1. NOC/SOC managed security - \~25 customers are onboarded to the NOC/SOC, with a target of \~100 under typically 3-year recurring contracts, expected to contribute \~15% of overall revenue in 3 years. That would roughly triple the current revenue contribution of this annuity stream, with multi-year contracts providing visibility.
2. Agentic AI practice - \~8 customers are billable and live on agentic AI solutions, with 5 more in production, and AI revenue is currently \~3-4% of overall revenue. The SAP Joule, SS&C Blue Prism, and Google Vertex AI alliances give this practice a route to scale beyond the current base.
3. Order book replenishment - New orders of ₹45 crore were secured, taking the order book to \~₹92 crore as of June 2026, with execution due by September. That order book is roughly 45% of the last reported annual revenue of ₹292 crore, and the ₹18.5 crore Intelligent Workspace Solutions slice shows demand from large BFSI and GCC clients.
4. International subsidiaries - Subsidiaries in Singapore, Denmark, US, and Mauritius are six months old, with business licenses, bank accounts, and customer-facing representatives in place; engagements are expected in H2, with cash flows from next financial year. These entities open new geographies - North America, Nordics, Southeast Asia - beyond the current India-centric revenue base.
5. Manpower services partnership - A soft arrangement with a technology manpower services company is expected to add 200-250 people and USD 5-6 million in additional revenue. That is roughly ₹40-50 crore against the last reported annual revenue of ₹292 crore, a \~15% uplift from one agreement.
6. Main board listing plan - Management targets a main board listing in 18-24 months once revenue reaches ₹250 crore, with a 2030 outlook of \~₹500 crore at 20% growth or \~₹700-750 crore with international expansion and M&A. A main board listing would broaden the investor base and re-rate the stock from its current ₹123 crore market cap.
7. Cisco partnership expansion - ROX is now a Cisco Preferred Networking Partner and Preferred Security Partner, Cisco's highest designation, with a Splunk practice being set up for enterprise cybersecurity monitoring. This builds on the NOC/SOC annuity base and adds a higher-margin security software layer to the managed services offering.
8. IBM partnership expansion - The IBM partnership now spans PowerVS cloud and Watsonx platform, expanded into North America and Europe, with a Center of Excellence of 80 professionals and 10,000 sq ft. This extends the highest-tier IBM relationship beyond India into new markets where the subsidiaries are now active.
9. Drone security - Shavit Group - A definitive agreement with Israel-based Shavit Group for enterprise/VVIP drone security is signed, with a center of excellence expected by September. This is a new security vertical with no current revenue, but it leverages the NOC/SOC client base and the Israel vendor relationships being explored.