Newgen Software arm wins $2.22 million deal from Kuwait-Based Bank

Newgen Software Technologies announced that its Dubai-based subsidiary, Newgen Software Technologies L.L.C, has secured a contract worth $2.22 million (approximately Rs 20.54 crore) from a leading bank in Kuwait.

The agreement covers the implementation and licensing of software solutions, including Corporate Finance Origination Solution (Islamic), Retail Finance Origination Solution (Islamic), and a Customer Communication Management System. The identity of the bank has not been disclosed due to confidentiality obligations.

The contract is expected to be executed within a period of two years.

The company clarified that its promoters and promoter group entities have no interest in the awarding authority, and the deal does not qualify as a related-party transaction under applicable regulatory norms.

Newgen Software Technologies is a global software company and is engaged in the business of software product development, including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to document management to imaging.

The company?s consolidated net profit declined 23.16% to Rs 62.81 crore on a 0.13% fall in revenue from operations to Rs 400.27 crore in Q3 FY26 over Q2 FY26. On a year-on-year (YoY) basis, the company?s consolidated net profit declined 29.43% while revenue from operations jumped 5.03% in Q3 FY26.

The counter rose 0.35% to Rs 443.50 on the BSE.

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