Newgen Software Technologies Limited has informed the Exchange about Bagging/Receiving of orders/contracts
NEWGEN · price
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Newgen Software has received and accepted a letter of award for a Retail Loan Origination Solution, covering software license, implementation, cloud hosting, and support. The order is from a leading bank in Malaysia (name kept confidential) and is valued at RM 6,750,000, which translates to approximately ₹15.65 crore at an exchange rate of RM 1 = INR 23.18. The contract is an international deal with a 5-year execution period. The customer is not related to the promoters or group companies. Newgen is required to disclose this under SEBI's Regulation 30, indicating it is considered a material event.
This is a positive development as it adds an international banking client in Malaysia, strengthening Newgen's geographic diversification and footprint in the ASEAN region. While the order size (~₹15.65 crore) is modest relative to overall revenue, the 5-year support and cloud hosting component provides recurring revenue visibility. Stock price impact is likely to be limited given the size, but it reinforces the company's export credentials.