Sundaram Infotech bags big contract from IFMR Capital

Sundaram Infotech, the IT subsidiary of non-banking finance company Sundaram Finance, has bagged one of its biggest deals in the domestic market.

However, the company did not disclose the size or the tenure of the deal in its statement issued today.

"...The company has bagged a significant domestic IT deal from IFMR Capital, a city-based non-banking finance company founded by IFMR Trust. This is one of the biggest wins for Sundaram Infotech in domestic market," the statement said.

Sundaram Infotech through this deal would design, develop and implement a customised financial software solution using Microsoft technologies. Besides, it would create a scalable system on a single software platform that will enable IFMR Capital to standardise their current operations, it said.

"This deal further strengthens our growing presence in domestic IT market and follows the ERP PSU deal we had signed in last quarter. This deal with IFMR Capital is a testimony to our credibility as a strong player in the NBFC space...," the statement said.

"We have chalked out strong growth plans that will require a robust IT system. We chose Sundaram Infotech for their deep domain expertise in the NBFC space with proven ability in custom software application development," it said.

Sundaram Infotech has around 10 customers in the NBFC segment including one in the Middle-East region, the statement added.

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