Protean eGov Technologies Receives Order Worth Rs 1,160 Crore From UIDAI

Protean eGov Technologies Ltd. received an order worth Rs 1,160 crore from the Unique Identification Authority of India on Monday.

The order is for establishing and running district level Aadhaar Seva Kendras, according to the exchange filing on Monday. The company will run 188 district-level Aadhar Seva Kendras for six years.

According to the order, the company will also provide appointment based Aadhaar enrolment, update and other miscellaneous Aadhaar Services.

Protean eGov Technologies in June secured an order worth Rs 100 crore from Bima Sugam India Federation Ltd. and RPF to provide a technology solution. The company will design, develop, implement, support, and maintain the Bima Sugam Digital Marketplace platform. This also includes platform integrations and marketplace protocols, the exchange filing said. The contract is for six years.

The business update was shared after market hours. The stock settled 3.74% lower at Rs 819.30 apiece on the NSE, compared to a 0.39% advance in the benchmark Nifty 50.

Protean e-Gov's shares have fallen 44.25% since its listing in February this year.

Out of six analysts tracking the company, three maintain a 'buy' rating, two recommend a 'hold' and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 977.50 implies an upside of 19.3%.