Newgen Subsidiary Secures KWD 875,000 (₹26.7 Crore) Core Insurance System Order in Kuwait
Newgen Software Technologies LLC secured a KWD 875,000 (₹26.7 Crore) contract in Kuwait for core insurance system replacement. The order includes licenses, implementation, and five years of support, with execution over five years. This international deal was awarded by a confidential overseas entity.
The order value is significant for the company and indicates international business expansion, but it represents a portion of the overall business.
The company has secured a new order which is positive for its business growth.
Newgen Software Technologies LLC, a wholly owned subsidiary of Newgen Software Technologies Limited based in the UAE, has received a Letter of Award from an overseas entity in Kuwait. The order is for the replacement of a core insurance system (PAS replacement) and includes licenses, implementation services, and five years of support.
The aggregate value of this international contract is KWD 875,000 (Eight hundred seventy-five thousand Kuwaiti Dinars), which translates to approximately ₹26,70,41,250 (Rupees Twenty-Six Crore Seventy Lakh Forty-One Thousand Two Hundred and Fifty) based on a conversion rate of 1 KWD to INR 305.19.
The execution period for this order is five years. The promoters of Newgen Software Technologies Limited have no interest in the entity that awarded this contract. The company confirms that this transaction does not fall under the definition of a related party transaction. The event occurred on June 30, 2026, at 08:20 PM IST.
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Newgen Software Technologies Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Newgen Software Technologies Limited. Read the original for the full detail.