Magellanic Cloud’s Subsidiary Provigil Secures ₹25+ Cr Punjab & Sind Bank Order
Hyderabad, 24th March, 2026
Magellanic Cloud Limited announced that its wholly owned subsidiary, Provigil Surveillance Limited, has secured a significant purchase order from Punjab & Sind Bank for the deployment of an integrated e-surveillance system across its ATM and CRM network.
The project, valued at over ₹25 crore, involves the end-to-end implementation of AI-enabled surveillance solutions across approximately 930 ATM/CRM sites nationwide. The engagement will be executed under an OPEX model over a period of five years.
The scope of work includes installation, commissioning, and maintenance of advanced surveillance infrastructure, enabling real-time monitoring, intelligent threat detection, and improved operational efficiency across the bank’s distributed network.
Execution will be carried out over a five-year period, ensuring continuous system performance, lifecycle management, and service reliability aligned with the bank’s operational requirements.
Strategic Significance
This order marks a significant milestone in expanding Provigil’s presence within the Banking, Financial Services, and Insurance (BFSI) sector, reinforcing its capability to deliver large-scale, AI-driven surveillance deployments across critical financial infrastructure.
It further strengthens Magellanic Cloud’s positioning in the smart surveillance ecosystem, while enhancing order book visibility and supporting long-term, recurring revenue through the OPEX-based engagement model.
Commenting on the development, Mr. Joseph Sudheer Thumma, Global CEO & Managing Director, Magellanic Cloud Limited, said:
“This order from Punjab & Sind Bank underscores our growing strength in delivering AI-led surveillance solutions at scale within the BFSI sector. As financial institutions increasingly prioritize intelligent monitoring and operational resilience, we remain focused on enabling secure, scalable, and technology-driven infrastructure across distributed banking networks.”
About Magellanic Cloud Limited
Magellanic Cloud Limited is a technology-led enterprise delivering AI-enabled surveillance, cloud, cybersecurity, and digital transformation solutions across critical infrastructure sectors. Through its wholly owned subsidiary Provigil Surveillance Limited, the Company executes large-scale smart surveillance deployments across banking networks, public sector undertakings, transportation systems, and other mission-critical environments across India.
