Dev IT gains on bagging Rs 65 lakh work order from Gujarat CMO

Dev Information Technology (DEV IT) rose 3.64% to Rs 45 after the company announced that it has secured a work order worth Rs 65 lakh from the Chief Minister's Office (CMO), Government of Gujarat, through its nodal IT agency, Gujarat Informatics.

GIL, a Government of Gujarat undertaking under the Department of Science and Technology, has awarded the project for the deployment of the Microsoft Office suite, comprising office automation software tools. These tools will be implemented by DEV IT at the Chief Ministers Office to enhance the analytical and review capabilities of reports generated by the Chief Minister Office, Gujarat Government.

The total contract value is approximately Rs 65 lakh, with an execution timeline of around six months.

The company clarified that its promoters, promoter group, and group companies have no interest in the awarding entity. It also confirmed that the transaction does not qualify as a related party transaction under applicable regulatory norms.

Dev Information Technology (DEV IT) is in the business of providing IT-enabled services.

The company's consolidated net profit fell 40.2% to Rs 2.11 crore on 21.2% rise in revenue from operations to Rs 42.99 crore in Q1 FY26 over Q1 FY25.

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