Protean eGov Technologies Limited has informed the Exchange regarding ''Update on RFP issued by the Income Tax Department inviting bids for PAN 2.0".
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Protean eGov Technologies participated in a Request for Proposal (RFP) from the Income Tax Department for the PAN 2.0 project, which involves designing, developing, and maintaining the next-generation PAN system. The company has not been selected to advance to the next round of the bidding process. Importantly, Protean clarified that this RFP appears to be a technology revamp project and is separate from its existing PAN processing and issuance services, which continue unchanged under the current mandate.
While missing out on the PAN 2.0 contract is a negative development, the company has stated it has limited or minimal impact on its ongoing PAN services. Existing revenue streams remain intact, but future growth opportunities in this segment may be limited.