Protean eGov Technologies Limited has secured a major international contract worth ₹25.00 crore for implementing Digital Public Infrastructure and services for Ethiopia's Agriculture Ecosystem. The company received and acknowledged the work order on January 09, 2026, marking a significant milestone in its international expansion strategy.

Contract Overview and Strategic Significance

The contract represents a strategic expansion of Protean eGov Technologies' Digital Public Infrastructure (DPI) capabilities into international markets. This achievement aligns with the company's strategy to leverage its DPI expertise globally and marks a significant step forward in collaborative efforts to develop Digital Public Goods for the agricultural sector.

Scope of Work and Technology Solutions

Under this engagement, Protean will function as a system integrator delivering comprehensive end-to-end technology solutions. The project encompasses program management and engineering services, including design, development, deployment, and ongoing support of an AI-powered digital platform specifically tailored for Ethiopia's agricultural needs.

The technology implementation will focus on building Global Digital Public Goods (DPGs) to create a unified agricultural ecosystem. Key components of the digital infrastructure include:

• Unique farmer and farm identification systems
• Integrated data management for crops, soil, and livestock
• AI-driven advisory services for agricultural decision-making
• Comprehensive digital platform supporting Ethiopia's agricultural sector

Project Structure and Implementation

The contract structure follows a time and material model, allowing for flexible resource allocation throughout the 17-month implementation period. Protean's role as system integrator positions the company to deliver comprehensive technology solutions while ensuring seamless integration across all agricultural ecosystem components.

Regulatory Compliance and Disclosure

The contract announcement was made in compliance with Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no promoter, promoter group, or group companies have any interest in the awarding entity, and the contract does not fall within related party transactions.

This significant contract win demonstrates Protean eGov Technologies' growing capabilities in international Digital Public Infrastructure projects and strengthens its position in the global agricultural technology sector. The project's focus on Digital Public Goods development further reinforces the company's commitment to creating scalable, impactful technology solutions for agricultural ecosystems.

Protean eGov Technologies Limited has made a strategic investment of ₹30.20 crores to acquire a 4.95% equity stake in NSDL Payments Bank Limited, marking a significant milestone in the company's growth trajectory. The acquisition, funded entirely through internal accruals, represents a strategic alignment between two institutions focused on digital public infrastructure and financial inclusion.

Strategic Partnership Overview

NSDL Payments Bank, a wholly-owned subsidiary of National Securities Depository Limited, operates as a digital-first banking institution serving over 3 million active customers as of September 2025. The bank focuses on delivering simple, secure, and accessible banking services to underserved and unbanked populations across India.

Technology and Service Synergies

The partnership leverages Protean's three decades of experience in Digital India evolution and population-scale e-governance platforms. Managing Director and CEO Suresh Sethi highlighted that the collaboration will enable co-creation, piloting, and certification of future-ready digital banking technologies on a secure and compliant platform.

Key synergy areas include:

• Identity ecosystem services across KYC, authentication, and consent management
• Regulatory technology solutions for banking compliance
• API banking stack development and certification
• Digital workflow solutions including eSign and eStamping services

Distribution Network Expansion

The strategic investment will significantly expand both companies' distribution capabilities across India. Protean operates approximately 400,000 active service points monthly through its national PAN services network, while NSDL Payments Bank maintains nearly 1 million service points for last-mile banking services.

The combined network will enable cross-distribution of services, with Protean's MSME credit and pension products reaching banking customers, while banking products extend through Protean's established distribution channels.

Digital Banking Innovation Focus

NSDL Payments Bank's current offerings include paperless account opening, zero-balance digital savings accounts, and instant payment solutions leveraging UPI, IMPS, and Aadhaar-enabled payment systems. The partnership will enhance these capabilities through advanced technology integration, including AI-powered solutions for fraud detection, decision support systems, and multilingual interfaces for rural communities.

Sethi emphasized that the collaboration will focus on building comprehensive technology stacks that can be scaled across multiple financial institutions, creating certified banking solutions through regulatory sandbox environments.

Investment Rationale and Future Outlook

The strategic investment approach, rather than a purely transactional partnership, allows Protean to participate in the value creation of NSDL Payments Bank while maintaining the ability to scale developed solutions across other financial institutions. The company confirmed no immediate plans for additional stake increases, focusing instead on maximizing synergies from the current partnership structure.

The investment aligns with India's financial ecosystem evolution toward digital-first models, with payment banks serving as high-throughput technology platforms within the Reserve Bank of India's regulatory framework. This partnership positions both entities to address last-mile financial inclusion challenges through innovative digital solutions and expanded distribution networks.