Summary of Protean eGov Technologies Conference Call Company Overview - **Company**: Protean eGov Technologies - **Industry**: Digital identity services in India, specifically related to Aadhaar Key Points 1. **Contract Announcement**: Protean secured a landmark contract worth ₹13.70 crores (approximately $1.65 million) from UIDI to establish and run Aadhaar Seva Kainzas in 188 districts across India [1][2][4] 2. **Project Scope**: The project involves managing front-end activities related to Aadhaar enrollment, biometric and demographic updates, and other services, which are essential for UIDI's mission to provide unique identities to Indian residents [2][3] 3. **Duration and Operations**: This is a six-year engagement where Protean will manage the complete setup and daily operations of the Aadhaar services [3][5] 4. **Market Size**: Aadhaar is the largest biometric identity platform globally, serving 1.4 billion Indian citizens, which is more than the combined populations of North America and Europe [4] 5. **Revenue Model**: Revenue will be recognized on a per-transaction basis rather than as a fixed project fee, with expectations of even revenue spread throughout the contract period [14][34] 6. **Potential for Expansion**: The current contract covers 188 districts, which is only 70% of the total districts in India, indicating potential for future growth and additional revenue opportunities [12][50] 7. **Transaction Pricing**: The average transaction fee is estimated to be around ₹105-110, but specific rates are confidential [20][37] 8. **Payment Flow**: Funds will be collected by UIDI and then paid to Protean on a monthly basis based on transaction volumes [23][34] 9. **Cost Structure**: Major costs include setting up centers, hardware, and manpower [24][25] 10. **Competitive Landscape**: Protean is one of two main players (alongside BLS International) in this contract, with exclusive rights to certain districts [66][67] 11. **Revenue Expectations**: The project is expected to contribute approximately ₹190 crores (around $23 million) in revenue annually, with a significant impact on EBITDA [101][105] 12. **Operational Timeline**: Revenue from this project is anticipated to start contributing to the P&L from Q3 2025 [78] Additional Insights - **Historical Context**: The contract replaces previous operators, indicating a shift in service provision for Aadhaar services [56][58] - **Future Considerations**: The project may be renewed after six years, but specifics are uncertain [80][81] - **Service Continuity**: Other services related to Aadhaar will continue to be available through post offices and banks, ensuring accessibility for citizens [88][90] This summary encapsulates the critical aspects of the conference call, highlighting the strategic importance of the contract for Protean and its implications for the digital identity landscape in India.