A leading technology solutions provider has secured a significant contract in the government digital infrastructure space. The company has been selected as the system integrator for a critical national registry, marking a substantial milestone in its strategic growth trajectory.
The work order, valued at ₹161 crore, spans an impressive 69-month period and demonstrates the firm’s expertise in developing comprehensive digital governance platforms. This project underscores the organisation’s capability to handle complex, large-scale technological implementations for key national institutions.
Share Price Movement
The share price of Protean eGov Technologies Limited went up by 2.9 percent to Rs. 1,811 per share on Tuesday, an increase from its previous close of Rs. 1,759.15 per share. The market capitalisation now stands at approximately Rs. 7,212 crore as of December 03, 2024.
What happened
Protean eGov Technologies Limited has received a work order from the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a Government of India undertaking.
The company will serve as the system integrator for the design, development, implementation, and operations & maintenance of the Central KYC Records Registry (CKYCRR 2.0). The contract is valued at approximately INR 161 crore and is to be completed within 69 months from the date of execution. This project is a domestic order.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Protean eGov Technologies’s consolidated revenue from operations has decreased by 6.7 percent YOY from Rs. 236 crore in Q2 FY24 to Rs. 220 crore in Q2 FY25 and increased by 11.6 percent QoQ from Rs. 197 crore in Q4 FY24.
The company’s consolidated net profit has decreased by 15 percent, from Rs. 33 crore in Q2 FY24 to Rs. 28 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 33 percent QoQ from Rs. 21 crore.
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Market Outlook
The Indian IT and ITeS sector has a leading global presence and contributes significantly to the country’s economic growth, exports, and employment opportunities. However, the sector faces challenges such as macroeconomic headwinds and geopolitical uncertainties, leading to cautious IT spending by clients, which delays deal closures. Despite this, the sector’s revenue is estimated at US $254 billion, with a 3.8% growth rate. The BFSI sector in India has witnessed a surge, growing by 31.6% YoY, driven by the mass adoption of digital technologies and the increasing focus on offering digital platforms and services. If you wish to learn, explore the IIT Bombay AI course!
Shareholding Pattern
As of the December 2024 shareholding pattern, Protean eGov Technologies Limited is primarily held by the public at 64.43 percent, foreign institutional investors hold 6.71 percent, and domestic institutional investors hold 28.87 percent.
About Company
Protean eGov Technologies Limited, based in Mumbai, is a leading Indian technology company focused on digital public infrastructure and e-governance. Established in 1995 as NSDL e-Governance Infrastructure Limited, the company has since evolved and rebranded to offer a wide range of IT services tailored to government needs.
The company specialises in e-governance solutions, digital infrastructure, and cybersecurity services. Protean develops and deploys large-scale technology solutions to enhance public services, including tax administration, pension management, and identity verification. It partners with both central and state governments to create digital frameworks that streamline service delivery. Notably, Protean manages projects such as the Tax Information Network (TIN) and National Pension Scheme (NPS), which directly impact millions of citizens.
In conclusion, Protean eGov Technologies continues to drive innovation in India’s governance, leveraging its expertise to improve efficiency and accessibility in public services. With its growing portfolio, Protean remains a key player in digital transformation for the public sector.
Written By Fazal Ul Vahab C H
Disclaimer
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