Protean eGov Technologies Limited has informed the Exchange about Transcript
PROTEAN · price
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Protean eGov Technologies has won a Rs. 1,370 crore (including GST) contract from UIDAI to set up and operate Aadhaar Seva Kendras in 188 districts across India. This is a 6-year managed services engagement where revenue is earned per transaction (blended ~Rs. 100-105 per transaction), with regulated pricing that includes inflation-linked increases every two years. The company expects Rs. 180-190 crore in annual revenue from this contract, starting from Q3 FY26, and management said it will be EBITDA-accretive. The model is largely OPEX-driven (real estate, hardware, manpower) with minimal CAPEX, and payments will be received monthly from UIDAI, so working capital is not a concern. Protean and BLS International are the only two players, splitting 471 districts (Protean 40%, BLS 60%), replacing previous operators Karvy and IDEMIA.
This is a significant multi-year revenue win that meaningfully expands Protean's national ID footprint beyond PAN. For shareholders, it adds a high-margin, transaction-based annuity stream to the topline and is likely to be viewed positively by the market, though the Rs. 1,370 crore is based on reasonable assumptions and revenue could exceed it with higher volumes.