HDFC Bank Hands CMS Info Systems Five-Year Mandate For 6,000 ATMs Worth ₹400 Crore

CMS Info Systems on Sunday said it has been awarded an integrated ATM managed services outsourcing mandate from HDFC Bank, covering around 6,000 ATMs and valued at roughly ₹400 crore. The contract will run for five years.

CMS, which is India's largest cash management services provider, will be handling more than just basic maintenance under this deal. The scope of work covers currency forecasting, logistics, and the rollout of the company's Vision AI-based monitoring solution called HAWKAI.

The idea is to keep the ATMs running smoothly and stay on top of compliance requirements. The arrangement is a fixed-pay deal structured around full-stack outsourcing.

CMS Info Systems shares were up 3.32%, trading at ₹297.35 on Monday at around 10:00 am.

A Push Into ATM Modernisation

This contract is more than a routine ATM servicing arrangement. CMS has described the deal as one that combines logistics with technology solutions for modernising the ATM network. Vision AI and HAWKAI are central to that pitch, helping banks shift away from the older, more manual ways of managing ATM uptime.

For HDFC Bank, the move fits into a wider trend of banks handing over their cash and infrastructure operations to specialist service providers, who can run them more efficiently at scale.

A Bigger Foothold In Private Banking

The HDFC Bank deal also reshapes CMS's customer mix. Private banks now account for around a quarter of the company's revenue, up from roughly a fifth in FY25. The company has set a target of taking that share to 30% by FY27.

Speaking on the development, Chief Business Officer Anush Raghavan said the latest mandate builds on the expanded ICICI Bank partnership won in FY26 and a ₹1,000 crore deal with State Bank of India secured earlier. With these three wins, CMS now counts the country's largest public sector lender, its biggest private bank, and one of its top private peers among its key clients.

According to Raghavan, the company is now well placed to shape the next phase of growth in the ATM management space and is on track to meet its FY27 and FY30 targets.

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Where This Leaves CMS

The string of recent wins points to a fairly clear pattern. As banks look to free themselves up from managing ATM and cash infrastructure on their own, specialist players like CMS are stepping in to fill that gap.

The HDFC Bank order is another data point in that story, and a meaningful one given the scale of the network involved.

Sources:

Business Standard

BusinessWorld