Newgen Software Technologies Limited has received and accepted a purchase order for its Policy Administration System, valued at ₹21.24 Cr (Rupees Twenty One Crore and Twenty Four Lakh including taxes) from Kshema General Insurance Limited. The project involves software licensing, implementation, and annual support services for a duration of 5 years, signifying a substantial revenue stream and a strengthening of Newgen’s position in the insurance sector.
New Policy Administration System Order
Newgen Software Technologies Limited has been awarded a significant order from Kshema General Insurance Limited for its Policy Administration System. The company confirmed the acceptance of the purchase order in an announcement dated September 24, 2025.
Order Details
The aggregate commercial value of this order is ₹21.24 Cr (Rupees Twenty One Crore and Twenty Four Lakh) including taxes. The scope of the order encompasses software license, implementation, and annual support services.
Counterparty Information
The order was awarded by Kshema General Insurance Limited, a domestic entity operating within India.
Project Timeline
The project duration is set for 5 years, indicating a long-term partnership and revenue visibility for Newgen.
Related Party Transaction
The company has confirmed that this transaction does not fall within the definition of a related party transaction as specified under the provisions of the Companies Act, 2013.
Source: BSE
