Intellect Design Arena, the company’s market cap has crossed $ 1 billion. They have also launched this ‘Magic Aadhaar’ which helps identify, extract, validate and mask Aadhaar details. So it helps raise the privacy norms while giving a lot of details as well.

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Speaking with CNBC-TV18, Arun Jain, CMD of Intellect Design Arena on Thursday said, “Magic Aadhaar is built on our proprietary data operating system where we are able to build a huge case which is able to extract information from any document not necessary Aadhaar card but anywhere the number is present our system is able to recognise based on very deep relationship modelling algorithms and this will help in risk and compliance.”

He further added, “This opportunity can be running into, I would say Rs 100 crore equal and potential only in India and it is on-going kind of an agenda. We have a got good reception from many large and public sector banks.”

On growth, Jain said, “Fourth quarter is looking as good as the third quarter, hopefully, we should be in line with the expectations of the industry. Our guidance is to design the business for double-digit growth and EPS growth of 30 percent and that is what we are sustaining it. We want to be cautious as well as optimistic and now the focus has to be on very sustained delivery.”

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(Edited by : Ajay Vaishnav)