Dev Information Technology (DEVIT) has secured a significant enterprise technology contract from the Settlement Commissioner and Director of Land Records, an undertaking of the Revenue Department, Government of Gujarat. According to reports from Business Standard, the contract is valued at approximately ₹5.33 crore. The order represents a substantial win for the technology services provider in the government sector, with the company receiving a formal work order on August 11, 2026. This represents a Type A confirmed order, meaning the value is firm and executable immediately upon mobilization, with an execution period of one month.
The contract encompasses software enablement and infrastructure modernization services centered on Microsoft SQL Server 2025 Enterprise architectures. As reported by Business Standard, DEVIT will oversee the alignment of these core capabilities to support the department's primary public-facing applications. The modernization initiative aims to enhance the department's digital infrastructure capabilities and modernize legacy land record systems for the Gujarat government, leveraging enterprise-grade database architecture to enhance data integrity and accessibility.
According to Business Standard, DEVIT will focus on aligning core capabilities to support the department's primary public-facing applications: iORA (Integrated Revenue and Office Record Application), e-Milkat, and Any RoR. The implementation will be executed at the Gujarat State Data Center (GSDC). This integration will modernize the department's digital infrastructure and improve service delivery capabilities, with the current order value of ₹5.33 crore representing approximately 7.4% of the company's average quarterly revenue of ₹71.78 crore.
When added to existing wins, the total disclosed order book stands at ₹285.20 crore, providing coverage of 3.97 quarters of average quarterly revenue. The company has demonstrated consistent order inflows, with order inflow exceeding ₹139 crore in each of the last two quarters. DEVIT's annual revenue has grown from ₹183.90 crore in FY25 to ₹189.50 crore in FY26, representing a YoY growth of +3.0%. While top-line growth moderated, net profit surged by +530.8% to ₹93.36 crore in FY26, driven by improved margin quality and other income contributions.
Despite profitability on an accrual basis, the company faces working capital challenges with operating cashflow negative at -₹8.90 crore in FY25 and free cashflow at -₹13.50 crore. The balance sheet shows a current ratio of 1.79x and total liabilities to equity of 0.73x as of FY26, indicating sufficient short-term liquidity. However, these working capital headwinds may constrain the company's ability to self-fund rapid expansion without external capital or improved receivables collection.
