SCHÜTZENPANZER PUMA : GERMANY’S DEADLY NEW INFANTRY FIGHTING VEHICLE

[Penguin]

ARMOUR

The Puma with add-on armour can withstand hits from medium caliber projectiles like 120 mm HE tank shells all around.

The protection level highly depends on the added armor plates.
Protection level A means allround protection against 14,5 mm and partial protection (front, some other parts depending on direction of enemy fire) against 30 mm.
Protection level C is the maximum defense, meaning allround against 30 mm and extended protection against RPG and other AT weapons.

The basic armour can resist direct hits from 14.5 mm Russian rounds, the most powerful HMG cartridge[10] in common use today (and up to twice as powerful as the western de facto standard .50 BMG cartridge).[11] The frontal armour offers protection against medium caliber projectiles and shaped charge projectiles.[12] In protection class C, the flanks of the Puma are up-armored to about the same level of protection as is the front, while the roof armor is able to withstand artillery or mortar bomblets.

https://en.wikipedia.org/wiki/Puma_(IFV)

NOT 120mm high velocity tank rounds

Though in some respects better protected than MBTs (mine protection e.g.)
German Puma IFV moves towards service - IHS Jane's 360