Penny stock under Rs 50 with Rs 50+ crore order book: IT company bags order of Rs 40,00,000 from NICSI, a Government of India Enterprise

DSIJ Intelligence-1 / 16 Sep 2025/ Categories: Penny Stocks, Trending

Penny stock under Rs 50 with Rs 50+ crore order book: IT company bags order of Rs 40,00,000 from NICSI, a Government of India Enterprise

The is up by 26.2 per cent from its 52-week low of Rs 35.26 per share and gave multibagger returns of over 300 per cent in 5 years.

DEV Information Technology Ltd (DEVIT) has bagged a significant order from National Informatics Centre Services Incorporated (NICSI). The domestic project, titled "Cooperative Management System 2.0 (Raj Sahakar)," is for the Rajasthan State Government and involves the development, enhancement, and maintenance of the CM OTS 2025 module. This initiative aims to digitise and streamline the settlement of overdue loans within cooperative societies.

The contract is a fixed-cost project valued at approximately Rs 40 lakh. DEVIT has a projected timeline of around 12 months to complete the execution of this project. The collaboration with NICSI underscores the company's role in providing IT solutions for government initiatives aimed at urban and financial reforms.

About the Company

Founded in 1997, Dev IT has grown from a small-scale software provider to a global IT powerhouse. With a strong foundation in India and offices worldwide, the company offers many services, including cloud solutions, digital transformation, and enterprise applications. Known for its commitment to innovation and quality, Dev IT empowers businesses with cutting-edge technology. Their products, such as Talligence and ByteSIGNER, provide valuable tools for data analysis and document management. By understanding their clients' unique needs, Dev IT delivers tailored solutions that drive business growth and success.

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According to the Quarterly Results, the revenue increased by 21.2 per cent to Rs 42.99 crore and net profit decreased by 41.2 per cent to Rs 2.18 crore in Q1FY26 compared to Q1FY25. In FY25, net sales increased by 4 per cent to Rs 171 crore and net profit increased by 67 per cent to Rs 15 crore compared to FY24.

The company's stock ex-traded stock split/sub-division of its equity shares on August 21, 2025, with each existing share of face value Rs 5 splitting into two shares of face value Rs 2. The company has a market cap of over Rs 240 crore and has an order book of over Rs 50 crore. The is up by 26.2 per cent from its 52-week low of Rs 35.26 per share and gave multibagger returns of over 300 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.