Dev Information Technology Limited (DEVIT) has received a work order from Gujarat State Petroleum Corporation Limited (GSPC). The intimation, dated May 8, 2026, was filed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR). The project involves a critical technical migration focused on Identity Management and Active Directory (AD) environments.

The specific scope of the project entails the end-to-end migration of GSPC’s existing Identity Management AD environment to a new domain that aligns with the merged entity’s structure. This initiative is designed to establish a secure, unified, and scalable identity management framework, which will support future IT integrations and governance for the merged entity. The total value for this domestic, fixed-cost project is approximately ₹53.99 lakhs. It is expected to be executed within a timeframe of approximately 16 weeks.

Dev Information Technology Limited is a global provider of end-to-end IT services, specializing in cloud computing, digital transformation, and enterprise applications. Founded in 1997 and based in Ahmedabad, the company serves both public and private sectors. Throughout 2025, the company secured several notable contracts, including a ₹44 million IT deal with Alivus Lifesciences in July and two cybersecurity contracts from a USA enterprise in February. Additionally, in September 2025, the company’s unit, Dev Accelerator, filed its final red herring prospectus for an Indian IPO.

In the quarterly financial results for the period ended March 2025, the company reported revenue of ₹150.63 Crores, a slight decrease compared to ₹157.28 Crores in the corresponding quarter of 2024. However, net income for the March 2025 quarter rose to ₹15.42 Crores from ₹8.77 Crores in March 2024, reflecting an increase in net profit margin to 10.23%. Famous or significant institutional investors in the company include XDuce Technologies Private Limited, which held a 23.95% stake as of early 2026.

Title: Dev Information Technology Wins Lok Sabha Secretariat Web Development Order

Dev Information Technology Limited has announced a prestigious work order from National Informatics Centre Services Incorporated (NICSI). This order is awarded on behalf of the Lok Sabha Secretariat, New Delhi. The company disclosed this development to the stock exchanges on May 8, 2026, highlighting its technical capabilities in delivering large-scale digital solutions for the public sector.

The engagement focuses on the design, development, implementation, and maintenance of application software and websites. This domestic project is valued at approximately ₹79.63 Lakhs and is structured as a fixed-cost contract. The execution period for this prestigious government project is estimated to be approximately six months. The company maintains that this order reinforces its position as a trusted partner for secure digital infrastructure.

The company’s business model revolves around providing robust digital solutions through its various service lines, including Managed IT Services, Mobile Applications, and Business Applications. Recent operational updates from 2025 include the securing of a ₹12.9 million order from NICSI in July 2025 and an August 2025 work order worth approximately ₹10.6 million. The company also underwent a stock split in August 2025, changing the face value of its shares from ₹5 to ₹2.

Financial performance for the fiscal year ending March 2025 showed a consolidated revenue of ₹150.63 Crores. The company demonstrated significant growth in its 3-year Profit After Tax (PAT) CAGR of 495% as of December 2025. Notable shareholders and investors reported in 2025 and 2026 include XDuce Technologies Private Limited and Pranav Niranjan Pandya HUF, who hold 23.95% and 7.45% respectively. The promoter holding in the company remains stable at approximately 66.63%.