Investor Meeting Details

Persistent Systems Limited conducted one-on-one institutional investor meetings on September 23, 2026, with the following schedule:

  • Goldman Sachs Asset Management at 9:00 AM IST
  • Tata AIA Life Insurance at 10:30 AM IST
  • HDFC Life Insurance at 12:00 PM IST
  • Nippon Mutual Fund at 2:00 PM IST
  • Fidelity International at 4:00 PM IST
  • Invesco Mutual Fund at 5:00 PM IST

During these sessions, the company reiterated information contained in the Investor Presentation submitted to stock exchanges on September 19, 2026 (Ref No. NSE & BSE / 2026-27 / 126). The company confirmed that no unpublished price sensitive information was shared or discussed.

Business Performance Highlights

Financial Performance:

  • Q1FY27 Revenue: $452 million USD
  • QoQ Growth: 3.76% (significantly above Indian IT peer average of 0.52%)
  • YoY Growth: 16.07% (significantly above Indian IT peer average of 3.44%)
  • 25 consecutive quarters of sequential revenue growth since FY2021
  • Relative outperformance vs peers: 3.24% QoQ and 12.63% YoY

Client Metrics:

  • Top 10 clients represented 39.0% of total revenue in Q1FY27
  • Client concentration: 4 clients with >$75M revenue, 8 clients with $20-75M revenue, 20 clients with $10-20M revenue, 28 clients with $5-10M revenue, 154 clients with $1-5M revenue

Nagarro Acquisition Transaction Details

Transaction Structure:

  • Persistent has agreed to acquire 100% of Nagarro SE at Enterprise Value of approximately €1.27 billion
  • Purchase price: €81 per share in cash
  • Premium of ~140% to undisturbed closing price on June 25, 2026
  • Premium of ~94% to three-month volume-weighted average price
  • Valuation multiples: 1.27x EV/CY25A Revenue; 9.19x EV/CY25A Adjusted EBITDA

Current Ownership and Conditions:

  • Persistent has already secured ~21% stake in Nagarro via share purchase agreement
  • Nagarro Management Board has expressed intent to tender their shares into open offer
  • Both Nagarro Boards (Supervisory and Management) fully support transaction and signed Business Combination Agreement
  • Minimum acceptance threshold for open offer: 50% + 1 share (excluding treasury shares)

Nagarro Business Profile:

  • Digital engineering business with €1 billion revenue
  • 18,003 professionals across 38 countries (13,145 in India, 1,100 in Germany, 831 in Romania, 558 in US, 502 in Philippines)
  • AI-first diversified digital engineering solutions across digital engineering, intelligent enterprise, and experience & design
  • Portfolio of over 1,000 clients across 72 countries
  • Strong European presence across Automotive, Manufacturing and Industrial, Retail and CPG, Financial Services and Insurance, Travel and Logistics

Strategic Rationale

  • Creates highly complementary strategic fit with globally balanced profile across regions and verticals
  • Significant delivery and leadership presence in India will aid integration
  • Forms AI-led engineering powerhouse with end-to-end offerings across multiple sectors
  • Adds new dimension of scale with 18,003 employees including 16,429 engineering professionals
  • Expands capabilities in AI, digital, product design, ERP and CX capabilities
  • Provides diversification across Europe, Middle East and Asia
  • Adds vertical scale in BFSI, TMT, HLS, Industrials, Retail and Public Sector

Foreign Exchange Rates

Provided detailed weighted exchange rates (INR/USD) for quarterly periods from Q1FY23 to Q1FY27 and annual periods from FY12 to FY26.