Protean Reports Rs 2.1 Billion Revenue in Q1FY26
ECONOMY & POLICY

Protean Reports Rs 2.1 Billion Revenue in Q1FY26

Protean eGov Technologies Ltd, a pioneer in building Digital Public Infrastructure in India, has reported consolidated revenue from operations of Rs 2.11 billion for the quarter ended 30 June 2025 (Q1FY26), compared to Rs 1.97 billion in the same period last year. This growth was primarily driven by continued momentum in CRA, tax, and identity services.
EBITDA for the quarter stood at Rs 450 million, up from Rs 340 million in Q1FY25, with the EBITDA margin improving by 284 basis points year-on-year to 18.8 per cent. Profit after tax rose to Rs 240 million, compared to Rs 210 million in the corresponding period last year, resulting in a PAT margin of 10.0 per cent. The company ended the quarter with a strong balance sheet, holding over Rs 8 billion in cash equivalents and marketable securities and maintaining zero debt.
Protean’s tax services segment gained approximately 80 basis points in market share, rising from 58.2 per cent in Q4FY25 to 59.0 per cent in Q1FY26. The company issued nearly 10 million PAN cards during the quarter. CRA services delivered 16 per cent year-on-year revenue growth, with 3.24 million new subscribers onboarded, accounting for a significant 98 per cent share of all new subscriber additions. More than 753 corporates were also onboarded, and the company retained a 97 per cent market share across NPS, APY, and UPS schemes.
In identity services, volume growth remained strong across most ID products, although revenue was affected by slab-based pricing and pressure at the foundational pricing level. Despite this, the company remains optimistic about the segment’s future, supported by the broader momentum of the Digital India initiative. Value-added offerings such as eSignPro and RISE with Protean, which are built on the company’s core identity infrastructure, are expected to benefit from this ongoing shift.
Furthering its commitment to financial inclusion, Protean signed a Statement of Intent with NITI Aayog to support the implementation of social security schemes like the Atal Pension Yojana across 64 Aspirational Districts in India. The company is also expanding its presence in Open Digital Ecosystems (ODEs), focusing on sectors such as e-commerce, mobility (ONDC), health, agriculture, education, and sustainability. As of 30 June 2025, the company had a healthy project pipeline with an order book exceeding Rs 3 billion.
A major milestone during the quarter was winning a Rs 1 billion mandate from the Bima Sugam India Federation to develop a nationwide digital platform for insurance products and services. This initiative, part of a first-of-its-kind Insurance Digital Public Infrastructure (DPI), aims to establish a unified, national-scale insurance marketplace.
Protean also received recognition at the ET Brand Equity Brand Disruption Awards 2025, securing a Silver Award for Best Celebrity Endorsement for its 'Impacting Everyone, Everyday' campaign and a Bronze Award for Best Communication, affirming its leadership position in the Digital Public Infrastructure domain.
Commenting on the performance, Managing Director and CEO Suresh Sethi said the company continues to deliver resilient growth while retaining its leadership in Digital Public Infrastructure. He highlighted the success of CRA and tax services, the partnership with NITI Aayog to enhance financial inclusion, and the significance of the Bima Sugam mandate as a transformative step for the insurance sector. Sethi reaffirmed Protean’s commitment to innovation, scale, and long-term value creation for all stakeholders. 

Protean eGov Technologies Ltd, a pioneer in building Digital Public Infrastructure in India, has reported consolidated revenue from operations of Rs 2.11 billion for the quarter ended 30 June 2025 (Q1FY26), compared to Rs 1.97 billion in the same period last year. This growth was primarily driven by continued momentum in CRA, tax, and identity services.EBITDA for the quarter stood at Rs 450 million, up from Rs 340 million in Q1FY25, with the EBITDA margin improving by 284 basis points year-on-year to 18.8 per cent. Profit after tax rose to Rs 240 million, compared to Rs 210 million in the corresponding period last year, resulting in a PAT margin of 10.0 per cent. The company ended the quarter with a strong balance sheet, holding over Rs 8 billion in cash equivalents and marketable securities and maintaining zero debt.Protean’s tax services segment gained approximately 80 basis points in market share, rising from 58.2 per cent in Q4FY25 to 59.0 per cent in Q1FY26. The company issued nearly 10 million PAN cards during the quarter. CRA services delivered 16 per cent year-on-year revenue growth, with 3.24 million new subscribers onboarded, accounting for a significant 98 per cent share of all new subscriber additions. More than 753 corporates were also onboarded, and the company retained a 97 per cent market share across NPS, APY, and UPS schemes.In identity services, volume growth remained strong across most ID products, although revenue was affected by slab-based pricing and pressure at the foundational pricing level. Despite this, the company remains optimistic about the segment’s future, supported by the broader momentum of the Digital India initiative. Value-added offerings such as eSignPro and RISE with Protean, which are built on the company’s core identity infrastructure, are expected to benefit from this ongoing shift.Furthering its commitment to financial inclusion, Protean signed a Statement of Intent with NITI Aayog to support the implementation of social security schemes like the Atal Pension Yojana across 64 Aspirational Districts in India. The company is also expanding its presence in Open Digital Ecosystems (ODEs), focusing on sectors such as e-commerce, mobility (ONDC), health, agriculture, education, and sustainability. As of 30 June 2025, the company had a healthy project pipeline with an order book exceeding Rs 3 billion.A major milestone during the quarter was winning a Rs 1 billion mandate from the Bima Sugam India Federation to develop a nationwide digital platform for insurance products and services. This initiative, part of a first-of-its-kind Insurance Digital Public Infrastructure (DPI), aims to establish a unified, national-scale insurance marketplace.Protean also received recognition at the ET Brand Equity Brand Disruption Awards 2025, securing a Silver Award for Best Celebrity Endorsement for its 'Impacting Everyone, Everyday' campaign and a Bronze Award for Best Communication, affirming its leadership position in the Digital Public Infrastructure domain.Commenting on the performance, Managing Director and CEO Suresh Sethi said the company continues to deliver resilient growth while retaining its leadership in Digital Public Infrastructure. He highlighted the success of CRA and tax services, the partnership with NITI Aayog to enhance financial inclusion, and the significance of the Bima Sugam mandate as a transformative step for the insurance sector. Sethi reaffirmed Protean’s commitment to innovation, scale, and long-term value creation for all stakeholders. 

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?