PROTEAN Q3 FY26 Guidance vs Delivery (PROTEAN Management Mirror)

Revenue Outlook & Growth Targets

Run Rate Guidance (Reaffirmed): In the Dec'25 Qtr, management expects the current quarterly revenue run rate of 220-250 crore to persist for the next two quarters. This aligns with prior qualitative expectations of "healthy growth" stated in Jun'25 Qtr.

New Business Contribution (Reaffirmed): Consistently across all three quarters, management has targeted new businesses (Data Stack, ODE, etc.) to contribute ~25% of total revenue within the next 2-3 years. In Jun'25 Qtr, this range was slightly wider at "25% to 30%."

Core Business Growth (Reaffirmed): The expectation for existing/core businesses (Tax, PAN, Identity) to grow at 8-10% annually has remained steady since the Sep'25 Qtr.

Aadhaar Seva Kendra (ASK) Impact (Modified):

*Dec'25 Qtr:* Anticipates a 40-50 crore addition to the quarterly run rate (totaling ~270-280 crore/quarter) once fully operational (190 centers) after two quarters.

*Sep'25 Qtr:* Originally guided for annual recurring revenue of 200 crore from ASK, with commissioning starting in Q3FY26.