Archive · 15 Dec 2025
Newgen Software Secures $56 Crore Contracts
Newgen Software, a company that helps businesses manage their processes, has signed two big deals worth about $56 crore.
One deal is with a bank in Saudi Arabia to create a system for giving out loans.
The other deal is with an Indian bank to provide a digital platform for lending money.
Both deals are confidential, so we don't know which banks they are.
The company's stock price went up a little bit after this news.
The Saudi deal will take two years to complete, and the Indian deal will take five years.
Neither deal involves the company's promoters or their group.
Newgen Software's subsidiary in Saudi Arabia signed a ₹38.64 crore contract with a public sector bank for a loan origination system.
The company also secured a ₹16.53 crore contract with a leading Indian bank for a digital lending platform.
Both contracts are confidential, with the customer names not disclosed.
The Saudi contract involves a perpetual license, implementation, and one year of support, with a two-year execution period.
The Indian contract spans five years, covering supply, installation, customization, and maintenance of the digital lending platform.
- Who
- Newgen Software Technologies Ltd and its subsidiary in Saudi Arabia
- What
- Signed contracts worth $56 crore with a public sector bank in Saudi Arabia and a leading Indian bank
- When
- December 15, 2023
- Where
- India and Saudi Arabia
- Why
- To design, develop, and maintain digital lending platforms
- Company
- Newgen Software Technologies Ltd
- Contract Value
- $56 crore (₹55.17 crore)
- Saudi Arabia Contract
- SAR 15,982,125 (₹38.64 crore)
- India Contract
- ₹16.53 crore
- Saudi Arabia Contract Duration
- 2 years
- India Contract Duration
- 5 years
- Stock Price
- ₹862.55 (up ₹5.45 or 0.64%)