Dev Information Technology has officially announced securing a significant work order worth ₹26 crore from National Informatics Centre Services Incorporated (NICSI) for the Pharmacy Council of India project. The company made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlighting the strategic importance of this contract win.

Official Regulatory Filing and Leadership Commentary

The company submitted its formal regulatory filing on April 10th, with Company Secretary Krisa Shah executing the disclosure to both NSE and BSE. The announcement includes comprehensive project specifications and reflects the company's growing capabilities in government digital transformation initiatives.

Commenting on the order win, Mr. Pranav Pandya, Chairman of Dev Information Technology Limited, stated: "This mandate reflects our capability to deliver large-scale, integrated digital solutions with strong execution discipline and reliability. We remain focused on scaling our presence in high-value digital infrastructure programs and driving sustainable growth."

Project Scope and Technical Services

The comprehensive order encompasses multiple technology services designed to modernize the National Pharmacists Registration Tracking System of the Pharmacy Council of India. The project scope includes:

• Design, development, integration, and maintenance of software/applications/platforms
• Cybersecurity services for existing IT infrastructure
• Web-based software infrastructure development
• Maintenance of applications for the National Pharmacists Registration Tracking System

Contract Specifications

Financial Performance Context

The company's strong financial foundation supports its ability to execute large-scale projects. In Consolidated FY25, Dev Information Technology reported Total Income of ₹1,839.09 million, EBITDA of ₹237.18 million and Net Profit of ₹147.80 million, demonstrating robust operational performance.

Strategic Market Position

This substantial contract reinforces Dev Information Technology's capabilities in the government technology services sector. Working with the Pharmacy Council of India, a statutory body of the Government of India, demonstrates the company's ability to handle critical regulatory technology infrastructure projects.

The three-year project timeline provides revenue visibility and establishes a long-term partnership with NICSI, positioning the company for potential future opportunities in government digitization initiatives. The inclusion of cybersecurity services alongside traditional software development showcases the company's comprehensive technology expertise in addressing modern digital infrastructure requirements.

Dev Information Technology Limited announced significant corporate developments following board meetings held on March 27 and March 31, 2026. The company approved multiple strategic initiatives including employee stock option allotments, strategic investment in Byte Technosys Private Limited, corporate guarantee for its subsidiary, and a major slump sale transaction worth Rs. 11.90 crores.

Major Slump Sale Transaction Approved

The board of directors, based on the audit committee's recommendation, approved the slump sale of ByteSIGNER and Talligence products to Byte Technosys Private Limited, an associate company, effective March 31, 2026. The company issued an official press release under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, announcing the strategic transfer.

The products contributed Rs. 3.97 lakhs (0.021% of consolidated revenue) in FY 2024-25, with a total net asset value of approximately Rs. 8.75 crores, representing 12.74% of the company's total net worth. The transaction is structured as a standalone slump sale, not pursuant to any merger or amalgamation, and qualifies as a related party transaction executed on an arm's length basis.

Strategic Rationale Behind the Transfer

According to the company's management, this strategic move aims to simplify the organizational structure and sharpen focus on core business areas. The transfer is designed to enhance operational efficiency, eliminate redundancies, and improve go-to-market alignment while enabling more effective resource allocation. The transaction is expected to support margin improvement through cost efficiencies and strengthen oversight through a simplified structure.

ESOP Allotment Under Employee Stock Option Plan

The Nomination and Remuneration Committee approved the allotment of 28,482 equity shares under the "Dev Information Technology Limited Employee Stock Option Plan – 2018" to eligible employees. The allotment parameters are:

The stock options were originally granted on January 17, 2025, with subsequent adjustments following a stock split effective August 21, 2025. The allotted shares rank pari passu with existing equity shares.

Strategic Investment in Byte Technosys Private Limited

The board approved investment in 3,986 equity shares of Byte Technosys Private Limited, engaged in IT infrastructure management services. The investment structure includes:

Byte Technosys Private Limited's financial performance shows turnover of Rs. 729.98 in FY 2024-25, compared to nil in FY 2023-24 and Rs. 49.78 in FY 2022-23. The entity specializes in IT infrastructure management services, including remote server monitoring, helpdesk support and other computer-related services, along with software development and IT consultancy.

Corporate Guarantee and Capital Structure Updates

The board approved extending a corporate guarantee up to Rs. 130.75 lakhs for wholly owned subsidiary Dhayey Consulting Services Private Limited to secure working capital facilities from The Kalupur Commercial Co-op Bank.

Following the ESOP allotment, the company's updated capital structure shows 5,63,63,714 shares with paid-up capital of Rs. 11,27,27,428. The slump sale transaction, conducted on an arm's length basis with related party compliance, aims to drive operational efficiencies, unlock financial synergies, and position both entities for accelerated growth through streamlined operations and enhanced market reach.