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Virtual Galaxy Infotech Secures Rs 19.78 Crore Renewal Contract from Osmanabad DCC Bank

Posted on July 3, 2025

VIRTUAL GALAXY INFOTECH LIMITED SECURES AROUND RS. 19.78 CRORE RENEWAL CONTRACT FROM OSMANABAD DISTRICT CENTRAL COOPERATIVE BANK

July 03, 2025: Virtual Galaxy Infotech Limited, a leading player in hybrid SaaS and enterprise software solutions, has secured a renewal contract order to the tune of Rs 19.78 crore from Osmanabad District Central Cooperative Bank. As a part of the contract, the company will work on Core Banking Solution project on hybrid SaaS (Capex/ Opex) mode for supply, installation, commissioning and management of CBS, Data Center, DR Site, networking and connectivity. The contract is for a period of seven years.

Virtual Galaxy Infotech provides core banking software solutions, IT solutions, ERP implementation and customized software solutions development and IT services for the BFSI, ERP, and E-Governance domains. BFSI segment accounts for nearly 92 per cent of its total business but it has also been witnessing a steady traction in the other segments including ERP and e-governance among others.

Commenting on the development, Sachin Pande, Co-founder & Managing Director of Virtual Galaxy Infotech, said, “The renewal contract from Osmanabad District Central Cooperative Bank is a testament to the company’s unwavering commitment to providing exceptional services tailored to the needs of customers. This strategic seven-year engagement represents the renewal of a relationship that has flourished for the past seven years, demonstrating the exceptional client retention capabilities of the team. The company’s evolution reflects our steadfast commitment to innovation and client-centric service delivery. From securing our first significant project with a cooperative bank in 1998, we have systematically expanded our footprint to serve multiple bank branches, over 200 clients including numerous manufacturing firms and business houses.”

The company recently forayed into the cybersecurity domain by launching a groundbreaking cybersecurity product, Cyber Sentinel to address the rapidly evolving threat landscape. With this product, the company aims to leverage its extensive expertise in AI-driven technologies and enterprise solutions and redefine how organizations safeguard their digital assets in an era of increasing cyber risks.

For the year ended March 31, 2025, the company registered 97.05 per cent rise in net profit on a standalone basis at Rs 32.12 crore, as compared with Rs 16.30 crore in 2023-24. Revenue from operations on standalone basis increased by 95.48 per cent at Rs 120.14 crore during 2024-25, as against Rs 61.46 crore in FY24.

The company recently made a stellar debut on the stock exchange and got listed at a premium of 26.76 per cent on NSE Emerge.

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