Magellanic Cloud Secures ₹10 Crore Indian Bank Order, Strengthens BFSI Surveillance Leadership
Hyderabad, 25th March, 2026
Magellanic Cloud Limited announced that its wholly owned subsidiary, Provigil Surveillance Limited, has secured a purchase order from Indian Bank for the deployment of centrally monitored electronic surveillance systems across its branch network.
The project, valued at approximately ₹10 crore, involves the deployment of advanced AI-powered surveillance solutions across multiple bank branches under an OPEX model.
The scope of work includes supply, installation, commissioning, and maintenance of comprehensive surveillance infrastructure, enabling real-time monitoring, enhanced visibility, and improved security management across the banking network.
The engagement will be executed over a period of three years, ensuring continuous system performance, centralized monitoring, and operational reliability.
Strategic Significance
This order further strengthens Provigil’s footprint in the Banking, Financial Services, and Insurance (BFSI) sector, reinforcing its capability to deliver scalable, AI-driven surveillance solutions across distributed financial infrastructure.
It also enhances Magellanic Cloud’s position in the smart surveillance ecosystem, while contributing to long-term, recurring revenue through the OPEX-based delivery model.
Management Commentary
Commenting on the development, Mr. Joseph Sudheer Reddy Thumma, Global CEO & Managing Director, Magellanic Cloud Limited, said:
“This order from Indian Bank reinforces our growing momentum in the BFSI sector and our ability to deliver intelligent, centrally managed surveillance solutions at scale. As financial institutions continue to prioritize security and operational visibility, we remain focused on enabling resilient, technology-driven monitoring ecosystems.”
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.
