Protean eGov Technologies (544021) investor relations material

Landmark contract win and project scope

• Secured a ₹13.7 crore contract (including GST) from UIDAI to establish and operate Aadhaar Seva Kendras in 188 districts across India for six years.

• Centers will handle Aadhaar enrollment, biometric and demographic updates, and related services, supporting UIDAI’s mission of digital identity for all residents.

• The project positions the company as a key player in scaling two critical national ID platforms.

• Aadhaar is the world’s largest biometric identity platform, serving 1.4 billion Indian citizens.

• The initiative is seen as a significant opportunity to contribute to India’s digital transformation.

Revenue model and financial impact

• Revenue will be recognized on a per-transaction basis, evenly spread over the contract period, with inflation adjustments every two years.

• Minimum revenue commitments are in place, and payments will be made monthly by UIDAI based on transaction volumes.

• Estimated annual revenue contribution is around ₹180–190 crore, with the business expected to be EBITDA accretive.

• The contract value is based on reasonable transaction assumptions and can increase if transaction volumes rise.

• Major cost elements include real estate, hardware, and manpower for center operations.

Competitive landscape and expansion potential

• Two companies, including BLS International, have been awarded mandates, with exclusive district allocations (188 out of 471 districts for this company).

• Each provider operates exclusively in their assigned districts; further expansion is possible if UIDAI decides to cover more districts.

• Previous service providers’ mandates will end with this new allocation.

• Centers are exclusive to Aadhaar services and separate from existing PAN card service centers.