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Dev Information Technology Ltd.

BSE: 543462 Sector: IT
NSE: DEVIT ISIN Code: INE060X01018
BSE 00:00 | 08 Aug 199.45 2.05
(1.04%)
OPEN

201.05

HIGH

203.20

LOW

196.35

NSE 00:00 | 08 Aug 199.80
(%)
OPEN

196.00

HIGH

203.10

LOW

196.00

OPEN 201.05
PREVIOUS CLOSE 197.40
VOLUME 3462
52-Week high 226.40
52-Week low 103.05
P/E 115.29
Mkt Cap.(Rs cr) 220
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 201.05
CLOSE 197.40
VOLUME 3462
52-Week high 226.40
52-Week low 103.05
P/E 115.29
Mkt Cap.(Rs cr) 220
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dev Information Technology Ltd. (DEVIT) - Chairman Speech

Company chairman speech

Dear DEV IT family

Greetings on behalf of Team DEV IT

Dev Information Technology Ltd. Annual Report 2017-18 while we celebrated 20thanniversary in December 2017 we are also turning One! what I am citing is the fact thatDEV IT as public listed company turned One. In that sense DEV IT is as aggressive andfresh as a Start-up. Therefore the environment that DEV IT has imbibed is of letting newideas plans and strategies flow unbounded from all the ranks of Team DEV IT so that asfar as possible nothing worthy is missed out by our internal research team DEV LABS.Thanks to this approach in fact our vision of making it a concurrent and thriving companyis alive and the same is evident by palpable effervescence flowing all across the company.

While referring to my message in last year Annual Report I would like to state thatthe Year FY 17-18 inherited many interesting exciting and business driving events as wellactivities that DEV IT was involved into in FY16-17. The same underlying current ofinteresting happenings and dynamism continued for DEV IT during FY 17-18 too. Theincredible thrust of positivity among the entire community of Team DEV IT was receivedwhen we went public in April 2017. Especially the crescendo of positive business thrustthat we experienced during Bell Ringing Ceremony on April 172017 with subsequentacceptance of the market kept the fantastic sentiment of positivity alive in all thebusiness achievements the company during the entire FY 17-18.

The jewel in the crown was our efforts to come up with

Start-up incubator accelerator and Co Working place

DEV X with its state of the art set-up has turned into superb success story and hascreated great buzz in the market. In fact entire IT Market dynamics across the countrystarted looking at Gujarat with renewed interest with this facility under the mentorshipof DEV

IT. The said facilities include provision of co working space and accelerator programthereby reducing operations and capital cost of a business and availing mentorship. Suchvalue added approach has proved to be outright win-win situation proposition for both thesides i.e. Start-ups as well as DEV X-DEV IT combination

The classic IT Service portfolio advocated by DEV IT since last few years continuedits good run of year on year growth in domestic as well as international market in FY17-18. Further inclusion of new service lines - Business Intelligence (BI) MobilityCRM Cloud Services Cyber Security; has helped addressing International Markets. At thesame time our strategy of replicating e-Gov Solutions in newer geography within India andSmart City Bespoke solutions also found very promising and growth oriented traction forDEV IT.

Inclusion of the said new service lines was powered by DEV IT's belief rhyming with MrStephen hawking's thought that "Intelligence is the ability to adapt to change".In fact Business Intelligence practise is opening out very exciting International anddomestic business growth avenues for DEV IT in zones of Machine Learning ArtificialIntelligence and Internet of Things. The said service lines will surely be the gamechanger in coming few years and hence as these disruptive technologies based service lineera unveils at a very fast pace DEV IT has already geared up its capacity building toensure readiness. This is clearly reflected in NASSCOM's list of top ten early adopters ofFuture Skills programme where DEV IT is proud to hold a position.

Such disruption in technology also spells out responsibility of technology serviceproviders to be at forefront in terms of taking care of the fact that technology shouldnever surmount the humane angle. hence Nature as well as humanity should be paramountwhile we as technology service provider participate in creation and research of newtechnology frontiers. Team DEV IT is extremely dedicated and aware on this aspect whilerhyming the thoughts of "dataism" and "techno humanism" as stated byFuturist Yuval Noah harari. The clients are aligned right from the word ‘Go' withholistic evaluation before we carry out the implementation. hence in true sense we tryour utmost to adhere with the meaning of "partners . in progress" which is alsoa key behind year-on-year business relationship growth with our clients.

Our philosophy "People First; Business Always" is at heart of everyinteraction as well as actions that Team DEV IT carries out. This motto fosters sense ofownership as well as diligence and dedication to take the company towards positive"heights of Next" and together we have been able to achieve and win manyaccolades as well as awards from the industry in FY 17-18.

All the positives cited above has realised for company noteworthy performance again forthe year FY 17-18 with turnover clocking at Rs. 67.32 crore and year-on-year growth of18.39 %.

hence on behalf of the company I am very Thankful to all the Personnel of DEV IT ourever vigilant Independent Directors for their mentorship and value added inputs towardsmanagement aspects our Business Patrons and Clients Business Colleagues and AssociatesFamily elders and Friends for bestowing all the support and encouragement leading ustowards the Business Growth.

A Big and very special thanks as well as acknowledgements to DEV IT Shareholder familyfor having belief in our business acumen strategy strength and plans which has securedDEV IT an image of very aspiring and faith laden publicly traded company. we sincerelybelieve and welcome value added inputs from the shareholder family which can translateinto a positive proposition for Team DEV IT.

It gives me immense pleasure in the above stated backdrop to place before you the21st Annual Report for the Financial Year 2017-18.

Last but not the least please allow me to convey vote of thanks to all the DirectorsKey Managerial Personnel shareholders customers bankers financial advisors andauditors and "DEV ITians" for their continued support faith and trust in thecompany governance which I am sure will continue to be there in the times to come.

With warm Regards

DEV INfORMATION TECHNOLOGY LIMITED.

PRANAV N. PANDYA

CHAIRMAN

.