Financial Performance Q2 FY27

Revenue: ₹415 Crore, representing 16.0% year-on-year growth

Segment Revenue Breakdown:

  • Banking and Fintech: ₹201 Crore (48% of total revenue)
  • Technology Innovation Group (TIG): ₹214 Crore (52% of total revenue)

Profitability Metrics:

  • EBITDA: ₹71 Crore
  • EBITDA Margin: 17.2%
  • PAT: ₹50 Crore
  • PAT Margin: 12.1%

Business Metrics:

  • Order Book: ₹2,050 Crore
  • New Logos: 28 new customers acquired during Q2 FY27

Operational Highlights

Banking & Fintech Segment:

  • Secured six-year enterprise license with Ujjivan Small Finance Bank for iCashpro+ Transaction Banking Platform to power corporate internet and mobile banking, virtual accounts, API banking, host-to-host, and payments and collections capabilities
  • Achieved go-live of multiple transaction banking projects across Asia, including Bank of Ceylon
  • Renewed contract with State Bank of India for Murex application support
  • New customer win in Europe through InfraRisk, expanding presence in automotive sector risk management solutions
  • Secured deal with Integro Retail for first new collections system and new RLOS (Retail Loan Origination System) deals from existing accounts

Technology Innovation Group Segment:

  • Secured additional order worth approximately ₹50 Cr from MMRDA to deploy Automated Fare Collection (AFC) solution across six stations on Mumbai Metro Line 5 Phase I
  • Achieved go-live of IRCTC iPay across all five identified IRCTC merchants: e-Ticketing (Website and Mobile App), Air Ticketing, Tourism, National Rail Museum and Retiring Room, with payment processing, reconciliation and refund capabilities now operational
  • Expanded partnership with Mastercard to help North American transit agencies adopt contactless payments and integrated ticketing
  • Entered European market with Matkahuolto, Finland's provider of parcel and digital transport services, selecting Aurionpro as device vendor for its contactless EMV (cEMV) project
  • Secured first purchase order from GMR for installation of newly developed Security Check-In Kiosk for airports
  • Appointed Mr. David Maitland as Chief Strategy Officer for Smart Mobility
  • Entered strategic partnership to expand Account-Based Ticketing (ABT) solutions in Australia

Data Centre Business:

  • Secured cumulative orders from leading global hyperscaler to build and deliver AI-ready data centre in Navi Mumbai, taking overall order book for project close to ₹300 crore
  • Launched dedicated data centre infrastructure facility in Bhiwandi, Mumbai to support data centre projects including warehousing, storage, fabrication and assembly activities
  • Secured new data centre order in Uganda, expanding portfolio across Africa

Awards & Accolades

  • Integro Lending Suite recognized as Category Leader across all five evaluated quadrants in Chartis Credit Lending Operations Report 2026
  • Recognized by Forbes Asia as one of the "Best Under A Billion" companies for 2026

Management Commentary

Mr. Ashish Rai, Group CEO, commented on the performance:

  • Q2 FY27 performance reflects clear step-up in momentum with revenue reaching ₹415 crore, up 16% both YoY and sequentially
  • Profitability sustained despite accelerated R&D investments and continuing input cost pressures
  • Market validation of strategy with exceptional customer interest and engagement for AI-native banking stack
  • Deal velocity noticeably up with several engagements at advanced stages and multiple Proofs of Concept underway across Asia and Europe
  • Rollout of brand new AI-native software every quarter this year
  • Technology Innovation Group strategy delivering strong validation with significant traction in order books and pipelines
  • "Bits to atoms" strategy showing commercial success through deeper backward integration across software, engineering, and manufacturing
  • Expanding advanced manufacturing capabilities to produce critical infrastructure components for next-generation Data Centres and mass transit systems
  • H1 margins reflected planned front-loading of R&D and development expenditure capitalised under applicable accounting standards
  • Incremental intensity of investments peaked in H1 and will likely moderate going forward
  • Entering H2 FY27 with order book of approximately ₹2,050 crore and improving execution velocity

Earnings Conference Call Details

Date: Monday, November 02, 2026

Time: 9:30 AM IST

Registration Link: https://zoom.us/webinar/register/WN_9NbpLHFBTbqDtupW204tPA#/registration