Newgen Software Technologies Limited has announced two significant contract wins — one in Europe and another in India — that further strengthen its global presence and domestic footprint in digital transformation solutions.
€4.22 Million Master Service Agreement in Europe
Through its wholly owned UK subsidiary, Newgen signed a five-year Master Service Agreement with Tata Consultancy Services N.V., Belgium, valued at €4,222,683 (approximately ₹38 crore).
The engagement involves providing cloud hosting, software licensing, and implementation services for a modernised, cloud-based enterprise records management platform. The solution aims to help the end customer achieve greater efficiency and scalability in operations, marking a step forward in Newgen’s international growth strategy.
₹21.24 Crore Order from Kshema General Insurance
Domestically, Newgen has bagged a contract from Kshema General Insurance Limited worth ₹21.24 crore (including taxes). The order, also spread over five years, covers the deployment of Newgen’s Policy Administration System, which integrates software licensing, implementation, and annual support services.
This deal underscores Newgen’s growing role in India’s insurance technology space, where its solutions are increasingly being used to streamline processes and improve customer engagement.
Strategic Outlook
The twin wins — one global and one domestic — reflect Newgen’s ability to balance international expansion with strong growth in its home market. With rising demand for cloud-based enterprise solutions and digital insurance platforms, the company is strategically positioned to capture opportunities across geographies.
Summary
- International Deal: €4.22 million (₹38 crore) five-year contract with TCS N.V., Belgium, for cloud-hosted records management platform.
- Domestic Deal: ₹21.24 crore five-year contract from Kshema General Insurance for Policy Administration System.
- Significance: Strengthens Newgen’s global presence while reinforcing leadership in India’s insurance technology market.
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