1. Purple Fabric revenue ramp - Purple Fabric is guided at ₹200 cr revenue for FY26, with 45+ clients live and a ₹1,000-5,000 cr TAM. Investment step-up is done - no incremental spend in Q1 FY27 - so revenue now drops through at 3-3.25% EBITDA margin benefit.
2. Credit union cross-sell in Canada - 37 Canadian financial institutions signed for eMACH.ai DEP, covering 262,000 members and $11.7 bn CAD in assets; six more credit unions adopted in Q1 FY27. DEP is the beachhead - the same 170+ credit unions are targets for lending and core banking, which management expects to cross-sell.
3. Central 1 acquisition payback - The Central 1 deal brought 170+ credit unions onto Intellect's platform, with 35 already signed to migrate from Forge to eMACH.ai DEP. The business is already at single-digit margins after being expected margin-dilutive, and management expects margins to increase.
4. Wholesale banking ecosystem expansion - Wholesale Banking is a ₹1,500 cr+ revenue business, and management is pushing it from transaction banking into a full ecosystem play. A UK-based global bank signed a multi-year, multi-million dollar deal to expand into India, Hong Kong and Singapore, and a Sharjah-based bank signed for full front-to-back modernisation.
5. Mainframe-to-cloud migration - eMACH.ai went live in Hungary and Bulgaria with an 18-month delivery cycle, and Intellect is in advanced talks with a global mainframe infrastructure leader. Core banking migration is called the biggest growth space, and Intellect already won one migration deal using eMACH.ai.
6. AI platform pricing uplift - AI platform deals are currently priced at $0.25-0.5 mn each, with management targeting $3-5 mn per deal. The order book is over $50 mn, and management expects \~30 customers to buy the platform in the next two years.
7. Islamic Banking launch - eMACH.ai Islamic Banking launched 15 Apr 2026, an AAOIFI-compliant platform with 6-9 month implementation time. A leading Malaysian Islamic bank and the world's leading Islamic bank in Dubai have already selected eMACH.ai modules.
8. Fintel JV for UK wealth - The 50:50 JV with Fintel was incorporated as Project Purple Ventures Limited on 4 Aug 2026, combining Intellect's Agentic AI platform with Fintel's UK wealth distribution reach. The JV aims to be the UK market leader in AI-led financial advisory.
9. Direct to Corporate build-out - IDTC launched with three products (iGPX, iCPX, iAPX) built in under 12 months, with \~₹40 cr annual investment. OnCost, Kuwait's leading FMCG retailer, deployed eMACH.ai Retail 6DX across branches, and Purple Fabric is already used for non-banking clients via this unit.