Aurionpro Q2 Earnings: ‘We are now beginning to see the market validate our strategy,’ CEO says

Ashish Rai said banking deal velocity is increasing as Aurionpro expands its AI-native software portfolio, targets full-stack AI data centres and deepens manufacturing capabilities.

Aurionpro Solutions is beginning to see its product and technology investments translate into commercial momentum across AI-native banking, data centres and smart mobility, Group CEO Ashish Rai said, as the company reports its highest-ever quarterly revenue in Q2 FY27.

For the quarter ended September 30, Aurionpro reports revenue of ₹415 crore, growing 16 percent both sequentially and year-over-year. The company enters the second half of FY27 with an order book of approximately ₹2,050 crore.

“After a measured start to the year, the tide is turning on multiple fronts,” Rai said. “Once-in-a-generation market shifts demand a disproportionate commitment to product investment. Having embraced that conviction early, we are now beginning to see the market validate our strategy.”

Rai said healthy demand across Aurionpro’s core businesses and an expanding pipeline position the company for stronger growth, as investments made across banking technology, data centres and mobility begin translating into customer activity.

In banking, Rai said financial institutions are moving from legacy, process-centric systems towards agentic, AI-native architectures.

The transition, combined with regional geopolitical uncertainties, temporarily lengthened decision cycles as banks reassessed their long-term technology roadmaps. Rai, however, said implementations are now largely back on track and the near-term drag from those disruptions is behind the company.

Aurionpro is seeing increased customer interest around its AI-native banking stack, with several engagements reaching advanced stages and multiple proofs of concept underway across Asia and Europe.

“Deal velocity is noticeably up, with several engagements at advanced stages and multiple Proofs of Concept underway across Asia and Europe, led by our agentic AI solutions and AI-native Trade Finance offerings,” Rai said.

He adds that Aurionpro plans to roll out new AI-native software every quarter this year.

During Q2, Ujjivan Small Finance Bank selects Aurionpro’s iCashpro+ Transaction Banking Platform under a six-year enterprise licence covering corporate internet and mobile banking, virtual accounts, API banking, host-to-host connectivity, payments and collections.

The company also completes transaction banking go-lives across Asia, including Bank of Ceylon, and renews its Murex application support contract with State Bank of India.

AI-ready data centre orders approach ₹300 crore

Data centres are emerging as another major growth area for Aurionpro as demand for AI infrastructure drives requirements for high-density computing environments.

Cumulative orders from a leading global hyperscaler for an AI-ready data centre project in Navi Mumbai reach close to ₹300 crore during the quarter.

“In Data Centres, as the AI wave drives unprecedented demand for high-density compute infrastructure, we are strengthening our market position through new engagements with leading hyperscalers,” Rai said. “Our focus is squarely on building the pre-eminent, independent, full-stack AI data centre partner.”

Aurionpro also launches a dedicated data centre infrastructure facility in Bhiwandi, Mumbai, to support warehousing, equipment storage, fabrication and assembly for its data centre projects.

The company also secures a new data centre order in Uganda, expanding its portfolio of projects in Africa.

‘Bits to atoms’ drives deeper manufacturing push

Rai describes Aurionpro’s strategy across data centres and transit payments as a “bits to atoms” approach, combining intelligent software with physical infrastructure and engineered systems.

The company is increasing backward integration across software, engineering and manufacturing as it looks to control more of the technology stack.

Aurionpro already uses its manufacturing capabilities to support mobility deployments and is now expanding advanced manufacturing to produce critical infrastructure components for next-generation data centres and mass transit systems.

Rai said owning more of the value chain, from physical hardware to software, gives Aurionpro greater control over quality, deployment timelines and unit economics.

The company expects this approach to support stronger operating and margin efficiencies as the business scales.

Aurionpro takes transit capabilities global

Aurionpro is also looking to take the technology capabilities built across India’s metro and mass-transit networks into international markets.

During the quarter, the company secures an additional order of approximately ₹50 crore from MMRDA to deploy its Automated Fare Collection solution across six stations on Mumbai Metro Line 5 Phase I. The mandate expands its existing work across Metro Lines 4 and 4A.

Aurionpro also expands its partnership with Mastercard to help North American transit agencies adopt contactless payments and integrated ticketing.

In Europe, Finland’s Matkahuolto selects Aurionpro as the device vendor for its contactless EMV project, while the company enters a strategic partnership to expand Account-Based Ticketing solutions in Australia.

Aurionpro also secures its first purchase order from GMR for its newly developed Security Check-In Kiosk for airports.

Meanwhile, IRCTC iPay goes live across all five identified IRCTC merchants, covering e-ticketing, air ticketing, tourism, the National Rail Museum and retiring rooms.

Aurionpro expects investment intensity to moderate

Aurionpro’s first-half margins reflect the planned front-loading of R&D investments as the company develops a new generation of offerings, including its AI-native onboarding platform Verdict, Infinity OS and enterprise solutions from Lexsi Labs.

Rai said Aurionpro will continue responding to market and technology shifts but expects the incremental intensity of these investments to moderate after peaking in the first half.

“We believe the incremental intensity of these investments peaked in H1 and will likely moderate going forward,” he said.

With an order book of approximately ₹2,050 crore and what Rai describes as improving execution velocity, Aurionpro enters H2 FY27 looking to translate investments across AI-native banking, AI-ready data centres, smart mobility and advanced manufacturing into further commercial growth.