Protean eGov soars 11% on order win; stock up 27% in nine sessions

Protean eGov shares rose 11 per cent after it won an order worth ₹1,160 crore from the Unique Identification Authority of India

Shares of Protean eGov Technologies Ltd. rallied over 11 per cent on Tuesday after the company landed an order worth ₹1,160 crore from the Unique Identification Authority of India (UIDAI), New Delhi.

 

The IT-enabled services' stock rose as much as 11.68 per cent during the day to ₹915 per share, the biggest intraday rally since August 20 this year. The stock pared gains to trade 9.9 per cent higher at ₹900 apiece, compared to a 0.77 per cent advance in Nifty 50 as of 9:42 AM. 

 

Shares of the company are up over 27 per cent from their August lows as the stock rose 16 per cent on August 20. The stock currently trades at 71 times the average 30-day trading volume, according to Bloomberg. The counter has fallen by over 41 per cent from its listing price on February 6 this year. Protean eGov has a total market capitalisation of ₹3,702.26 crore.  

 

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Protean eGov wins ₹1,160 crore order 

The company secured a work order worth around ₹1,160 crore (exclusive of taxes) from the Unique Identification Authority of India (UIDAI), New Delhi, according to an exchange filing. The mandate involves establishing and operating District Level Aadhaar Seva Kendras (ASK) across 188 districts in India. 

 

These centres will provide appointment-based and walk-in Aadhaar enrolment, update, and other related services, the statement said. The project, which falls under the outsourcing delivery of public services, is to be executed over six years.

 

Protean clarified that the order was awarded by a domestic entity, and neither the company’s promoters nor group companies have any interest in UIDAI. The contract does not fall under related-party transactions.

 

Protean eGov is an Indian technology company focused on providing digital solutions for e-governance and enhancing public sector services. It offers a wide range of services, including e-taxation, digital identity management, online payments, and data management for government entities. Protean is involved in building secure, scalable digital infrastructures that streamline government operations and improve citizen engagement.  

 

Protean eGov Q1 results 

The company reported a 13.09 per cent rise in net profit at ₹23.85 crore for the quarter ended June 2025, compared with ₹21.09 crore in the same quarter last year. Revenue from operations increased 7.28 per cent to ₹210.84 crore from ₹196.54 crore in the year-ago period.

 

Expenses for the quarter declined 2.2 per cent sequentially but rose 9.7 per cent year-on-year (Y-o-Y). Net profit grew 23.6 per cent quarter-on-quarter and 13.1 per cent Y-o-Y.