Synopsis: DEV Information Technology bags Rs 26 Cr NICSI contract for Pharmacy Council India’s digital pharmacist registration system, cybersecurity. Stock surges 8%. More gov IT wins ahead?
Company has secured a significant work order from National Informatics Centre Services Incorporated (NICSI). NICSI awarded the contract on behalf of the Pharmacy Council of India (PCI). PCI is a statutory body under the Government of India. The order marks a strong addition to DEVIT’s growing list of government contracts.
The contract is valued at approximately Rs. 26 crore. DEV Information Technology’s Limited’s stock, with a market capitalisation of Rs. 162 crores, rose Rs. 29.68, up 8.08 percent from its previous closing price of Rs. 27.46. Furthermore, the stock over the past year has given a negative return of 31.3 percent.
The project covers the design, development, integration, and maintenance of software applications and platforms. DEVIT will also handle cybersecurity services for PCI’s existing IT infrastructure. Furthermore, the company will build and maintain web-based software for the National Pharmacists Registration Tracking System. This system will help track and manage pharmacist registrations across the country. The scope of work is both broad and technically demanding.
This is a domestic, fixed-cost contract. DEVIT must complete the project within approximately three years. The order comes from a government entity, making it a stable and assured source of revenue. Therefore, the contract adds solid visibility to the company’s near-term earnings pipeline.
The Pharmacy Council of India regulates pharmacists across India. A digital registration tracking system will bring more transparency and efficiency to the process. Consequently, this project carries national importance. DEVIT’s role in building and securing this infrastructure places it at the centre of a key public health initiative. Moreover, winning a government-backed NICSI order adds credibility to the company’s capabilities.
The contract strengthens DEVIT’s position in the government IT services space. The company provides end-to-end IT services, including cloud computing, digital transformation, and enterprise applications, serving public and private sector clients.
Groww Thus, the PCI order fits well within its core expertise. As government agencies increasingly digitise their operations, DEVIT appears well-placed to capture more such opportunities. The Rs. 26 crore contract is a meaningful step in that direction.
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