Austere Systems wins ₹1.86 Cr order from HDFC Bank for MIS

Austere Systems Limited has secured a work order worth ₹1.86 crore from HDFC Bank for the implementation of a Management Information System (MIS). The contract was awarded by a domestic entity, marking a significant business development for the IT solutions provider. The company disclosed this development to the stock exchanges on July 7, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The aggregate value of the order stands at ₹1,86,60,000. The project involves the deployment of MIS capabilities for the banking sector client. This order intake is expected to contribute to the company's revenue stream in the upcoming financial periods.

Order Details

The specifics of the contract were outlined in the regulatory filing submitted to BSE Limited. The following table summarizes the key particulars of the transaction:

Particulars	Details
Name of the entity awarding the order	HDFC Bank Limited
Type of entity	Domestic Entity
Nature of the order	Management Information System (MIS)
Order value	₹1,86,60,000

The intimation was signed and submitted by Piyush Gupta, Director & CFO of Austere Systems Limited. The filing confirmed that the procedural formalities regarding the disclosure of the order have been completed.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	+0.65%	-7.91%	-3.67%	-45.44%	-45.44%

Austere Systems Limited has incorporated a wholly-owned subsidiary, Austere Next Private Limited, on June 25, 2026, to expand its operations in the software development sector. The new entity is classified as a related party and will focus on software development, software as a service (SAAS), and mobile application development. Austere Systems holds a 51% shareholding in the subsidiary through cash consideration.

The incorporation was disclosed to BSE Limited pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no specific governmental or regulatory approvals were required for this acquisition. The subsidiary is registered in India and will operate under the broader umbrella of Austere Systems' existing business verticals.

Details of the Subsidiary

Particulars	Details
Name of the Entity	Austere Next Private Limited
Date of Incorporation	June 25, 2026
Country of Incorporation	India
Industry	Software Development
Percentage of Shareholding	51%
Nature of Consideration	Cash consideration

The board of Austere Systems approved the strategic move to bolster its capabilities in the SAAS and mobile application domains. The subsidiary's activities are expected to complement the parent company's current service offerings. The filing was signed by Piyush Gupta, Director & CFO of Austere Systems Limited.