Network People Services Technologies Limited has accepted the resignation of Ms. Savita Vashist as Executive Director, effective from the close of business hours on August 24, 2026.

The company disclosed in a regulatory filing that Ms. Vashist stepped down due to personal health reasons. She confirmed that there are no other material reasons for her resignation aside from these health grounds.

Ms. Vashist, who holds DIN 08658850, cited unforeseen personal health challenges requiring her immediate attention as the primary driver for the decision. She stated that these issues make it difficult to devote the necessary time and focus to fulfill executive duties effectively.

Regulatory Disclosure

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III thereof. The filing also references SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Ms. Chetna Chawla, Company Secretary and Compliance Officer, signed the disclosure on August 25, 2026. The company confirmed that Ms. Vashist does not hold directorships in any other listed entities.

In her resignation letter, Ms. Vashist expressed gratitude to the Board, management team, and shareholders for their support during her tenure. She requested the company to complete the necessary regulatory formalities regarding her cessation.

Network People Services Tech reported consolidated revenue of ₹61.4 crore in Q1FY27, a 75% year-on-year increase, while net profit rose to ₹11.4 crore. During the earnings conference call held on August 12, 2026, management reaffirmed its full-year revenue growth guidance of 60-70% and an EBITDA margin target of approximately 30% for FY27.

Q1 Financial Performance

The company’s financial results for the quarter ended June 30, 2026, reflect a strategic pivot towards high-margin technology solutions and international markets. Consolidated revenue reached ₹61.4 crore, compared to ₹35.1 crore in Q1FY26 (derived from the 75% growth statement). Net profit stood at ₹11.4 crore, an increase of ₹53 crore over the prior year period as stated by Chairman and Managing Director Deepak Chand Thakur.

Note: The source states net profit went up by ₹53 crore to ₹11.4 crore. This implies a previous year figure of -₹41.6 crore, though the existing article cited ₹72M profit. The new transcript data is prioritized per merge rules.

Strategic Shift and Guidance

Management addressed the quarter-on-quarter revenue decline, explaining that the business model has shifted from Payment Platform as a Service (PPaaS), which contributed 90% of revenue previously, to a diversified mix including RegTech, AI-based risk intelligence, and international SaaS solutions. The PPaaS segment now projects only a 5% contribution due to regulatory risks associated with Merchant Discount Rate (MDR) uncertainties on UPI transactions.

Chairman Deepak Chand Thakur emphasized that investors should evaluate performance on a year-on-year basis rather than sequentially, given the milestone-based nature of new technology contracts. The company maintained its FY27 revenue guidance of 60-70% growth, projecting total revenue in the range of ₹320 crore to ₹340 crore. The EBITDA margin guidance of 30% remains unchanged, supported by higher-margin international deals and RegTech products.

International Expansion and RegTech

International business currently contributes 10-12% of revenue but is targeted to grow to 30% within two years and potentially 50% by FY29. Management highlighted that international margins range between 30-40%, significantly higher than the 15-20% domestic margins. Two additional international deals are in the pipeline, with implementation cycles ranging from four to nine months.

In the domestic market, NPST secured an order from a large Public Sector Undertaking (PSU) for its AI-based risk intelligence product in the RegTech vertical. The company plans to launch a SaaS-based subscription model for mid-to-small-sized banks to address a larger addressable universe. Management noted that the RegTech product has processed approximately 650 million transactions with 98% accuracy, positioning it as a first-mover advantage with no direct competition.

MDR Impact and Future Outlook

The introduction of MDR on UPI transactions is viewed positively by management. While specific revenue projections await regulatory clarity from NPCI and banks, Thakur indicated that MDR would revive the PPaaS segment and provide direct revenue sharing opportunities through acquiring platforms. The company expects indirect benefits through increased investment by banks in payment infrastructure upgrades.

Looking ahead, management targets a CAGR of 60-70% for the next two to three years, potentially reaching a top line of ₹850-900 crore by FY29. EBITDA margins are expected to expand to 35% or more in the same period, driven by the scaling of international operations and RegTech offerings. The company also plans to deploy IPO proceeds into three strategic areas: RegTech, AI solutions, and payment infrastructure, with initial deployments expected in the next two quarters.