Enser Communications is an AI-powered financial-technology services company that started as a traditional outsourcing firm in 2008 and has spent nearly two decades layering on cybersecurity, software, and artificial intelligence to become a revenue partner for banks and insurers. Founded by two first-generation entrepreneurs with deep experience in IT ventures, the company listed on the NSE Emerge platform in March 2024 after a strategic pivot that repositioned it from a back-office provider into a business that earns a percentage of the premium it helps clients generate. The recurring approach is to embed itself so deeply in a client’s customer-acquisition and servicing workflows-using a blend of AI tools and human judgment-that switching becomes difficult, then to broaden the relationship by selling adjacent services into the same account. # Business segments Four engines at different stages-a BFSI-focused outsourcing and customer-acquisition core, a cybersecurity and IT infrastructure subsidiary, a pair of communication-software platforms, and a small resale business in digital displays-each built by deepening relationships with the same blue-chip client base. ## 1. AI-powered BPM and customer lifecycle management: the revenue engine that earns a cut of what it sells **Enser runs the end-to-end customer journey for banks and insurers-acquiring clients, collecting premiums, and handling service-and gets paid a percentage of the premium generated, so its incentives are tied directly to client revenue.** - **Earns a share of the premium, not a fixed fee** - for BFSI clients, the revenue model is based on a percentage of the premium generated, which aligns Enser’s interests with the client’s business performance rather than just seat-count or hours logged. - **Human-in-the-loop keeps AI safe and sticky** - no AI decision is final without human review at critical points, and complex edge cases escalate instantly to a person; this “institutionalised expertise” across BFSI workflows is hard for a pure technology vendor to replicate and creates high switching costs once Enser is woven into a client’s onboarding and acquisition processes. - **One client, many services** - the company layers customer acquisition, payment reminders, collections, CRM integration, chatbots, and quality monitoring on top of the core outsourcing relationship; roughly 80% of revenue still comes from traditional BPM work, while the remaining 20% comes from newer lines like CRM integration, chatbots, and cybersecurity, and about 30% of the business is being shifted toward AI and AI tools. - **Dedicated teams per customer, ready infrastructure** - each large client (such as Hero, Paytm, or ACKO) has a dedicated manager and operations team, and the company says its infrastructure is already built out, so growth does not require finding new facilities or technology. - **Deepening before hunting** - the company focuses on selling more services to existing clients before chasing new ones, because it is easier to make additional sales to a customer who already trusts the operation; some relationships have lasted over a decade. ## 2. Cybersecurity and IT infrastructure: the compliance tailwind subsidiary **Growintelli Technologies, a wholly owned subsidiary acquired in early 2025, sells data-security consulting, secure infrastructure design, and hardware services to over 300 clients, with demand pulled by India’s new data-protection law.** - **Bought, not just built** - Growintelli was acquired in February 2025 and its founder joined Enser as Chief Information Security Officer, bringing an existing book of over 300 clients including a Dubai government department, dfCUBANK, and the Uganda Registration Services Bureau. - **Regulation creates the need** - the DPDP Act makes data security mandatory for large companies and carries high fines for non-compliance, which drives demand for the kind of IT consulting, firewall deployment, and endpoint protection that Growintelli provides. - **Asset-light data-centre play** - rather than building its own data centres, Enser uses partnerships and domain expertise to design, operate, and maintain them, starting with a pilot that sells third-party data-centre products. - **From support line to growth engine** - the stated roadmap is to scale cybersecurity from a supporting service into a standalone growth vertical, targeting financial services, healthcare, and technology sectors, with geographic expansion into Gulf and South Asian countries. ## 3. Communication and software solutions: the in-house tech backbone that also sells outside **Through 51% stakes in Teckinfo Solutions and IVRedge, Enser owns the contact-centre software and cloud-telephony platforms that power its own BPM operations-and sells them to external customers like Tech Mahindra and JustDial.** - **A 15-year vendor brought in-house** - Teckinfo had been a supplier to Enser for about 15 years before the acquisition in March 2025; its team is now building the platform for Enser’s AI bot, and its 25-year-old contact-centre software is used by clients such as Dr Lal PathLabs, Suzuki, and HDB Financial Services. - **The licence-holding sibling** - IVRedge primarily exists to hold telecom licences and government regulatory approvals; it is not expected to become a large revenue story on its own, but it provides the legal infrastructure for cloud-based telephony and IP PBX solutions. - **One organisation on the horizon** - management has indicated it may eventually merge these subsidiaries into a single entity rather than running three separate companies, which would simplify the structure. ## 4. Digital signage and smart boards: a resale business with a government-entry ticket **Enser buys interactive flat panels, video walls, and professional displays from manufacturers and resells them as a branded service provider, using its registration on the Government e-Marketplace to win public-sector classroom and institutional orders.** - **Reseller with a service wrapper** - the company buys hardware from OEMs like Vestel, under a distribution agreement for India, and sells it while positioning itself as a brand that provides service levels, which makes government and private buyers more comfortable than buying from an unknown reseller. - **GeM registration opens the door** - Enser is registered on the Government e-Marketplace platform and participates in tenders; it has already completed government orders for interactive display panels used in smart classrooms, featuring multi-touch and cloud integration. - **Small today, a bet for tomorrow** - the segment is currently a very small part of the business but is seen as a future sizable chunk; the market is fragmented, with no single large company, mostly resellers buying from OEMs and selling onward. # Group structure and partners **Enser operates through a web of majority-owned subsidiaries and integrated acquisitions that extend its reach from BPM into software, security, agritech, and training, while a Dubai entity and a Philippines plan signal international ambition.** - The company has four direct subsidiaries: Growintelli Technologies (100%), Teckinfo Solutions (51%), IVRedge Services (51%), and Enser Communications Services ME-FZCO, a wholly owned Dubai entity incorporated in January 2025 that has yet to commence operations. - It also holds a 75% stake in Farmkeen Agritech, a digital platform aiming to connect government, agri-tech companies, and farmers on a fee-per-client, per-state model, with a target of building a database of 2-3 million farmers within about a year. - A 70% stake in Indus Management Consultants adds corporate training and executive education, with clients including Mercedes-Benz, Indian Oil, and Delhi Metro. - In mid-2024, Enser acquired the business, clients, and workforce-but not the legal entities or liabilities-of two Jaipur-based outsourcing firms, Vkalp and Solnix, consolidating them into a new 600-seat facility and adding e-commerce and quick-service restaurant delivery verticals. - International expansion is underway through a strategic partnership with Dubai-based Global Arc LLC for call-centre and client-acquisition services in the UAE, with a plan to start operations in the Philippines in FY 2026-27.