Softtech Engineers Ltd Share Price

History of Softtech Engineers Ltd

SoftTech Engineers Limited was incorporated as a Private Limited Company with the name 'SoftTech Engineers Private Limited' on June 17, 1996 at Ahmedabad, Gujarat, which later, converted into a Public Limited Company and the name of the Company was changed to 'SoftTech Engineers Limited' on March 1, 2018. SoftTech is a software product innovation company which caters to the Architecture, Engineering and Construction (AEC) verticals. Innovation' is the key to any business and its products are innovative across the entire value chain in the construction industry. The Company is partnering the government in its mission - 'Ease of Doing Business' by associating itself as a 'Smart City Solution Provider' meeting the requirements of the automation in Architecture, Engineering & Construction ( ...AEC) verticals using its expertise in IT. The Company has been specialising in developing product for e-governance and construction ERP products for smart city projects, municipal corporations, urban local bodies, development authorities and work organizations. The Company also offers 2D and 3D CAD based intelligent and machine learning driven technology which eliminates entire human intervention along with providing Cloud Technology enabled products offered as 'SaaS'. The Company was founded by the Promoter, Mr. Vijay Gupta, who started by launching its first product - STRUDS in the year 1996, which was used for Structural Analysis and Designing. In the year 2000, the company launched another product, ESRGSR, which was also used on the same line. With growing acceptance of its products, the company received a Venture Capital funding from SIDBI Venture Capital in year 2003. Between the year 1997 - 2011, various updated versions of its product STRUDS were released. Both products viz., STRUDS and ESR GSR were acquired in year 2011 by CSC (UK) Limited. Meanwhile, the Company had already launched two new products viz., PWIMS and AutoDCR which have been the flagship products of the Company since its launch in the year 2004 and 2005 respectively. PWIMS provides a complete online solution to Public Works Department (PWD) for e-procurement and work management. AutoDCR is a software for automation of building permits approvals which is used by the government authorities in scrutinizing and automating the building permits based on the CAD based building plan which works on an online system and environment. Riding on the success of these products, the Company in year 2010 launched, OPTICON which caters to the needs of construction contractors and real estate companies by helping them in cost estimating, construction management and overall automation. The success has again been entrusted by another VC funding round from Rajasthan Venture Capital Fund in the year 2014 which acquired 26.77% stake of the Company. The Company is certified and ascertained as an ISO 9001:2008 and ISO 9001:2015 for development and marketing of software products and IT solutions. The Company has strategic business alliances with key organizations such as - Microsoft and Autodesk. All these partnerships helps the Company to provide integrated and seamless solutions to customers and boost the solutions through technological advancements. The Company incorporated a subsidiary with Charitable Objectives named SoftTech Care Fundation, on 14 April, 2021. It incorporated a wholly Owned subsidiary named AmpliNxt Private Limited on 29 October, 2021. In August, 2021, the Company acquired 15% stake in Singapore based company, 'Qi Square Private Limited'. It launched a new hybrid corporate venture program titled 'AmpliNxt' on 17 June, 2021. The Company incorporated a Wholly Owned Subsidiary Company named 'SoftTech Digital Pte. Ltd.' in Singapore on 3 October, 2022 with the object of International Market Penetration of SoftTech's products established in India.