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