Newgen Software Technologies share price jumps 3% as arm secures contract from leading Bank in Kuwait

Shares of smallcap IT company, Newgen Software Technologies jumped nearly 3% after the company’s subsidiary secured a contract from a leading bank in Kuwait. The shares made a high of ₹467 apiece on the NSE.

Newgen Software Technologies’ wholly owned subsidiary ,Newgen Software Technologies L.L.C, incorporated in Dubai, has executed an agreement with a leading bank in Kuwait for software license, implementation and product software support. The aggregate value of the aforesaid agreement is $2.22 million (around ₹20.54 crore). The agreement is for a period of 2 years.

Earlier this month, Newgen Software Inc., incorporated in the USA, has entered into a master service agreement with an insurance company situated in the Caribbean for the supply, installation & implementation of the NewgenONE Digital Transformation Platform. The aggregate value of the contract is $1.4 million and it is valid for the period of 3 years.

Newgen Software shares have eroded investors' wealth by 75% since January 2025 record high levels. The shares have hit record high levels of ₹1,790 apiece on 16 January 2025 and since then have seen a downward journey to hit levels last seen in 2023.

During the Q3FY26 results, the revenue jumped 5% YoY to ₹400 crore and the net profit remained muted at ₹63 crore as compared to ₹89 crore in the same period last year. The company's 71% revenue comes from the banking sector vertical, followed by Insurance & Healthcare at 13%, government at 10% remaining 6% from other sectors.

Geographically, the revenue stream remains well diversified with 31% coming from EMEA, 29% from India, 24% from the USA and 16% from the APAC.

Newgen Software Technologies is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.