Newgen Software Technologies has secured a significant order worth ₹15.59 crore from Annapurna Finance Private Limited. The contract includes implementation and maintenance of a Loan Origination and Collections System over five years.
Newgen Software Secures ₹15.59 Crore Order from Annapurna Finance
Newgen Software Technologies Ltd has announced receiving a purchase order worth ₹15.59 crore from Annapurna Finance Private Limited. The contract is for the implementation and maintenance of a Loan Origination and Collections System.
Reader Takeaway: New business win provides revenue visibility; no related party concerns.
What just happened
Newgen Software Technologies has accepted a ₹15.59 crore order from Annapurna Finance Private Limited. This order is for a Loan Origination and Collections System, including implementation and five years of maintenance.
Why this matters
The deal brings in new business for Newgen Software, enhancing its revenue visibility over the next five years. It reinforces the company's presence in the financial services sector. The contract is confirmed as a non-related party transaction.
The backstory
Newgen Software Technologies is a provider of Business Process Management (BPM), Digital Process Automation (DPA), and Low-Code solutions. The company serves various industries, including banking, finance, and insurance.
What changes now
This order adds to Newgen Software's order book, contributing to its service revenue over the next five years. The company will focus on implementing and maintaining the specified systems for Annapurna Finance.
Risks to watch
No specific risks related to this transaction were disclosed in the filing.
Peer comparison
Newgen Software operates in the enterprise software solutions space, competing with other domestic and international players offering similar BPM and DPA solutions. Competitors include Infosys, TCS, Wipro, and specialized software providers in the lending and collections space.
Context metrics (time-bound)
The contract value is ₹15.59 crore, which translates to ₹1,559.21 lakh. The agreement includes a perpetual license and a 5-year duration for implementation and maintenance.