a modest business automation software provider to a multinational IT services company. 

The company is headquartered in Ahmedabad and has offices throughout India and Canada. Its focus is on delivering digital transformation through continuous innovation, technological expertise, and a client-centric approach. 
 
Dev IT works together with clients to understand their objectives and provide specialised IT solutions that help them succeed. 
 
The company provides a variety of services, such as Cloud Services, Digital Transformation, Enterprise Applications, Managed IT Services, and Application Development.

At 3:30 pm, the shares of Dev IT closed 5.58% higher at Rs 119.50 on NSE.

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