Dynacons Systems & Solutions Limited has secured a prestigious Device-as-a-Service (DaaS) project worth ₹74.99 crores from Jammu Kashmir Bank, marking a significant milestone in the company's growth trajectory. The announcement was made through a regulatory filing under Regulation 30 of SEBI Listing Regulations, highlighting the comprehensive nature of this five-year digital workplace solution.

Regulatory Compliance and Disclosure

The company has formally notified both NSE and BSE about this landmark project through proper regulatory channels. The intimation was filed pursuant to Regulation 30 and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Overview and Scope

The landmark project encompasses the deployment of advanced desktop infrastructure across Jammu Kashmir Bank's extensive network. The comprehensive solution demonstrates the scale and complexity of this digital transformation initiative.

Comprehensive Service Delivery Model

The Device-as-a-Service solution represents a comprehensive approach to IT infrastructure management. This initiative will modernize Jammu Kashmir Bank's IT ecosystem and support its vision for scalable, secure, and cost-efficient operations. The project covers the entire device lifecycle, including procurement, configuration, support, security updates, and e-waste management.

By adopting this Opex-based model, the bank will benefit from predictable costs and improved cash flow while significantly reducing the IT management burden. The solution will enable scalability to meet evolving business needs, support remote and hybrid work environments, and align seamlessly with the bank's digital transformation goals.

Client Profile and Strategic Impact

Jammu Kashmir Bank, headquartered in Srinagar, operates an extensive network across India with 1,000+ branches and 1,400+ ATMs. The bank leverages advanced IT infrastructure to connect all its offices and branches through a robust WAN network. This DaaS implementation will accelerate the bank's digital transformation and enhance customer experience capabilities.

According to Mr. Parag Dalal, Executive Director of Dynacons Systems & Solutions, this strategic partnership underscores the company's commitment to delivering cutting-edge workplace solutions that empower organizations to focus on growth while efficiently managing their IT infrastructure.

About Dynacons Systems & Solutions

Dynacons Systems & Solutions Limited is a 30-year-old IT company with global perspectives, headquartered in Mumbai with branches across India. The company maintains a large pool of technical resources present at more than 250 locations across India and holds industry-leading certifications including CMMI Level 5, ISO 9001, ISO 20000, and ISO 27000.

The company undertakes comprehensive IT infrastructure activities including infrastructure design and consulting services, turnkey systems integration, and setup of large Network and Data Centre infrastructures. Dynacons Systems & Solutions provides all service models including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS), offering end-to-end technology solutions across industry verticals.

Dynacons Systems & Solutions Ltd (Dynacons), a leading technology solutions provider in India, has announced a significant new contract win valued at ₹51.28 crores. The company has secured additional orders for its Advanced Core Banking as a Service (CBaaS) Solution along with Allied Applications for State and District Co-operative Banks, under the initiative of the National Bank for Agriculture and Rural Development (NABARD).

Contract Details

The newly secured contract builds upon Dynacons' existing collaboration with NABARD and focuses on implementing an advanced Core Banking Solution based on Infosys Finacle 10.2.25, utilizing the Application Service Provider (ASP) model. This project aims to enhance the technology infrastructure of rural cooperative banks, facilitating faster and easier credit delivery systems while promoting financial inclusion initiatives.

Scope of Work

The scope of the project includes:

• Migration of NABARD's Core Banking Solution (CBS) to Finacle 10.2.25
• Implementation of CBS (Finacle 10.2.25) on Dynacons Cloud
• Deployment of hardware, database, middleware, and network components
• Comprehensive testing phase
• Extensive maintenance support for NABARD and associated state cooperative banks

Project Highlights

Himachal Pradesh State Cooperative Bank Implementation

As part of this order, Dynacons will also implement its Core Banking as a Service Solution for the Himachal Pradesh State Cooperative Bank Ltd., headquartered in Shimla. This implementation will cover a network of 262 branches and 10 administrative offices.

Company Statement

Dynacons Systems & Solutions Ltd has confirmed that this contract does not fall under related party transactions, and neither the promoter nor the promoter group has any interest in the entities awarding the order.

This new contract reinforces Dynacons' position in the financial technology sector and demonstrates its capability to deliver advanced banking solutions to cooperative banks across India. The project aligns with NABARD's initiative to modernize rural financial institutions and promote financial inclusion through technology adoption.