Protean e-Gov Technologies Limited, a key player in the Indian e-governance sector, has announced a significant change in its senior management. Dharmesh Parekh, the company's Executive Vice President serving as Chief Information Officer and Head of Cloud Services, has submitted his resignation.

Resignation Details

Parekh tendered his resignation on September 26, 2025, citing personal reasons for his departure. According to the company's disclosure to the stock exchanges, his last working day is scheduled for October 27, 2025. This allows for a one-month transition period, during which Parekh will be available to ensure a smooth handover of his responsibilities.

Company Disclosure

In compliance with regulatory requirements, Protean eGov Technologies has informed both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE) about this senior management change. The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Impact and Transition

While the company has not provided specific details on a successor, it has confirmed that Parekh will be actively involved in the transition process. This approach aims to minimize any potential disruption to the company's operations, particularly in the critical areas of information technology and cloud services.

Company Background

Protean eGov Technologies Limited, formerly known as NSDL e-Governance Infrastructure Limited, is a prominent player in India's e-governance landscape. The company is listed on both the BSE and NSE, reflecting its significant role in the public and private sectors.

This management change comes at a time when digital transformation and cloud services are increasingly crucial for both government and corporate entities. The company's ability to seamlessly transition leadership in these key technological areas will be closely watched by industry observers and stakeholders alike.

Protean e-Gov Technologies Limited has secured a significant contract worth Rs. 1,370 crore (including GST) from the Unique Identification Authority of India (UIDAI) to establish and operate Aadhaar Seva Kendras (ASKs) in 188 districts across India. This six-year engagement positions Protean as a key player in scaling up critical national IDs in the country.

Contract Details

Project Highlights

• Protean will manage the complete setup and daily operations of the ASKs
• The contract covers 188 out of 471 total districts in the current mandate
• BLS International secured the remaining districts in a separate contract
• The project is expected to generate Rs. 180.00-190.00 crores annually once fully scaled

Financial Impact

• Revenue contribution projected to begin from Q3 FY2026
• Full scale-up expected within 6-12 months
• The project is anticipated to be EBITDA-accretive with minimal CAPEX requirements

Operational Model

• Transaction-based revenue model
• Pricing regulated by UIDAI, with potential inflation-based increases every two years
• Funds will flow from UIDAI to Protean on a monthly basis based on transaction volumes

Strategic Importance

Suresh Sethi, Managing Director and CEO of Protean e-Gov Technologies, stated, "This is indeed a historic win for us and uniquely positions Protean as the only company contributing towards scaling up two of our critical national IDs for the country."

The Aadhaar Seva Kendras will play a crucial role in:

• Providing services for new births
• Mandated biometric updates at ages 5 and 15
• Addressing existing pendencies
• Facilitating demographic updates

Market Impact

This contract win strengthens Protean's position in the e-governance sector and expands its service portfolio. The company's experience in delivering citizen services at a national scale, combined with its existing PAN and pension services networks, is expected to contribute to the successful execution of this project.

As the project scales up, it has the potential to significantly impact Protean's revenue and profitability in the coming years, while also playing a crucial role in India's digital transformation journey.