Newgen Software's Saudi Arabia arm bags Rs 38-cr contract

Newgen Software Technologies said that its Saudi Arabia subsidiary has signed an agreement with a leading public sector bank in Saudi Arabia to design and develop a loan origination system.

The order covers the development of the loan origination system with a perpetual license, along with implementation and one year of post-go-live support services.

The aggregate value of the aforesaid award is SAR 15,982,125 (inclusive taxes) equivalent to approximately Rs 38.64 crore.

The company stated that the customers name has not been disclosed due to confidentiality reasons.

Newgen Software Technologies is a global software company and is engaged in the business of software product development, including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to document management to imaging.

The company reported a 16.2% jump in consolidated net profit to Rs 81.7 crore on an 11% increase in revenue from operations to Rs 400.8 crore in Q2 FY26 over Q2 FY25.

The counter rose 0.62% to end at Rs 862.85 on the BSE.

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