Virtual Galaxy Infotech has secured a work order from The Buldana District Central Co-operative Bank Ltd. for the implementation and managed services of a Cyber Security Operations Centre as a Service (C-SoC SaaS). The contract strengthens an existing relationship that dates back to 2014, when the company began providing core banking software solutions to the bank.

The order encompasses the deployment of C-SoC SaaS, including Security Information and Event Management (SIEM), Security Orchestration, Automation and Response (SOAR), User and Entity Behaviour Analytics (UEBA), Threat Intelligence, IT Service Management (ITSM), and 24x7 Security Operations Centre (SOC) monitoring. The agreement is valid for a minimum period of five years from the effective date of the work order and will continue unless terminated by either party.

The aggregate value of the contract is approximately Rs 1.53 crore, exclusive of applicable taxes. This valuation has been computed based on the minimum five-year tenure of the continuing nature of the contract. The bank is a domestic entity, and the transaction is not classified as a related party transaction.

Contract Details

The engagement follows the recent recognition of the company's Cyber Sentinel platform with the TECHNOVITI 2026 Award presented by Banking Frontiers. The platform is designed to deliver enterprise security through a unified architecture integrating SIEM, SOAR, UEBA, Threat Intelligence, and advanced security analytics.

Management Commentary

Mr. Avinash Shende, Chairman, Executive Director and CFO of Virtual Galaxy Infotech Limited, stated that the bank's decision to adopt the Cyber Sentinel-powered C-SOC platform reflects confidence in the company's technology and delivery capabilities. He noted that the engagement validates the cybersecurity portfolio and supports the strategy of expanding recurring SaaS and managed security services within the BFSI sector.

Virtual Galaxy Infotech Limited reported a 60% year-on-year surge in revenue from operations to ₹40.4 crores for the quarter ended June 30, 2026. The growth was primarily fueled by a 69% increase in revenue from the sale of products, which reached ₹39.4 crores, alongside a 66% rise in SaaS services revenue to ₹17.9 crores. The company has reiterated its revenue growth guidance of 40-50% for FY27.

The orderbook doubled year-on-year to ₹145.5 crores, reflecting a 100% increase. This expansion was supported by strategic business developments, including a US$1.1 million software development contract with Botswana Development Corporation and a US$550K digital payments order in Zimbabwe. Additionally, the firm signed a two-year memorandum of understanding (MoU) with Konkan Railway to pursue opportunities in ERP, AI, cybersecurity, and digital payments.

Operational Performance

The company continued to invest in AI infrastructure to enhance compute capacity and strengthen long-term technology capabilities. Sustained investments in research and development were directed towards strengthening proprietary technology platforms with AI capabilities. The headcount increased by 31% in FY25 to 468 employees.

Key Financial Metrics

The revenue figures presented are provisional and unaudited, subject to audit. The disclosure was submitted to the National Stock Exchange of India under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.