Dev Information Technology Ltd(DEVIT)

NSE: DEVITBSE: 543462

₹ 18-5.36%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 103 crWebsite: www.devitpl.comUpdated: 24 Oct 2026

About

Dev Information Technology is an Indian IT and IT-enabled services company offering digital transformation, blockchain, cybersecurity and business intelligence services, with a public-sector track record of more than 27 years. It reported FY26 revenue of 189.5 (Rs crore) and FY26 consolidated total income of around INR193.50 crores. India contributed 67% of FY26 revenue, with exports at INR45 crore.^[1][2][3]

Revenue mix

India contributed 67% of FY26 revenue (about INR110 crore); export revenue was INR45 crore in FY26, up from INR35 crore.^[3]
International revenue was 29.35% of total in FY25 vs 24% in FY24; 90-93% of overseas revenue came from North America.^[4]
Government revenue was 40.31% of total in FY25 vs 50.62% in FY24; corporate was 59.69% vs 49.38%.^[5]
Managed IT made up 27% of revenue in FY26; cloud revenue was INR25 crore and cybersecurity revenue INR5-8 crore in FY26.^[3]
Recurring revenue was about 60% of the mix in Q2 FY26.^[6]

Services and subsidiaries

Services fall into four categories: Digital Transformation, Blockchain Solutions, Cybersecurity Services, and Business Intelligence and Analytics (FY25 annual report).^[1]
In Q2 FY26, Data Centre Infrastructure was added to the AI/BI, Blockchain and Cybersecurity focus areas, forming the 'ABCD' framework.^[6]
Wholly owned Minddeft Technologies delivers blockchain work such as wallet tokenisation and smart contract auditing.^[1]
Wholly owned Dhyey Consulting provides Microsoft enterprise solutions. In Q1 FY26 Microsoft named it among its Top 5 SMB Partners in India.^[1][5]
DEV IT holds all six Microsoft Solution Partner Designations and CMMI Level 5, as of Q4 FY26.^[3]
The cybersecurity workforce holds ISO 27001, SOC 2 and NIST certifications and offers 24x7 managed cybersecurity.^[1]

Key operating numbers

Order book was INR50-60 crore in Q4 FY26.^[3]
Headcount was 1,000-1,100 in Q4 FY26, compared with 1,031 in FY25.^[3][4]
There were 924 permanent employees as of March 2025, down from 971 in FY24.^[1][7]
Attrition was about 6% and client retention 90% in FY25.^[4]
Average managed IT deal size was $80,000-$100,000 on contracts of at least 2 years in FY26.^[3]

Customers and reach

Active customers numbered 600-700 in Q4 FY26.^[3]
The company is empanelled with NICSI, iNDEXTb, Gujarat Informatics Limited, Hartron and RISL.^[1]
In FY25 it won contracts with the Lok Sabha, the Rajya Sabha, the Gujarat and Rajasthan governments and key PSUs.^[4]
In Q2 FY26 it won new orders from RajCOMP, Gujarat Informatics Limited, Gujarat Info Petro and NICSI.^[6]
It is present in Canada through Dev Info-Tech North America Limited. In Q4 FY26 it won a Texas sugar-processing customer.^[1][3]

Expansion plans

The company plans to invest Rs. 7-12 crore in AI and blockchain R&D/CoE and Rs. 3-5 crore in a cybersecurity CoE over 12-24 months (stated Q2 FY26).^[6]
Management targets about INR200 crore of revenue in FY27, and plans a direct presence in Australia in FY27.^[3]
Through the XDuce alliance, management expects $1-2M of revenue in FY27 and $3-5M in FY28.^[3]

Recent developments

Q4 FY26: XDuce Infotech (US/UK) bought a 25% stake from promoters, and DEV IT became XDuce's offshore delivery centre.^[3]
Q4 FY26: the board approved transferring Talligence and ByteSIGNER to Technosys Pvt Ltd for about INR11.90 crore in cash.^[3]
After FY26, a shareholding agreement was signed under which UCI New York will acquire 25% of UCI, bringing a Microsoft Dynamics opportunity of more than $3M.^[3]
Q2 FY26: associate DevX completed a Rs. 143.35 crore IPO, and DEV IT's stake fell from 23% to 17%.^[6]
The company launched an ESOP programme in Q2 FY26.^[6]

Market Cap

₹103 Cr

High / Low

₹48 / 17

Stock P/E

1.3

Price / Book

0.9

Book Value

₹19

EPS

₹13.4

No. of Shares

5.63 Cr

ROCE

3.5%

ROE

85.2%

OPM

2.1%

Debt / Equity

0.27

Sales

₹190 Cr

Net Profit

₹76 Cr

Promoter holding

41.1%

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