Virtual Galaxy Infotech Limited, a listed technology solutions provider, has announced the receipt of a significant domestic purchase order valued at ₹5.30 crore from Mizoram Cooperative Apex Bank Ltd. The disclosure was made to the National Stock Exchange of India Limited (NSE) on December 22, 2025, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Overview of the Purchase Order

The company has received a Purchase Order dated December 19, 2025, from Mizoram Cooperative Apex Bank Ltd for the implementation of a UPI 2.0 Switch solution. The scope of the project includes both financial and non-financial transactions, with unlimited transaction capability, making it a comprehensive digital payments infrastructure contract.

The total project cost is ₹5.30 crore, excluding applicable taxes.

Key Project Details

The project awarded to Virtual Galaxy Infotech Limited includes the following major elements:

• Deployment of UPI 2.0 Switch infrastructure

• Support for financial transactions, including fund transfers

• Enablement of non-financial transactions

• Unlimited transaction handling capability

• Long-term engagement through a five-year agreement

This project positions the company as a key technology partner in strengthening digital payment capabilities within the cooperative banking sector.

Contract Duration and Pricing Structure

The agreement with Mizoram Cooperative Apex Bank Ltd is structured for a period of five years from the date of signing.

The pricing model has been clearly defined as follows:

• ₹1.00 crore per annum for the first three years

• For the remaining two years, pricing will be subject to a 10% annual increment on the fixed payment

This structured pricing mechanism ensures predictable revenue visibility over the contract tenure.

Nature and Classification of the Order

The order is classified as a domestic purchase order and does not fall under related party transactions. The company has explicitly confirmed that:

• Promoters or promoter group entities have no interest in Mizoram Cooperative Apex Bank Ltd

• The transaction does not qualify as a related party transaction

• The order has been awarded on an arm’s length basis

Strategic Importance of UPI 2.0 Implementation

UPI 2.0 represents an advanced iteration of India’s real-time digital payments framework, enabling:

• Enhanced transaction security

• Improved scalability

• Support for advanced banking use cases

By securing this order, Virtual Galaxy Infotech Limited reinforces its capabilities in delivering mission-critical banking and payment infrastructure solutions.

Regulatory Disclosure and Compliance

The company has complied with disclosure requirements under:

• Regulation 30 of SEBI LODR Regulations, 2015

• SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

An Annexure detailing all prescribed information—including project value, tenure, pricing structure, and related party confirmations—was submitted along with the stock exchange intimation.

Corporate and Market Context

Virtual Galaxy Infotech Limited is listed on the National Stock Exchange of India under the symbol VGINFOTECH, with ISIN INE0VRH01015. The company operates in the technology and digital infrastructure domain, providing solutions aligned with India’s expanding digital banking ecosystem.

The receipt of this order reflects continued demand from financial institutions for reliable, scalable, and compliant digital transaction platforms.

Impact on Business Outlook

The ₹5.30 crore contract provides:

• Long-term revenue visibility over five years

• Strengthened presence in the cooperative banking segment

• Expansion of recurring income through annual payments

• Enhanced credentials in UPI and payments technology deployments

Such long-duration contracts typically contribute to operational stability and reinforce client trust.

Execution Timeline

The agreement remains valid for five years from the date of signing, with the company responsible for implementation, operations, and support during the entire contract period.

Conclusion

The receipt of a ₹5.30 crore UPI 2.0 Switch implementation order from Mizoram Cooperative Apex Bank Ltd marks a notable development for Virtual Galaxy Infotech Limited. The order underscores the company’s growing footprint in digital banking infrastructure and its ability to deliver large-scale, long-term payment technology solutions.

With defined pricing, long-term engagement, and compliance with all regulatory disclosure norms, the contract strengthens Virtual Galaxy Infotech Limited’s order book and positions it favorably within India’s evolving digital payments landscape.

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