Dev Information Technology Limited (DEVIT) has officially announced the receipt of a significant work order from Gujarat International Finance Tec-City Company Limited (GIFTCL). The intimation, filed under Regulation 30 of SEBI regulations on May 7, 2026, details a contract for the development of advanced digital infrastructure for GIFT City. This project is structured as a domestic, fixed-cost agreement aimed at enhancing technological engagement within India’s premier financial hub.

The awarded contract involves the design, development, and implementation of a dedicated GIFT City web portal alongside a sophisticated Digital Twin platform. This platform is designed to provide real-time visualization and project monitoring, while also offering a digital walkthrough experience for citizens. Valued at approximately 2.79 Crores (excluding GST), the project carries an execution timeline of roughly two years. Following the “go-live” phase, DEVIT will also provide Annual Maintenance Contract (AMC) support to ensure continuous operational enhancements.

Founded in 1997, DEV Information Technology Limited is a technology solutions provider specializing in digital transformation, cloud services, and managed IT services. In early 2025, the company achieved a milestone by securing all six Microsoft Solutions Partner Designations through its subsidiary, Dhyey Consulting Services, placing it among an elite group of partners in India. Beyond the GIFT City project, the company recently secured a substantial 26 Crores order from National Informatics Centre Services Incorporated (NICSI) for the Pharmacy Council of India, covering software development and cybersecurity services. The company continues to expand its footprint across Gujarat, Maharashtra, Rajasthan, and Canada.

For the quarter ended December 2025 (Q3 FY26), the company reported a consolidated revenue of 44.86 Crores. This represented a decrease of 8.8% from the previous quarter’s revenue of 49.18 Crores and a 6.8% decline compared to the 48.15 Crores reported in the corresponding quarter of 2024. The company faced significant bottom-line pressure, reporting a net loss of 7.42 Crores for the quarter, compared to a profit of 71.88 Crores in the preceding quarter and 1.82 Crores in the same period last year. Regarding its shareholding, the promoter group held approximately 41.58% as of early 2026, with significant individual stakeholders including Pranav Niranjan Pandya and Jaimin Jagdishbhai Shah. Institutional interest remains modest, with Foreign Institutional Investors (FII) holding approximately 0.33% of the company’s equity.