22-07-2025
Dev IT secures Rs 1.29 crore NICSI order to build state financial management system
By Aditya Bhagchandani Published on July 22, 2025, 11:18 IST
Dev Information Technology Ltd (DEVIT) has announced that it has secured a significant order from the National Informatics Centre Services Incorporated (NICSI) for the development of an Integrated Financial Management System (IFMS) for a state government.
The order, valued at approximately ₹1.29 crore, is a fixed-cost, domestic contract and is expected to be executed within 2–3 months, the company stated in its regulatory filing to NSE and BSE on Tuesday.
The IFMS project aims to streamline and enhance key financial processes of the state, including: Pension and Employee Management
Works Accounts Management
Bank Disbursement Engine
Core Treasury Operations
Online Bill Payments
Budget Volume and Expenditure Management
Mobile Application Development
Other critical areas of financial administration
The company highlighted that its experience in delivering large-scale, customized government technology solutions was instrumental in securing the order. This project does not involve any related-party transactions, and none of the promoters or group companies have any interest in the awarding entity.
According to DEVIT, the project reflects its ongoing commitment to supporting government clients with robust, innovative, and collaborative digital solutions tailored to operational needs.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
