NPST Reports ₹134 Crore H1 Revenue; Secures 10-Digit "Bank-in-a-Box" Order

Key numbers

Revenue Growth YoY	45.13%Q2 Performance
Market Cap	₹3,682.62 CrCommercial Services
Net Profit Qtr	₹13.22 Cr34.3% YoY Growth
PE TTM	90.19Sector PE 47.01

Key highlights

• H1 FY27 revenue surged 60% YoY to ₹134 crore; Q2 revenue rose 50% YoY to ₹72.95 crore
• Secured a ten-digit domestic order for 'Bank-in-a-Box' solutions covering 300+ banks
• TSSP segment now contributes 80-85% of total business, up from 15-20% two years ago
• Signed contract with the largest global telecom service provider for expansion in 10 countries
• Management maintains FY27 revenue growth guidance of 60% to 70% with improving margins

Strategic Pivot Drives Record Financial Growth

Network People Services Technologies (NPST) reported a consolidated total income of ₹72.95 crore for the September 2026 quarter, a 50% rise year-on-year. This quarterly peak brought H1 FY27 revenue to ₹134 crore, reflecting 60% growth compared to H1 FY26. A critical driver of this performance is the Technology Service Provider (TSSP) segment, which has expanded its contribution to 80-85% of total business from a mere 15-20% just two years ago.

Net profit for the quarter rose 34.3% to ₹13.22 crore, supported by the successful transition from a licensing model to a high-volume, recurring revenue framework.

Ten-Digit LOI Secures Access to 300+ Banks

• Secured a landmark ten-digit value Letter of Intent (LOI) for payment infrastructure solutions
• Order opens access to over 300 cooperative and regional rural banks nationwide
• Execution involves a nine-month intensive phase followed by five years of recurring revenue
• Solution will be built at a central level, offering high resale potential to other market competitors
• Implementation planned as a 'Bank-in-a-Box' model for rapid digital scaling

Global Expansion and AI-Driven Efficiency

NPST is aggressively scaling its international footprint, having signed the world's largest telecom provider for a multi-country rollout. Management identified international markets as a major lever, noting that per-transaction revenue in geographies like Sri Lanka can be up to 15 times higher than domestic rates. To manage this scale and improve margins, the company is investing in AI across all departments, targeting a 40% productivity improvement by March 2027.

New orders in RegTech for DPDP compliance and digital currency also signal diversification into futuristic payment domains.

Management on Strategic Transition

Our TSSP revenue, which contributed just about 15 to 20% of overall business two years back when we achieved our highest quarter, has substantially scaled to contribute about 80 to 85% in this quarter.

What to watch next

• Revenue contribution from the 300-bank LOI to begin in Q4 FY27 following initial execution
• Operational rollout of the Sri Lankan telecom project expected during the March 2027 quarter
• Conclusion of active discussions for global acquisitions to secure new accounts by early 2027
• Regulatory updates regarding final UPI MDR implementation timelines after the festive season

“Today we are reaping benefit with a single largest order valued in 10 digits. This will help us build a solution at central level that no other company can do.”

“In international market, we have an advantage of this learning, which will help us with the transition from license to SaaS within two to three years.”

Network People Services Technologies · financial snapshot

Share price	₹1765.1
Market capitalisation	₹3,682.62 Cr
Revenue (annual)	₹194.90 Cr
Net profit (annual)	₹40.83 Cr
Revenue (latest quarter)	₹67.74 Cr+19.94% vs previous quarter
Net profit (latest quarter)	₹13.22 Cr+19.64% vs previous quarter
P/E (TTM)	90.19×Sector 47.01×
Promoter holding	60.48%0.00% QoQ
FII holding	0.32%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.