Newgen Software Secures Rs. 38.64 Crore Order in Saudi Arabia
Filing Summary
Newgen Software Technologies Limited has announced a material order valued at Rs. 38.64 crore. The order, secured by its wholly-owned subsidiary in Saudi Arabia, involves designing and developing a loan origination system for a leading public sector bank in the region. The contract includes a perpetual license, implementation, and one-year support services. The project is scheduled for completion within two years. This transaction does not involve any related party interest as per the Companies Act, 2013. The event was recorded on December 14, 2025, at 3:34 PM IST.
Newgen Software Technologies Limited has disclosed a material order valued at Rs. 38.64 crore. The order was secured by Newgen Software Technologies Company Limited, a wholly-owned subsidiary incorporated in Saudi Arabia. The agreement involves the design and development of a loan origination system for a leading public sector bank in Saudi Arabia. The customer’s name remains confidential due to privacy agreements.
The contract specifies a perpetual license, implementation, and one-year support services post go-live. The project is expected to be executed within a timeframe of two years. The total value of the contract is SAR 15,982,125, inclusive of taxes, which converts to Rs. 38.64 crore.
According to the filing, the transaction does not qualify as a related party transaction under the Companies Act, 2013. There is no interest from the promoter or promoter group in the entity awarding the contract. The event was officially recorded on December 14, 2025, at 3:34 PM IST.
Newgen Software Technologies Limited specializes in providing software solutions for business process management, enterprise content management, and customer communication management. The company focuses on delivering innovative solutions to enhance business efficiency and customer engagement across various industries.