In a BSE filing made after market hours yesterday, the company said that the project involves the technology upgrade of customers' existing SAP applications to the latest version and S4HANA implementation for all current applications. It also includes the implementation of several new SAP modules and productivity tools. The migration of the entire set-up to cloud infrastructure is also included in the project.
"The execution of the project has begun with a total duration of 4 years, including support," it added.
ABM Knowledgeware develops and markets computer software for government offices and agencies.
The company's consolidated net profit surged to Rs 6.07 crore in Q1 FY21 from Rs 2.10 crore in Q1 FY20. Net sales during the quarter rose marginally, by 0.8% YoY, to Rs 15.64 crore.
The stock has jumped 123.14% in the past six months while the benchmark S&P BSE Sensex rose 28.01% during the same period.