Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.
BLS INTERNATIONAL LTD (NSE: BLS) Q4 2026 Earnings Call dated May. 20, 2026
Corporate Participants:
Shikhar Agarwal — Joint Managing Director
Amit Sudhakar — CFO
Mr. Gaurav Chugh — Investor Relations
Analysts:
Mehul Panjwani — Analyst
Stolen key — Analyst
Unidentified Participant
Shikha Mehta — Analyst
Shreya Kejriwal — Analyst
Varun Subramanian — Analyst
Viren Sameer Deshpandi — Analyst
Presentation:
Shikhar Agarwal — Joint Managing Director
Our visa and counselor business continues to witness strong traction for the quarter as well as for the full year. The business continues to witness strong profitability with FY26 EBITDA growing by an impressive 30% year on year and EBITDA margins grew to 40% from 34% in FY25. This growth highlights BLS strong execution capabilities, operational efficiencies and the positive impact of successful transition of our business model from partner run to self managed model. BLS International has processed more than 44.1 lakh applications during the year which grew from 37.5 lakh applications.
Net revenue per application also witnessed a growth of 14% to rupees 3302 per application as compared to 2903 per application. International has also taken several strides in terms of technology enhancement. During the quarter the company partnered with a body to offer trade and document attestation services across 17 centers. We also partnered with CIFA AI to modernize, modernize Visa and Council of Business through AI powered solutions. We also introduced AI voice bots for related issues etc. Our digital business also continued significant momentum crossing thousand crores in revenues.
Revenue from digital business more than doubled to 1200 crores resisting a remarkable year on year growth of 100%. This is primarily on the count of the BC business including loan distribution along with increased scale in assisted digital and service offerings. The company’s asset light and scalable operating model remain a key enabler of growth. Supported by a network of 150,000 touch points with around 45,000 channel partners. The BC business is witnessing significant transaction with GTV at more than 1.1 lakh crores during the year compared to 87,000 crores in FY25.
The company also witnessed strong traction due to generation acquisition of artificial the company generated leads worth around 36,000 crores during the year. We are continuing sending our technology by enhancing and leveraging AI, advanced analytics and cloud performance. While the company is consistently growing, it has also followed the policy of rewarding its shareholders throughout the years by way of dividends. In line with this, the board has recommended a final dividend of 50% of face value that is 0.5 per equity share in addition to the interim dividend of 2 per equity share.
This leads to 250% of dividend of face value of more than 100 crores for the entire year. Before I conclude, I would also like to address the impact of travel industry due to the ongoing geopolitical situation. What we are with witnessing today is a temporary scenario but a shift in which people to travel due to the ongoing tension in Middle east revenue is intact at the same time. Thank you so much. I would now like to hand over the call to CFO Amitrad.
Amit Sudhakar — CFO
Thank you. Good evening everyone. I am pleased to share the consolidated audited financials highlights for the quarter. Fourth quarter and full year ended 31st March 2026. Revenue for FY26 increased 2,998 crore as compared to 2,193 crore last year up by 37%. Y o y this growth is on account of increased momentum and in both our businesses. FY26 EBITDA rose by rupees 819 crore from 629 crores in FY25 registering a growth of 30%. EBITDA margin stood at 27.3% for FY26. Profit after tax for the full year was 724 crore compared to 540 crore last year showing a 34% increase.
Now looking at the Q4FY26 consolidated performance for Q4FY26 we recorded a strong growth of 18% year on year in consolidated revenue. They increased to rupees 815 crore in Q4FY20 from rupees 6. 9 in Q4FY25. The growth was driven by steady growth in both in visa and digital businesses. EBITDA for the quarter increased by 17% year on year to Rs. 204 crore as compared to rupees 174 crore in the same quarter last year. Profit after tax increased by 29% to rupees 187 crore compared to rupees 145 crore in Q4FY25.
Coming to segment highlights in FY26, visa and consular services grew by 11% to rupees18.40 crores compared to rupees16.53 crore. In FY25, EBITDA for the segment rose sharply by 30% to rupees 738 crores with the margin improving to 40% from 34% last year. Reflecting our focus on efficiency and profitability in Q4FY26, the visa consular services segment recorded a revenue of rupees 472 crore or 7% growth over 441 crore last year. The growth in revenue was mainly driven by the increase in visa application volume which grew by 10% year on year to rupees to sorry to application to 10.8 lakhs application in Q4FY26 from 9.8 lakh application in Q4FY25, EBITDA for the segment rose by 19% to rupees 180 crore with a margin of 38%.
An improvement of 400 basis points from 34% margin last year. In FY26, the digital segment revenue was doubled to rupees 1158 crores compared to rupees 440 crore in FY25. The EBITDA for FY26 was 81 crore compared to rupees 60 crore in the previous financial year. In Q4FY26, the revenue increased to rupees 343 crores in Q4FY26 up from rupees 252 crore. In Q4FY25, Ebitda for the quarter was at 24 crore. The company continued to maintain a strong cash flow and a healthy balance sheet. During the year the business generated a cash of over 900 crores.
As on 31st March 26th, the company maintained a strong net cash balance of Rupees 1434 crore. With that I will now hand over to the moderator to open the floor for questioning. Thank you.
Operator
Thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question may press star and then one on their touchtone phone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. Your first question comes from the line of mehul Panjwani with 40 cents. Please go ahead.
Questions and Answers:
Mehul Panjwani
Hello sir. Am I audible?
Operator
Yes sir, you’re audible. Please go ahead.
Mehul Panjwani
Okay sir. Congratulations on a great set of numbers. So I have one question about the current situation in West Asia. So because of this, have you seen any setbacks in the last quarter?
Shikhar Agarwal
See if you see our numbers, you know we have actually grown. Our EBITDA has grown in last quarter by more than on an annual basis. Our EBITDA has grown by 35%. And even if you see our EBITDA in the last quarter comparing to Q4 of last year has still grown by more than 30, 35%. So for us there has been no impact. As we have said before, you know, since the company has been operating from year 2007, 2008, there are multiple things, geopolitical things happening in the world from back then and you know, every year something or the other Happens so temporary.
Definitely some things get affected but on an annual or a quarterly basis everything get balanced. Today we are in 70 plus countries working with more than 40 client governments. So definitely you know some impact is there on a short term level. But on an ongoing or annual level everything gets balanced.
Mehul Panjwani
Right sir. So thanks for your clarification. But let’s say if this situation, if the war was wasn’t there then you would have reported better numbers
Shikhar Agarwal
In the last quarter. I don’t know exactly if we had reported any better numbers. I need to check. But definitely there could be some impact. Definitely. I don’t know. We have still grown a lot. If you see on an annual and quarterly basis. But I don’t know, maybe. Yeah, definitely some volume temporary that that happened could have come back to us.
Operator
Thank you. We take the next question from the line of Vansh Solanki with RSPN Ventures. Please go ahead.
Stolen key
Hi Sikhar. Am I audible?
Operator
Yes, you are.
Stolen key
Yeah. So also just on the war side. So you just told that the Q4 would be better if the war wasn’t there. So in Q1 is we. Are we seeing any impact of the war still? Because still the war is not, you know closed or it is not just all the negotiations are made. So maybe Q1 or maybe Q2 or so we can see the impact. So how you are seeing Q1 and full year FY27 on terms of volume growth, visa volume growth.
Shikhar Agarwal
It’s only you know, April, May right now. I cannot tell you exactly what will be the impact of the world. As of now we are going strong and we will continue to maintain our numbers from last year. Growth from last year. I don’t know exactly what will be the scenario in the future etc. But. But as of now things are steady.
Stolen key
Okay. And also the last from any quarters. Management has said that the many contracts of the government are pending for a renewal. So is there any visibility for them?
Shikhar Agarwal
We have also announced no that many results we have announced. We have one Slovakia, Cyprus, Indian government and last year we won a lot of tenders for Italy, Portugal, Poland. So all of them are part of that. We won a big UIDI 2500 crore tender last year. Still there are many more. My, my question
Stolen key
Is majorly the forward looking in the FY27 are we tracking any government which many
Shikhar Agarwal
Contract is being reused? It’s a constant, constant tender business. Many new governments are coming out with tenders. They’re actively bidding at different stages. Many governments are outsourcing for the first time. So definitely we Have a big potential for growth in terms of different tenders that are coming up for renewal.
Stolen key
Okay. And the second set of questions is about the UIDI work order which we have received. So how much revenue we have actually booked in the Q4 and how much for how much month? Like from the.
Shikhar Agarwal
It is only, only been one or two months since we have started the rollout. Right now only phase one in which we have to roll out 40, 50 offices. We have done. Eventually we have to roll out more than 200 offices. So I think it will take at least one year for the full revenue to start coming in. One, one, one, one, one and a half years for the ramp up and the full revenue start coming in.
Unidentified Participant
Okay, so is the revenue also coming
Operator
Once? Maybe. Request you return to the queue for any follow up questions please as several participants are waiting for their turn. Thank you, sir. We take our next question from the line of Shikha Mehta with time and tight advisors. Please go ahead. Shikha Ma’, Am, your line is unmuted. Please proceed with your question.
Shikha Mehta
Hello, Am I audible?
Operator
Yes ma’, am, you’re audible now please go ahead.
Shikha Mehta
Yeah, I just had a few questions. One, of course I wanted to understand the situation on the war, the geopolitical situation in the sense I’d assume March for us would be close to a washout because I don’t think a lot of travel was happening. But maybe this quarter could see slightly better movement. So would want some guidance on that from a visa point of view. And secondly, seeing our visa and consular business for Q4 and for the whole whole year, the number of applications, I.e. The volume has grown at a much faster pace than the, than the actual revenue from operations.
So can you help me understand that a bit as well? Because from what I can see in your presentation, the net revenue per application has also increased at a very fast pace. So where is this, you know, what is the gap between. Between. Between both.
Shikhar Agarwal
Yeah. So on your first question, I can take that. See, we have already answered the question of geopolitical situation. It’s not in our control. Still, if you see in the last quarter, March was not a washout for us. We have grown, you know, from the, from similar quarter last year. So we’ve had a major growth of more than 30%. So definitely, you know, as someone asked, it could have been further growth. You know, we had also one new tender that you’ve deployed because of also which the volume has grown.
So I think that is situation and this quarter we’ll see, we’ll get to Know once the quarter ends. But we are, we are going strong. Obviously you know there is some impact because they are not fully back, you know, numbers. But still we are growing from last same quarter last year.
Shikha Mehta
Q1 is usually our strongest quarter of the year. So.
Shikhar Agarwal
Yeah, so I’ve said no, that, that definitely, you know, we are going steady.
Shikha Mehta
Okay. Hello.
Shikhar Agarwal
Yeah,
Shikha Mehta
Yeah. And on the second question of the volume as in the number of applications versus the revenue. Yeah.
Shikhar Agarwal
So number of applications have gone because also you know, we have won some contracts, you’ve deployed them, Cyprus, Luaki, etc. Some volume started to come in. So definitely volume has grown up and net revenue, maybe Amit can explain that it has gone up. Right?
Amit Sudhakar
Yeah, yeah. The net revenue improvement is account of mainly two reasons. One, the value added services per application goes up. The net revenue per application increase as well as the new contracts that we have won at a better pricing that also have an impact on the net revenue improvement.
Shikha Mehta
But sir, if that is the case, how has our number of applications for the year increased by 10% and our revenue from operations just increased by 7% for Q4.
Amit Sudhakar
That’s what I said that as your numbers, if there is a value added services in the quarter has gone lower then the per application revenue will come down.
Shikha Mehta
But sir, per application we’ve still shown.
Mr. Gaurav Chugh
So Shikha, let me just explain. Shikha, what’s happening is that there is a factor of value added services conversion. So if you look at the conversion, if you look at our net revenue, net revenue has grown by 20% whereas our application count has grown by 10%. This is for the quarter. So this ultimately translates that the conversion in the valuable services and our share of. Our share of valuable services has gone up though it is not being reflected in the revenue but it is reflected in the net revenue as well as our ebitda.
So our EBITDA margins and absolute EBITDA is going up. So there is a revenue sharing between the third party vendors from you know, we take some certain services. So the true picture is that you should take net revenue growth which is at 20% whereas application count growth is around 10%.
Amit Sudhakar
Or we can take it offline. If you have you want further details, we can share that.
Operator
Thank you. The next question comes from the line of DIA with Sapphire Capital. Please go ahead.
Unidentified Participant
Thank you for taking my question. So you said that March has been quite good for you. Can you describe how the month of April has been for us?
Shikhar Agarwal
We cannot give any forward looking statements but we have explained in the previous question also that we are going steady.
Unidentified Participant
So you’re seeing demand picking up.
Shikhar Agarwal
Yeah, definitely. But if you see fourth quarter also we have grown by more than 50% compared to same quarter last year. So yeah. So for us we are, you know, we are a global company now. We are operating in 70 plus countries. Definitely. For us, if demand goes down from somewhere, sometimes it picks up from somewhere else. We are going steady.
Unidentified Participant
Okay sir. And any guidance on how our FY27 revenue number is going to look like?
Shikhar Agarwal
I think this year also we said that we will grow by 2025%. You know on an increase base last year we’ve been seeing and but I think growth was much larger than that. We grew at 34% on EBITDA level. So I think this our target is an increased base to grow the company at 2025%. So that is what our, you know, our internal targets are.
Unidentified Participant
Okay sir, thank you. And all the best.
Operator
Thank you. The next question comes from the line of Shreya Kejriwal with MoneyVesta Capital Private Limited. Please go ahead.
Shreya Kejriwal
So congratulations sir on the results. So my question was regarding the net cash balance. It’s like it’s around 1400 crores. So what are your key capital allocation priorities going forward? And my second question also regarding can you share the split between the organic and inorganic contribution to the overall revenue growth in this quarter?
Shikhar Agarwal
Amit, you can answer please. Thank you.
Amit Sudhakar
So as for the organic inorganic, technically in the current year we have not done any new major acquisitions. So the numbers are very, I would say previous year and current year could be looked at on a same basis. Except RD fiddlest which has contributed about, I would say in the overall around 25% of the revenue which has come from Adifid list. Otherwise all the other numbers are comparable compared to the last year.
Shreya Kejriwal
And sir, regarding the first question, like regarding the net cash balance, what are your key priorities regarding capital?
Amit Sudhakar
So I think we have announced one acquisition which is in the pipeline and we are working on few more. As and when they get crystallized we will be using fund for that. And as Shikhar said, we are bidding for some contracts currently. And if they come, we will be deploying and opening those new projects which can come in. So major utilization of the cash will be for the expansion of the existing business as well as for inorganic growth which we plan to do.
Shreya Kejriwal
Okay sir, thank you so much.
Amit Sudhakar
Thank you.
Operator
Thank you. The next question comes from the line of Valuequest. Please go ahead.
Unidentified Participant
Yeah, hi K. You’re here. Am I audible?
Amit Sudhakar
Yes, you can hear.
Unidentified Participant
Yeah, hi. No firstly, congratulations on good set of numbers. I had a couple of questions. In the previous answer, Amit, you mentioned that you are working on a few acquisitions and there was also an interview where Shikhar had mentioned about allocating about 2000 crores towards acquisition over the next 4, 5 years. Could we get some more color? In what segment are we looking? Will this be more on the digital side or in our core visa and consular services business? That’s question one and I’ll follow up with the other question.
Amit Sudhakar
Sure. So see this plan which we have, we are looking at businesses in both the segments but what happens that sometime you are working on couple of them, some get crystallized and some get finalized much earlier than the other. But the intent is to grow in both the businesses and both have their own growth trajectory and we see a tremendous growth in both of them. Yes, digital currently looks much more domestic driven whereas visa and consular business. We are looking at much more say targets outside India in that business.
But we are open to businesses which have synergy with our existing business or we can add value in those businesses.
Unidentified Participant
Understood. And my second question was on the Aadhaar contract. So we’ve started to sort of set up those centers. So over the next six months we’ll start seeing full revenue starting to flow. Could you sort of walk us through what sort of revenues do we expect over FY27 and 28 on through this contract? And on economics, how do the margins look like?
Shikhar Agarwal
See this is too soon to write or tell you a firm picture on that because we have rolled out phase one, you know, for 40, 50 centers, you have to roll out 300 centers and numbers start coming in, you know, not from fully full implementation, takes at least a year. This was I think upwards of 2000 crore contract that we had won. And the revenue is to be accrued over next five, six years to us, you know, from the time the contract is fully deployed. And we’re expecting a typical margin of I think 15 to 20% EBITDA margins in this contract.
Unidentified Participant
Understood. And, and so this contract sort of expires. So after five, six years this goes back to normally any,
Shikhar Agarwal
Any. No, no, it’s not, that’s not the case normally in any tenders, normally they are for, you know, different duration. Six years, seven years, eight years, 10 years. Now this contract for six years. So maybe it will come for retender, it will get extended, etc, we’ll see. We don’t know what will happen after six years. But yeah, yeah, this
Unidentified Participant
Is one under BLS International or the E Services
Shikhar Agarwal
International. Because see this is like a passport civil project wherein you will have to deploy offices across India. People will come to you and you will get per application, payment etc and you know, so that is why we felt that this is, this is onshore delivery within India entire one cities. So this is under Peters International.
Unidentified Participant
Got it. Perfect. No, all the best for the coming here. Thank you. Thank
Shikhar Agarwal
You so much.
Operator
Thank you. Your next question comes from the line of DAR J with Crown Capital. Please go ahead.
Unidentified Participant
Hello. Good, good. Good evening sir. Thank you so much for taking my question. Firstly congratulations on a great set of results sir. So just wanted to understand in terms of our EBITDA margins we performed really well. But the digital business at a higher scale I think our margin suffered a bit. So how do you look at it like going forward? Sir,
Shikhar Agarwal
I think Amit can also add. But Amit Devi can add about this.
Amit Sudhakar
So see as I said we have acquired this Adi Fiddlis which is a loan distribution company where the margins are. EBITDA margins are ranging around 4 to 5%. So as the mix is changed in the digital revenue the margins are showing lower but there is a growth in the margins and that is about more than 30% plus growth in the margin. But the business model is it’s worked on a commission of 2.2.5% on the loan which get distributed and which is also passed through to the DSAs and the other. So margins are thin but volumes are very high.
Unidentified Participant
Okay, okay. So it’s a commission business. So fair enough. So on an overall basis like what is the you know, margin that we can expect because the Visa business also we are hitting really good margins. So in terms of capping like I think 40 margins are really great but can we sustain them? Like what do we look at like in terms of sustainable long term margins overall for the business or the Visa business? Whatever you would be comfortable commenting, sir.
Amit Sudhakar
So if you see this, that is this year the Adi Fiddlers sale has been there in the whole year, post the whole financial year. So this currently the 7 to 8% EBITDA margin of digital has got stabilized. We are now looking at how to improve it going forward. And whereas the visa business is around currently touching around 40% we are looking at now maintaining those. So the current margins are what we are going to now look at going forward.
Unidentified Participant
Okay, okay. Fair, Fair enough. Yeah, that’s it from my side. Thank you so much sir.
Amit Sudhakar
Thank you.
Operator
Thank you. The next question comes from the line of Varun from Ascent Capital. Please go ahead.
Varun Subramanian
Hey guys, great set of numbers. Thanks. Just wanted to check this impact of the war. Right. Have you seen now that you’ve been through so many cycles, have you sort of seen that the seasonality impact shifts? Because obviously we have that seasonality with regards to maybe the holiday quarters or whatever, you know, historically, because you’ve been through Covid and other events in the past, have you seen that impact sort of getting shifted where there’s a pent up demand and it comes back later, at least in specific geographies?
Shikhar Agarwal
I think definitely, you know, if you, as you’ve said, you know, 20 years we’ve been operating, there are different geopolitical scenarios happening time and again. Every year there’s something or the other happening in different part of the world. We are in 70 countries now. So definitely, you know, there is a little bit of impact on us. But yeah, there could be. We’re not sure, you know what will happen in the future. But yeah, we have seen a little bit drop in numbers in some countries but still we have grown on annual basis, on a quarter basis we are still growing.
So we don’t know exactly after Covid. Obviously travel was zero in Covid. So numbers obviously came back after Covid. It’s not zero. There’s a little bit of impact. Could, could be that it comes back, but yeah, we cannot comment on that fully.
Varun Subramanian
Got it. And second thing, just wanted to check on the UK hotel. What is the sort of update on that? And secondly, is that a space in which you’re going to continue to make acquisitions or is that still a one off as of now
Shikhar Agarwal
We announced, I think we have already said it in the last few quarters that this was not, we will not do any acquisition in the hotel space. This is going strong and as we have said that we are looking at the model where it’s asset light model and that is what we are focused on.
Viren Sameer Deshpandi
Understood, thank you.
Operator
Thank you. The next question comes from the line of Sameer Deshpande with Fair Deal Investments. Please go ahead.
Viren Sameer Deshpandi
Hello sir. Congratulations on the good results and the consistency over last two, three years in growth has been quite good. So I think the with the catching base effect the growth rates are seeing some tapering of maybe quarterly. But now as you mentioned, I wanted to know about the effective tax rate. Our tax rate is I think in early 10, 12%. So what is likely to be the taxes going forward?
Amit Sudhakar
So see just to give you a rough position that in Dubai we have a free trade zone where we are companies which is practically still the tax free zone. So the effective Rate of the group comes currently around 10 to 12%. This may go a little higher in the future because in Dubai they may change the tax rate from 9% to 12. Then that will have maybe a minor impact on our net position by about a percentage. But end of the day boils down on the sale and the profit in the respective countries and the tax rate in those respective countries.
Viren Sameer Deshpandi
So except Dubai we are not expecting any change. So maybe it is 10 12%. It may be 13% will not be substantially higher.
Amit Sudhakar
No, that’s. That’s correct. Unless until your again theoretically if your profit goes very high in few countries as a percentage it changes and the taxes are higher in those places like currently India is growing faster and therefore the mix is changing slowly.
Viren Sameer Deshpandi
And after our China operations which we started I think six months back after receiving it from the Minister of External affairs, how is the business on that front
Shikhar Agarwal
Started? Numbers are going steady and still there’s a lot of potential for numbers to grow.
Viren Sameer Deshpandi
So overall our blended margins are about 25% considering the lower margins in the digital services or UIDI but very high good margins of about 40% in our visa and consular services, our main core area. So the core area growth suppose continues in double digits about 10 to 15% then that will be good band. The digital services will grow substantially higher. So the blender margin is expected to continue about 25%
Shikhar Agarwal
Going to contain the margins digital business that we are seeing as in when the business grows we get more services implemented there. Definitely our expectation is in the future margins will go up in the digital business.
Viren Sameer Deshpandi
So they will continue to be. So current margins are expected to hold going forward.
Amit Sudhakar
Yeah, subject to the ratio remaining the same.
Viren Sameer Deshpandi
Okay, that is true. But our visa and consular continues to be around 40% so that is a main area.
Amit Sudhakar
See both the businesses will maintain their current margins.
Viren Sameer Deshpandi
Okay, thank you. And the cash reserves are quite good. So to interrupt. Okay, thank you. Thank you. And all the best. Thank you.
Operator
Thank you. We have our next question coming from the line of Gopalakrishnan with Utanush investments. Please go ahead.
Unidentified Participant
Yeah. Excellent evening all of you. Thank you for the opportunity and congratulations to the team on great set of numbers. So my question is about this other income this quarter the other income is the highest. I just wanted to know whether it is. I know it is through the investment that we make and the FD and all of that FD interest and all. Is it sustainable? That is my first question
Amit Sudhakar
This quarter it is little higher. About 5 to 6 crore is because of the foreign exchange gain that is a one off. It won’t come every year. But the balance is the continues on the or mainly on account of interest on the FDS which we have and the mutual fund tech which we have that mutual funds income.
Unidentified Participant
Also another thing is about intangible assets for 1003-1200 crores that you are showing. I just wanted to know whether the what it is and whether I mean it is going to be there sustainable.
Amit Sudhakar
So see they. They are being tested for impaired impairment by the valuers in all the. All the respective countries. And currently there is no impairment on that as per the valuations report which we have received. So it will depend on how the valuation will be done. Every year we get it done and on the basis of that we book the entries.
Unidentified Participant
Okay. And then update on any ban on our company on new tenders. And also our Prime Minister’s call not to travel for one year. Any impact on our business.
Shikhar Agarwal
We are a global company in 70 plus countries. And definitely you know increase in travel both outbound and within India increases you know, appetite for customers who travel. So definitely we see ourselves going steady.
Unidentified Participant
And then me a travel ban on a new tender. Any updates? Sir,
Shikhar Agarwal
We have already given the update. There is no ban.
Unidentified Participant
Okay, thank you. That’s all. Thank you sir.
Operator
Thank you. The next question comes from the line of Amit Maheshwari with Maheshwari family office. Please go ahead.
Unidentified Participant
Hi. Am I audible?
Amit Sudhakar
Yes, we can.
Unidentified Participant
Yeah. So first of all thank you and congratulations on a good set of numbers. I actually wanted to get a little more color on the. While we, you know, on the geographical split between our revenues. So while I understand that it’s not possible to share it at a country level basis but if you could just throw some color on which are the key geographies and their broad contribution to our revenue. So that’s my first question and my second question would be in terms of the presentation mentions that there is a potential opportunity of about 1 to 2 billion dollars worth of contracts expected to come up for bidding in the next couple of years.
If you can throw some color on the, you know different. What is if we were to say split our pipeline in various stages in terms of early evaluation, active bidding and or and sort of early stages of exploratory bidding. If you could just split it into those three categories at a broad level. I understand you may not have the specific numbers readily available but if you could just give that. That would help us sort of improve our understanding of the business. Thank you.
Shikhar Agarwal
If I can give you some understanding of the business. We’ve been going for the last three years at 50% CAGR in terms of revenue and bottom line. And if you’ve seen the last 10 years growth of the company that is on back of existing contracts, new contracts, last year itself we won 5, 7, 8 contracts that we’ve already won and deployed. That is why we’ve seen an increase in volume, you know. And as we said we continue to bid for new tender. This is the business we are in. Multiple tenders that keep on expiring of our competitors.
Every year new governments come out for tenders and we are at different stages of different tenders in Europe, North America, etc. As and when the win comes we’ll definitely announce it but we’ll continue to maintain our growth trajectory of 20 to 25% every year.
Unidentified Participant
Let me maybe I can rephrase my question. I’m not trying to understand which we are winning. I just want to understand of let’s say a potential 1 billion worth of contracts coming in. How much do we expect to potentially come up for a tender say this year and how much say would be next year? Would it be possible to give you a give a broad indication? I don’t
Shikhar Agarwal
Think so. I think in the next one or two years only most of them are going to come out.
Unidentified Participant
Okay. And in terms of geographical split, how much of our revenues would be say from Europe, Asia, Middle East, Is it possible to give that broad indication?
Shikhar Agarwal
I don’t think Amit, I don’t really understand the question actually.
Amit Sudhakar
If you are asking the current business or you are asking for the expected for
Unidentified Participant
The current business.
Amit Sudhakar
So the last year, if you ask me the major, I don’t have the person but I can tell you the big region which we have been catering to is basically in uae. And then you have Saudi, you have Morocco, Algeria, uk, usa, Canada and Singapore. If you ask me these are the major and now China which has picked up there.
Unidentified Participant
Okay and just as a follow on.
Operator
Sorry to interrupt. It’s
Unidentified Participant
Just a follow on question because sir mentioned uae. There are
Operator
Several participants waiting for that and really sorry sir.
Unidentified Participant
Yeah, no, I am not doing a fresh question. I’m just doing a follow on question because uae
Operator
For any further follow up questions we request you to rejoin the queue.
Unidentified Participant
Okay, fair enough.
Operator
Thank you. The next question comes from the line of Vikram Hirawat with CR Polymers. Please go ahead.
Unidentified Participant
Hi, sorry, most of my questions are answered. I was unable to get off the queue. Anyway, thank you so much. Thank you.
Operator
Thank you. We have our Next question coming. Sorry. Our next follow up question coming from the line of Mehul Panjwani with 40 cents. Please go ahead.
Mehul Panjwani
Sir, my question is regarding the 2500 crore project or tender you alluded to in one of the responses. Can you throw some light and elaborate on it? Hello.
Amit Sudhakar
Which project?
Mehul Panjwani
So you mentioned in one of the responses about 2500 crore project or tender. So I missed that one. If you can please elaborate.
Amit Sudhakar
Uid uid AAD project.
Mehul Panjwani
Okay. So that we did we win it in FY26 or it is ongoing.
Amit Sudhakar
We have one. We have won the contract. We are deploying. It is to be. The whole project has to be done in three phases. We have completed the first phase and second phase is under process. And the third one will get completed in the current chill financial year. And this project is for six years,
Mehul Panjwani
Right? Sir, what are we supposed to. What kind of services are we providing as part of this project?
Amit Sudhakar
We are. We are basically opening offices for Aadhaar wherein people can come or get their Aadhar amended. They can have a new Aadhaar card and it is will be directly under the Aadhaar Department of Central government.
Mehul Panjwani
So we are just building the physical infrastructure. We are also having us.
Amit Sudhakar
We are opening more. This
Shikhar Agarwal
Is also the same user bay model that we are doing in the visa outsourcing industry. That we get money per application.
Mehul Panjwani
All right. All right. Okay. Thank you, sir. Thank you so much. All the best.
Operator
Thank you. Ladies and gentlemen, we will take this as our last question for the day. I now hand the conference over to Mr. Gauravchuk for closing comments.
Mr. Gaurav Chugh
Thank you everyone for joining this call. If you have any questions you can reach out to EY team or myself. We are available for the calls. Thank you so much and have a good evening.
Operator
Thank you. On behalf of BLS International Services limited that concludes this conference. Thank you everyone for joining us. And you may now disconnect your lines.