Shares of Can Fin Properties Ltd fell 1.5% after touching the day’s excessive of Rs 621.25 on twenty first February, regardless of the agency saying that it has chosen IBM India Non-public Ltd to provide and keep its core enterprise answer for about Rs 297 crore.
The agency’s board authorized IBM India because the system integrator for its core enterprise answer, infrastructure, and safety upgrades.
IBM will handle Lending Options, together with the Mortgage Origination System (LOS), Mortgage Administration System (LMS) with Collections, Doc Administration System (DMS), and Borrowing & Funding.
The corporate awarded IBM a seven-year contract, divided into 12 months of implementation, three months of guarantee, and 5 years and 9 months of assist and upkeep.
The contract consists of an elective two-year extension if mutually agreed upon, as per Can Fin Properties’ submitting on twenty first February.
The entire contract worth is Rs 296.95 crore for the seven years.
For Q3 FY25, Can Fin Properties’ internet revenue rose 6% YoY to Rs 212 crore, whereas Web Curiosity Revenue (NII) grew 4.3% YoY to Rs 350.4 crore.
At 1:54 PM, the shares of Can Fin Properties had been buying and selling 1.34% decrease at Rs 596.95 on NSE.
Can Fin Properties Insights? Let the Analyst Information You.
Prepared to speculate like a professional? Unicorn Indicators app equips you with 100+ Free instruments and data it’s essential succeed. Obtain the Unicorn Indicators app and achieve entry to day by day inventory lists and insightful market evaluation and far more!
