DEV INFORMATION TECHNOLOGY LIMITED — Investor Presentation 2024

Dec 28, 2024

Dev Information Technology Limited

Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53

www.devitpl.com | info@devitpl.com

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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479

Date: 28[th] December, 2024

	To, The Manager-Listing Department, The National Stock Exchange of India Limited, Exchange Plaza, Plot No. C/1, G-Block, Bandra Kurla complex, Bandra East, Mumbai-400 051 Trading Symbol: DEVIT	To, The Secretary, BSE Limited Phiroze Jejeebhoy Towers, Dalal Street Mumbai -400001 Trading Symbol: 543462

Subject: Corrigendum to Earnings Presentation Q2FY25 dated 13[th] November 2024

Ref.: Regulation 30 (Disclosure of event or information) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir/Madam,

We are submitting herewith the Revised Earnings Presentation for the 2nd quarter ended September 30, 2024, presented on Wednesday, November 13, 2024. The earlier Presentation had inadvertently contained erroneous image of India, which now stands to be rectified. The above information is available on the website of company at

Kindly take the above information on your records.

Thanking you,

On behalf of Board of Directors DEV INFORMATION TECHNOLOGY LIMITED

KRISA KAIRAV SHAH

Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, pseudonym=CDCD7FC7D81194322A5D754479A99121, 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d8440cb27e 3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A46A0 172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2024.12.28 17:52:10 +05'30'

Krisa Shah (Company Secretary and Compliance Officer) Place: Ahmedabad

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Digital Transformation |

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Business Applications |

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Cloud Services

Managed IT Services

Mobile Applications

Enterprise Applications

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DEV Information Technology Limited Q2 & H1 FY25 Investor Presentation

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Disclaimer

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This presentation and the accompanying slides (the Presentation), which have been prepared by DEV Information Technology Limited (DEV IT, The Company) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantee of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict.

These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks.

The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

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DEV Information Technology Limited

Q2 & H1 FY25 Operation & Financial Highlights

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Order Wins: Building Unstoppable Momentum in the Business

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Order Details Order from CMO Office Gujarat Government Order from RajCOMP Info Services Ltd. Order from RajCOMP Info Services Ltd. Order from Gujarat State Fertilizers & Chemicals Limited. Order from RajCOMP Info Services Ltd. Order Size Timeline Implementation of SQL Server Enterprise & Windows Server Study, Design, Development, and Implementation of Kaushal Darpan Portal & Application Operation, Maintenance and Enhancement of RAJKISAN SATHI Portal Managed IT Services for the Network Operating Centre (NOC) of GSFC. Study, Design, Development, and Implementation of Online Portal for RERA 2.0 ₹8 Cr(Approx.) ₹2 Cr(Approx.) ₹5 Cr(Approx.) ₹97Lakhs(Approx.) ₹1 Cr(Approx.) 6months -2years 2 - 3years (Approx.) 1 - 2years (Approx.) 5years (Approx.) 2years (Approx.)	Order from RajCOMP Info Services Ltd.	Order from RajCOMP Info Services Ltd.	Order from Gujarat State Fertilizers & Chemicals Limited.	Order from RajCOMP Info Services Ltd.

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DEV Information Technology Limited

Strategic Acquisition : Acquires 100% Ownership in Dhyey Consulting Services

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DCS specializes in Microsoft Dynamics 365 & Power Platform solutions

Dhyey’s Expertise 300+ successful global Microsoft Dynamics 365 & implementations Power Platform solutions Prominent Clients Gujarat Urja Vikas Nigam Ltd (PSU) India Prince Pipes and Fittings Ltd (Enterprise) Astute Healthcare Pvt Ltd (Enterprise) Sognos Solutions PTY LTD (Australia) Global Enovasions PTE LTD (Singapore) Acquisition Benefits

Elevated ERP Expanded Leadership in and CRM Global Reach: Digital Capabilities : Enhances its Transformation: Empowers DEV IT international This strategic to deliver footprint, move advanced offering services strengthens DEV solutions that to a wider IT's position in meet client audience. the evolving IT needs. solutions landscape

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DEV Information Technology Limited

Q2 FY25 Key Financials Highlights

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Total Income EBITDA PAT EBITDA % PAT Margin
11.23
48.24
23.28
8.11
16.81
28.50
9.17
2.61 5.80
1.65
Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24
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All Amount In ₹ Crores & Margins In %

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DEV Information Technology Limited

H1 FY25 Key Financials Highlights

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Total Income EBITDA PAT EBITDA % PAT Margin
17.29
89.18
83.97
20.59
11.83
14.09
5.90
6.62
3.48
3.91
H1 FY25 H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY24
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All Amount In ₹ Crores & Margins In %

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DEV Information Technology Limited

Q2 &H1 FY25 Profit & Loss Statement

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						In₹Cr
Particulars	Q2 FY25	Q1 FY24	YoY	H1 FY25	H1 FY24	YoY
Net Sales	35.94	27.95		71.40	88.40
Other Income	12.31	0.56		12.58	0.77
Total Income	48.24	28.50	69.26%	83.97	89.18	-0.06%
Raw Material Expenses	12.95	5.93		19.71	44.80
Employee Benefit Expenses	22.07	18.42		43.27	35.30
Other expenses	2.00	1.54		3.70	3.18
Total Expenditure	37.01	25.89		66.69	83.28
EBITDA	11.23	2.61	329.64%	17.29	5.90	1.93%
EBITDA (%)	23.28	9.17		20.59	6.62
Interest	0.99	0.35		1.51	0.69
Depreciation	0.79	0.30		1.55	0.57
PBT	9.45	1.96		14.24	4.64	2.07%
Tax	1.34	0.31		2.41	1.16
PAT	8.11	1.65	389.27%	11.83	3.48	2.40%
PAT Margin (%)	16.81	5.80		14.09	3.91

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DEV Information Technology Limited

Company Overview

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DEV Information Technology Limited (DEV IT, The Company) is one of the leading providers of integrated IT services and solutions. The Company specializes in Cloud Services, Digital Transformation, Enterprise Applications, Managed IT Services, and Bespoke Software Development. The company has also invested in developing innovative products such as Talligence, a business intelligence and analytics solution for Tally data, and ByteSIGNER, an automated document signing solution.

Operating strategically across the globe with headquarters in India and a branch office in Canada, The Company is dedicated to collaborating with clients to drive their digital transformation initiatives. The Company has recently enhanced its capabilities through the strategic acquisitions of Dhey Consulting and Minddeft, significantly expanding its expertise and service offerings in Enterprise Applications and Blockchain Solutions.

As part of its diversified portfolio, DevX, a subsidiary of the Company, is a prominent provider of managed office spaces. DevX plays a pivotal role in India’s startup ecosystem by delivering tailored office solutions. Furthermore, DevLabs, the Company’s R&D arm, serves as the cornerstone of its innovation strategy, fostering the creation of cutting-edge technologies that keep the Company at the forefront of industry advancements.

The Company was listed on NSE Emerge in April 2017 and subsequently migrated to the Mainboards of NSE and BSE in February 2022.

Quantifying Success: Key Stats

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25+ 1,800+ 20+ 7.2 lakh Cities Featuring Years of Experience Completed Projects Industries Served Office Space Under Co-Working Spaces Management for Co-Working Space 600+ 1,000+ 90% 11,000 22 Clients Served Passionate Workforce Client Retention Rate Seats Centres

FY24 Consolidated Financial Highlights

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₹ 165.12 Cr ₹ 15.31 Cr ₹ 9.34 Cr Total Income EBITDA Net Comprehensive Income

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DEV Information Technology Limited

Strength In Strategy: Vision, Mission & Core Values

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Core Values
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Vision Mission Core Values Be a trusted, technology Listen to customer, At the heart of our neutral and value-based explore technological culture lie our core end-to-end IT partner for alternatives, deliver values, guiding our organizations across befitting solution and actions and forging the the globe ensure synergetic path to excellence engagement with unwavering support

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Philosophy
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People First, Business Always

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DEV Information Technology Limited

From Vision To Reality: Key Chapters Of Growth

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1997 2000 2010 2012
Foundation and Vision Government Accreditation Strategic Expansion International Expansion
Founded as a Microsoft Accredited as a Total Expanded into Managed IT Services Established a subsidiary, DEV
ISV partner in Gujarat Solution Provider by the and Custom Software Development Info-tech NA Ltd , in Canada.
Government of Gujarat. through an acquisition.
2020 2018 2017 2016
NSE Listing
Adapting to the New Normal Incubating Innovation Strengthening Software Solutions
Got Listed on NSE
Established a Cloud Centre of Launched DEVX , a co- Acquired a software development
EMERGE , connecting with
Excellence during the working and start-up business unit, enhancing bespoke
investors.
pandemic. accelerator. solutions.
2023 2024
2021 2022
Product Launch Scaling New Heights Acquisition and Growth and Growth Awarded Significant Contract
Introduced flagship Migrated to main board of NSE & BSE. Acquired Dhey Consulting – a company Secured key contracts including ₹
products Talligence and Acquired Minddeft , expanding with expertise in Microsoft Dynamics GSFC, ₹ 5 Cr with RajiCOMP
365, Business Central, CRM & Power
Bytesigner . blockchain expertise. for the Kaushal Darpan Portal .
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Acquisition and Growth and Growth Acquired Dhey Consulting – a company with expertise in Microsoft Dynamics 365, Business Central, CRM & Power Platform

Secured key contracts including ₹ 97 lakhs with GSFC, ₹ 5 Cr with RajiCOMP , and a major project for the Kaushal Darpan Portal .

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DEV Information Technology Limited

Awards & Accolades: The Hallmarks Of Excellence

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2024 Gavriella Schuster IAMCP D&I Partner of the Year | Rising Star (Enterprise)

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2023
MICROSOFT | Best Emerging SI Partner CRN | Blockchain IP Creation
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2022 Channels Award | The Futuristic 100 VAR INDIA | Best Digital Channel World India Premier 100 IAMCPorg P2P Award for the APAC Transformation Partner Awards region

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DEV Information Technology Limited

Awards & Accolades: The Hallmarks Of Excellence

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2021
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HR Excellence Awards Best Solution Partner for best organizational practices at the 20th Star Night Awards in Employee Relations & Pandemic Responses

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ISV SME Channels Super
Hero Award
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SME CHANNELS | ISV of India
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Channel World Premier 100
Award, Resilient 100
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2020
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CRN Excellence Award Virtual 11th Partner Leadership 5th ISV Virtual Summit & Awards at the Channel Leadership Summit Summit & Awards

ISODA | Best Partner of Business Excellence Award

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DEV Information Technology Limited

Awards & Accolades: The Hallmarks Of Excellence

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2019
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Best SI Managed Services Provider Award by GESIA IT

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SKOCH Achiever Order-of-Merit Award for being Top 100

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One of the Torch Bearers of Gujarat IT Industry by GESIA IT Association

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ISODA Award for Business Excellence

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IDG Channel World Premier 100 Awards

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TECHPLUS MEDIA – Most Impactful Regional Leader Award

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DEV Information Technology Limited

DEV IT’s Presence

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United States United Kingdom
United States
France
Jaipur, Rajasthan
United States Ahmedabad, Gujarat
Pune, Maharashtra
Kochi, Kerla
Saudi Arabia
Head Office India
Branch Offices
Subsidiary
Partners Australia
Clients
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DEV Information Technology Limited

Trusted Partnerships & Proven Excellence

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Key Partners

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Certifications

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DEV Information Technology Limited

Marquee Clients In Private Sector

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The Company Has An Extensive Portfolio Of Over 250 Clients In The Private Sector, Contributing To 30-35% To The Total Revenue

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DEV Information Technology Limited

Marquee Clients In Government Sector

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The Company Has An Extensive Portfolio Of Over 100 Clients In The Government Sector, Contributing To 40-50% To Total Revenue

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DEV Information Technology Limited

DEV Labs: Leading The Way In Innovation Through Creative Thinking

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DEV Labs The R&D lab is recognized as the cornerstone of the company, driving the development of cutting-edge solutions that ensure the company remains at the forefront of technological advancements.

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Major Focus

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Artificial Intelligence (AI)

Natural Language Processing (NLP)

Internet of Things (IoT)

Blockchain

Mixed Reality (MR)

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DEV Information Technology Limited

Management Overview

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Steering Success: The Visionaries Of The Board

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Pranav Pandya Jaimin Shah Vishal Vasu
Founder & Chairman MD & CEO Director & CTO
30+ Years of Experience 28+ Years of Experience 30+ Years of Experience
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Prerak Shah Ext. Director & JT. CEO 28+ Years of Experience

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DEV Information Technology Limited

Independent Leadership: Driving Governance

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Dr. V V Rama Subba Rao
Independent Director
36+ Years of Experience
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Mr. Umesh Rateja
Independent Director
28+ Years of Experience
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Dr. Rama Moondra
Independent Director
35+ Years of Experience
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Mr. Jatin Y. Trivedi
Independent Director
28+ Years of Experience
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DEV Information Technology Limited

Business Overview

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DEV IT’s Comprehensive Solutions

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IT Services IT Products
•
Cloud Services
•
Digital Transformation
•
Enterprise Application
•
Managed IT Services
•
Application Development
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Co Working Space
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DEV Information Technology Limited

Empowering Businesses with Comprehensive Digital Solutions

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Cloud Services

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Optimized cloud solutions for the modern enterprise can boost business efficiency and scalability. A cloud solution provider tailors services to meet the ever-evolving needs of today’s enterprises.

• Cloud Advisory

• o Application Modernization o Managed Cloud Services o Enterprise DevOps o Backup & Disaster Recovery

Digital Transformation

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To stay ahead in a rapidly advancing technological world, businesses can rely on tailored digital transformation services. This suite of services ensures that enterprises remain at the forefront, delivering the competitive edge necessary for success.

• Modern Workplace solutions

• o M365 Migration Services

• Hybrid & Remote Work

• o Cyber Security Services o Data & Analytics o Blockchain Solutions

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DEV Information Technology Limited

Empowering Businesses with Comprehensive Digital Solutions

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Enterprise Applications

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Businesses can empower themselves with agile enterprise business applications. By utilizing ERP and CRM solutions, they can navigate the modern business landscape with greater agility, enhancing processes and strengthening customer relations.

• Microsoft D365 F&O

• o Microsoft D365 CRM o D365 Business Central o Microsoft Power Platform

Managed IT Services

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Businesses can rely on IT infrastructure management to thrive in the modern digital age. Managed IT services offer unparalleled support, ensuring seamless operations and maximizing productivity in the era of digital transformation.

• Data Center Support

• o Managed Digital Workplace

Application Development

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Businesses can craft digital masterpieces with expert application development services. These services excel in the o Bespoke Software digital-physical hybrid world, transforming o E-Gov Platforms innovative visions into functional and o Mobile App Development impactful digital solutions.

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DEV Information Technology Limited

ByteSIGNER: Streamlining Digital Signing For Businesses

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ByteSIGNER is a desktop application that streamlines digital signing and
supports bulk signing of PDFs, promoting efficiency and a paperless office
for enterprises of all sizes.
Key Features
Bulk PDF Signing Manual and Automated Options Customizable Signature Placement Versatile Signing Methods
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ByteSIGNER reduces operational costs, speeds up the document signing process, and enhances organizational efficiency through secure, compliant digital signing.

Website Link: https://www.bytesigner.in/

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DEV Information Technology Limited

Talligence: Transforming Tally Data Into Strategic Insights

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Talligence is an AI/ML business intelligence tool that converts Tally® accounting data into actionable insights for smarter, data-driven decisions without needing specialized skills.

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Secure, Encrypted Data Transfer

Key Features Insightful Dashboards NLP Chatbot Pre-Defined KPIs Mobile App Management

Talligence simplifies strategic analysis and operational monitoring, empowering businesses to unlock growth and efficiency through intuitive, AI-driven insights.

Website Link: https://www.talligence.in/

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DEV Information Technology Limited

DEVX: Pioneering Managed Office Spaces & Startup Ecosystem

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DEVX, headquartered in Ahmedabad, is one of the leading provider of managed office spaces and a key player in India’s startup accelerator ecosystem. Offering fully customized office solutions, DEVX manages everything from setup to daily operations, including hospitality, housekeeping, and security.

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Pan-India
7.2 Lakhs Sq. Ft.
Presence Across 11 cities of office space under 11,000 ₹ 110 Cr 60+
with 22 centers
management Seats ARR Employees
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Features and Amenities

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247365 Functional Managed Security and Hospitality

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Inhouse Cafeteria Dedicated Reception Area

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Tech-enabled Business Printing Spaces Lounges and photocopy Regular Managed Internet Meeting and Community Events and IT infrastructure Conference rooms

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DEV Information Technology Limited

DEVX: Network Of Co-Working Spaces

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Noida
Jaipur
Udaipur
Ahmedabad
Rajkot Gandhinagar
Vadodara Indore
Mumbai
Pune
Hyderabad
75+ 25 3,200+
Associated Clients Active Centers Coworking Members
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Occupied Seats & Occupancy
10,232.00
78%
53%
46%
4,334.00
1,934.00
FY22 FY23 FY24
Occupied Seats Occupancy
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DEV Information Technology Limited

Revenue Bifurcation by Client Segment

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50.62% 49.38% FY24 In %	49.62% FY23	50.38%	In %		39.49% 60.51% FY22 In %
	Government	Corporate
					In₹Cr
Particulars	FY24		FY23		FY22
Government	79.62		61.45		39.11
Corporate	77.66		60.52		59.92
Total	157.28		121.97		99.03

In FY24, revenue from government sector contributed 51%, while revenue from corporates accounted for the 49%.

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DEV Information Technology Limited

Region Wise Revenue Distribution

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|||||
|---|---|---|---|
|In %|In %|In %|
|FY24|FY23|FY22|
|18.00%|
|24.00%|
|27.00%|
|73.00%|
|76.00%|
|82.00%|
|Domestic|International|
|In|₹|Cr|
|Particulars|FY24|FY23|FY22|
|Domestic|129.49|93.02|71.90|
|International|27.80|28.95|27.13|
|Total|157.28|121.97|99.03|

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In FY24, domestic revenue contributed 82%, while international revenue accounted for the 18%.

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DEV Information Technology Limited

Talent Expansion: Building A Stronger Tomorrow

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Workforce
No. of Employees
1031
947
1,000 181 930
Current Employees Net Addition
In FY24
749
~6.00% 13.01%
DEV IT’s Attrition Industry’s
Rate Attrition Rate
2021 2022 2023 2024
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Source of IT Industry Attrition Rate: www.livemint.com DEV Information Technology Limited

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Industry Overview

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Global Technology Sector Outlook: Challenges & Projected Growth

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The technology sector, after rapid pandemic-driven growth, now faces challenges like high inflation, rising interest rates, and global uncertainties, leading to reduced demand and layoffs. Despite this, modest growth is projected for 2024, with lower recession risks.

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Capitalizing on AI, Cloud, and Cybersecurity

• Enterprise spending on AI, cloud computing, and cybersecurity will be key drivers of growth.

• Generative AI is expected to see broader adoption in late 2024, offering new avenues for efficiency and innovation.

Strengthening Supply Chain Resilience

• Companies are diversifying supply chains and manufacturing locations to mitigate global risks and adapt to evolving trade policies.

Embracing Generative AI

• Investments in generative AI are set to accelerate, with companies exploring its potential to enhance productivity and streamline operations.

• Rapid evolution of legal and regulatory frameworks will require companies to stay ahead of compliance trends.

Navigating Emerging Global Regulations

o New regulations will focus on data protection, ethical AI use, and sustainability goals Proactive compliance and cross-functional collaboration will be crucial for maintaining a competitive advantage.

Source : Deloitte technology-media-and-telecommunications Industryoutlook DEV Information Technology Limited

37

Navigating India’s IT Industry Landscape

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IT & BPM sector contributed 7.5% to India’s GDP in FY22-23, projected to reach 10% by FY24-25.

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Software Product Sector Expansion

Expected to reach USD 100 Bn market by 2025

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AI/Data Annotation Expansion

Expected to reach USD 7 Bn market by 2030 (from USD 250 Mn in FY20)

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In (USD Bn)
Indian IT & Business Spending
138.6
124.7
2023 2024
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In (USD Bn)
Revenue Growth of IT-BPM Sector
53
57
44 46
45
41
193
170
126 136 147 150
FY18 FY19 FY20 FY21 FY22 FY23
EXPORT DOMESTIC
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Key Factors Driving IT Industry Growth

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760 Mn Internet Users

India's massive online user base fuels IT demand and innovation

Government Support

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Programs like Digital India boost sector growth, fostering tech infrastructure.

Digital Adoption

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Businesses and governments adopting IT solutions at scale, enhancing productivity and global competitiveness.

Source: IBEF

38

DEV Information Technology Limited

Driving Digital Transformation: Government’s Strategic Initiatives

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India AI Mission

Affordable Data Costs

In March 2024, the Indian Cabinet approved an impressive ₹ 10,300 Cr for the India AI Mission, marking a significant leap forward for the Nation's Artificial Intelligence Ecosystem.

PLI Scheme 2.0 for IT Hardware

The Cabinet approved the ProductionLinked Incentive Scheme 2.0 for IT hardware, with a financial outlay of ₹ 17,000 Cr , designed to stimulate sector growth.

India maintains its position as a leader in affordable data, with costs remaining at just ₹ 10 per GB, among the lowest in the world.

Cybersecurity Enhancement

In April 2022, the Indian Computer Emergency Response Team issued comprehensive Directions to bolster the nation’s digital security framework.

Source: IBEF DEV Information Technology Limited

39

Co-Working Spaces: Empowering Startups and Growth

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The global Co-working Space Market size was valued nearly USD 9.27 The India co-working office spaces market is valued at USD 1.94 Bn in Bn in 2023 and is expected to grow at a CAGR of 6.80% over 20242024 and is expected to reach USD 2.72 Bn by 2029, growing at a CAGR 2030, to account for USD 14.69 Bn in 2030. of 7.00%.

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In Thousands
No. of Government Recognized startups in India
34.78
26.33
19.8
13.8
10.6
2019 2020 2021 2022 2023
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India Co-working Offices Spaces Market In USD Bn
2.72
1.94
2024 2029
72% cost savings Approximately 6 Mn people are expected to work
from co-working spaces, a 158% increase from 2022
by 2029
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Cities like Bengaluru, Mumbai, and Delhi-NCR have witnessed significant demand for co-working spaces, with Bengaluru leading in leasing activity.

Co-working spaces offer up to 72% cost savings compared to traditional offices, making them highly attractive for startups and SMEs.

Source: mordorintelligence.com DEV Information Technology Limited

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Market Trends in Co-working space

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Changing Employee Needs
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High demand for hybrid and flexible work patterns; employees seek safe, secure workplaces that enhance connectivity.

SME Adoption

Co-working spaces are essential for SMEs due to flexibility, cost benefits, and tech integration.

Shift from Traditional Offices

Widespread acceptance driven by infrastructure and productivity gains.

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Flexible Tariffs
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Customizable service packages to suit business needs.

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Cost Efficiency
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Significant savings over traditional office spaces.

Scalability

Ability to adjust space for growing or shrinking teams.

Source: mordorintelligence.com DEV Information Technology Limited

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Financial Overview

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Consolidated Key Financials Highlights

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Total Income EBITDA Net Comprehensive Income EBITDA % NCI %
165.12
15.31
13.89 10.60
131.12
9.27
100.91
6.88
9.34 5.85
9.02
5.65
5.91
-0.11
-0.11 FY22 FY23 FY24
FY22 FY23 FY24 FY22 FY23 FY24
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All Amount In ₹ Crores & Margins In %

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DEV Information Technology Limited

Consolidated Profit & Loss Statement

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				In₹Cr
Particulars	FY24	FY23	FY22
Net Sales	163.58	124.16	99.82
Other Income	1.54	6.97	1.09
Total Income	165.12	131.12	100.91
Raw Material Expenses	71.01	60.71	44.27
Employee Benefit Expenses	72.25	51.28	44.78
Other expenses	6.55	5.24	5.96
Total Expenditure	149.80	117.23	95.01
EBITDA	15.31	13.89	5.91
EBITDA (%)	9.27	10.60	5.85
Interest	1.42	1.39	0.94
Depreciation	1.40	1.25	1.82
PBT	12.49	11.26	3.15
Tax	3.02	11.26	2.04
PAT	9.48	2.24	-0.07
Net Comprehensive Income	9.34	9.02	-0.11
NCI (%)	5.65	6.88	-0.11
EPS (Diluted)	4.18	4.06	-0.03

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DEV Information Technology Limited

Consolidated Balance Sheet

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Equity & Liabilities FY24 FY23 FY22 Equity 11.24 11.06 11.04 Reserves 44.21 30.49 21.75 Non Controlling Interests 2.83 0.06 -0.01 Net Worth 58.28 41.61 32.78 Non Current Liabilities Long Term Borrowings 4.04 3.65 0.74 Deferred Tax Liability 0.23 0.10 0.41 Long Term Provision 0.41 0.05 0.06 Other Non-Current Borrowing 1.50 0.09 0.05 Total Non Current Liabilities 6.19 3.90 1.26 Current Liabilities Current Borrowings 8.79 3.55 8.79 Other Financial Liability 7.28 3.89 3.84 Trade Payables 10.26 12.35 17.72 Current Tax Liabilities 0.19 0.00 0.00 Short Term Provisions 0.65 0.62 0.56 Other Current Liabilities 3.85 1.84 1.53 Total Current Liabilities 31.01 22.24 32.44 Total Liabilities 95.49 67.74 66.48	In₹Cr
	Assets FY24 FY23 FY22
	Non Current Assets
	Fixed Assets 25.24 15.39 10.73
	Non Current Investments 3.48 3.19 2.98
	Other Non Current Financial Assets 1.28 2.31 2.87
	Deferred Tax Assets (Net) 0.16 0.00 0.00
	Other Non Current Assets 0.28 0.70 0.70
	Total Non Current Assets 30.44 21.59 17.28
	Current Assets
	Inventories 6.34 4.98 4.68
	Trade receivables 51.30 35.00 31.08
	Cash & Bank Balance 6.06 5.16 10.62
	Other Current Financial Assets 0.51 0.00 0.00
	Current Tax Assets (Net) 0.00 0.01 2.19
	Other Current Assets 0.84 0.99 0.64
	Total Current Assets 65.05 46.15 49.21
	Total Assets 95.49 67.74 66.48

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DEV Information Technology Limited

Consolidated Cash Flow Statement

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In ₹ Cr

Particulars	FY24	FY23	FY22
Cashflow from Operations	-0.79	-1.65	5.81
Cashflow from Investments	-2.11	-0.65	-2.13
Cashflow from Financing	3.80	-4.33	-2.68

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DEV Information Technology Limited

Consolidated Key Ratios

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(In %) (In %)
ROE ROCE
21.68
25.85
16.26
19.50
9.57
-0.22
FY22 FY23 FY24
FY22 FY23 FY24
(In Times) (In Times)
Debt To Equity Interest Coverage Ratio
0.29 9.81
9.11
0.22
0.17
4.37
FY22 FY23 FY24 FY22 FY23 FY24
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DEV Information Technology Limited

Consolidated Key Ratios

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(In Times)
Current Ratio
2.08 2.10
1.52
FY22 FY23 FY24
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(In ₹)
Earnings Per Share
4.18
4.06
-0.03
FY22 FY23 FY24
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(In Times)
Fixed Asset Turnover Ratio
9.30
8.10
6.50
FY22 FY23 FY24
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(In ₹)
Book value
29.69
25.92
18.81
FY22 FY23 FY24
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*Note: Stock Split From Rs.10/- to Rs.5/-Record date – 25th November, 2022 DEV Information Technology Limited

48

Stock Data

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As on 12-11-2024

As on 30-09-2024

NSE – DEVIT BSE - 543462

Shareholding Pattern

148.15

Share Price ( ₹ )

Market Capitalization ( ₹ Cr) 333.11

No. of Shares Outstanding 2,24,84,679

Face Value ( ₹ ) 5.00 ₹ 174.75 – 94.00

52 week High-Low ( ₹ )

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31.27
Promoter & Promoter Group
Public
68.73
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Share Performance From 22[nd ] February 2023 Till Date

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300 VOLUME close 35,00,000
250 30,00,000
25,00,000
200
149.59
20,00,000
150
15,00,000
100
10,00,000
50
5,00,000
0 0
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49

DEV Information Technology Limited

Scaling New Heights: 2026 Strategy for Expansion & Innovation

Geographical Technology Profit & Revenue Strategic Expansion Enhancement Target Acquisition

Enhance technology Strengthen North capabilities by adding American presence and IoT and cybersecurity to expand into new the existing portfolio, regions. which includes cloud and blockchain services.

Aim to increase profits and revenue by around Aim to acquire 1.5 times, focusing on complementary operational efficiency, businesses to accelerate innovation, and geographic growth. scalability.

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Export Revenue Target

Target for around 100% increase in export revenue by leveraging global opportunities to increase the company's footprint.

50

DEV Information Technology Limited

Strategic Investment Rationale: Sustained Growth and Stability

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Strong Financial Performance

The company has shown strong financial growth with a 25% CAGR growth in revenue and 32% CAGR growth in PAT from FY22 to FY24, reflecting its robust profitability and financial

Experienced Leadership

The company’s management team has 75+ years of combined experience, while the company itself has 25+ years in the IT industry, driving consistent growth and innovation.

stability.

Diversified Revenue Streams

A diversified business model focused on digital transformation, IT infrastructure , cybersecurity solutions, DEV X coworking spaces, and various IT products ensures stable, recurring revenues across multiple streams.

Expanding Global Presence

Operates across multiple countries, including India, North America, Europe, and the Middle East , leveraging its global presence to mitigate risks and capitalize on emerging market opportunities while expanding its international footprint.

Strategic Acquisition

Recent acquisitions of Dhey & Minddeft have expanded expertise in blockchain and other services, strengthening the company’s market positioning and enhancing its offerings.

Government & Private Sector Clients Base

The company has served 600+ clients across 20+ industries reinforcing its reputation as a reliable and capable provider of IT solutions, which enhances its appeal for future opportunities.

R&D Through DEV Labs

DEV Labs drives innovation in AI, blockchain, and IoT , positioning DEV IT at the cutting edge of technological advancements and product development.

DEVX: A Leader in Co-Working Spaces

DEVX is a key player in the managed office space sector, supporting both startups and established businesses while showcasing the company’s adaptability in the

evolving workspace landscape.

Strong Focus on AI & ML:

The company is actively utilizing AI/ML technologies in its products and services, making it highly relevant in the digital transformation landscape, which is expected to drive future growth.

Competitive Strengths

Strong partnerships with Microsoft, AWS , and other leading tech companies, combined with an agile service delivery model, give DEV IT a significant competitive edge.

DEV Information Technology Limited

51

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DEV Information Technology Limited

14, Aaryans Corporate Park, Thaltej-Shilaj Rd, Thaltej, Ahmedabad - 380059, Gujarat (IN) E-mail: krisa.patel@devitpl.com Phone: +91 94298 99852 | +91 98791 07870 Website: www.devitpl.com

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Thank You
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Kirin Advisors Private Limited

713-B, Lodha Supremus II, Wagle Estate, Thane West – 400 604. E-mail: info@kirinadvisors.com Phone: +91 22 4100 2455 Website: www.kirinadvisors.com