Divya Agarwal
Hyderabad (Telangana) [India], September 2: Magellanic Cloud Limited (NSE: MCLOUD | BSE: 538891), has successfully completed the handover of 685 sites under Phase 1 of its Punjab & Sind Bank deployment by the second week of August 2026. The Company has completed and handed over approximately 74% of the total 930-site deployment scope within a short span of just 5 Months, demonstrating strong execution capabilities, operational efficiency, and the ability to deliver large-scale, distributed surveillance deployments at pace.
The milestone, completed by the second week of August 2026, demonstrates the Company’s ability to execute large-scale, geographically distributed e-surveillance deployments at speed and scale, while maintaining operational efficiency across a complex banking network.
Key Execution Milestones –
- 685 Sites Handed Over: Phase 1 deployment successfully completed, and 685 sites handed over to Punjab & Sind Bank.
- ~74% Completion: The 685 sites represent approximately 74% of the total 930-site deployment scope under the Purchase Order.
- Rapid Execution: The deployment progressed from the 19 March 2026 Purchase Order to the handover of 685 sites by the second week of August 2026, with nearly three-fourths of the overall scope completed within approximately five months.
Strengthening BFSI Execution Capabilities
The successful Phase 1 execution further strengthens Magellanic Cloud’s capabilities in BFSI-focused e-surveillance solutions.
The BFSI sector is rapidly moving beyond conventional surveillance towards intelligent, connected and data-driven security ecosystems. Group’s technology portfolio is positioned to address this evolution through capabilities spanning e-surveillance, AI, cloud computing, analytics and digital infrastructure.
The scale and speed of the deployment demonstrate the Company’s ability to coordinate and implement e-surveillance infrastructure across a large, distributed banking network. With the engagement also covering operations and maintenance support, Magellanic Cloud will continue to support the e-surveillance infrastructure deployed across Punjab & Sind Bank’s network.
The milestone reinforces the Company’s growing capabilities in delivering technology-led & AI-powered e-surveillance solutions for BFSI and other critical infrastructure environments.
Commenting on the successful completion and handover of Phase 1, Mr. Joseph Sudheer Reddy Thumma, Global CEO & Managing Director, Magellanic Cloud Limited, said: “The successful handover of 685 sites for Punjab & Sind Bank within five months is a strong testament to Magellanic Cloud’s execution capabilities and our ability to deliver technology infrastructure at scale.
What makes this engagement strategically significant is the larger opportunity it represents. The future of institutional security is moving towards intelligent, connected and increasingly AI-enabled infrastructure. Our capabilities across e-surveillance, AI, cloud and emerging technologies position us well to participate in this transformation.
We are focused on building solutions that go beyond traditional surveillance – enabling institutions to create more connected, responsive and technology-driven security ecosystems. The Punjab & Sind Bank deployment is another important step in strengthening our presence in the BFSI and critical infrastructure landscape.”
About Magellanic Cloud Limited
Magellanic Cloud Limited (BSE: 538891 | NSE: MCLOUD), headquartered in Hyderabad, India, is a global technology company specialising in digital transformation, Generative Artificial Intelligence (AI), cloud computing, e-surveillance, and drone technologies. The company delivers advanced solutions across industries, including smart infrastructure, defence, fintech, and enterprise IT, serving over 100 clients across the USA, Europe, and Asia.
With a strong ecosystem of subsidiaries – Motivity Labs, Provigil Surveillance Limited, IVIS International, Scandron, MCRAY XTEND India, Finoux and JNIT Technologies – Magellanic Cloud offers integrated capabilities across IT services and AI-driven surveillance systems. Its solutions are widely deployed in critical infrastructure projects, including railways, highways, BFSI, PSUs and urban security systems.
The company is backed by a team of over 1,600 professionals and has achieved CMMI Maturity Level 3 certification.
