Onward Technologies Renews Rs. 444.6 mn Digital Services Contract
The renewed contract represents a 72 per cent increase in value compared with the previous agreement. The expansion reflects the customer’s continued confidence in Onward Technologies’ delivery capabilities, digital engineering expertise and strategic partnership, the company said in the filing.
Under the agreement, Onward Technologies will provide managed digital services for the customer’s global e-commerce and aftermarket business platforms. The scope covers application development and enhancement, cloud-native application engineering, microservices architecture, application programming interfaces, DevOps-enabled delivery, testing, deployment, integration and application support.
The contract has an outcome-based commercial structure and a duration of 3 years. Delivery will be provided entirely offshore from Onward Technologies’ delivery centres in India. The filing classifies the entity awarding the contract as domestic, while the services will support the customer’s international business platforms.
The company said the work will focus on strengthening and maintaining the customer’s aftermarket e-commerce platform through application engineering and related technology services. The engagement is not classified as a related-party transaction, and Onward Technologies stated that its promoter, promoter group and group companies have no interest in the entity awarding the contract. The contract disclosure was submitted under Regulation 30 of the Securities and Exchange Board of India’s listing regulations.