Financial Highlights (Consolidated)

Revenue Performance

  • Revenue (USD): $452.4 million, representing 3.8% QoQ growth and 16.1% YoY growth
  • Constant currency growth: 4.1% QoQ and 16.5% YoY
  • Revenue (INR): ₹43,032.3 million, representing 6.1% QoQ growth and 29.1% YoY growth

Profitability Metrics

  • EBIT: ₹6,868.8 million at 16.0% margin, with 4.2% QoQ growth and 32.7% YoY growth
  • PBT: ₹6,231.0 million at 14.5% margin, with -7.5% QoQ decline* and 12.2% YoY growth
  • PAT: ₹4,830.4 million at 11.2% margin, with -8.7% QoQ decline* and 13.7% YoY growth

*QoQ decline attributed to foreign exchange losses

Order Booking Performance

  • Total Contract Value (TCV): $1,146.2 million (highest-ever quarterly TCV)
  • Annual Contract Value (ACV): $536.8 million

Strategic Developments

Major Contract Wins

  • Signed 6.5-year strategic services agreement with a leading global technology company with TCV exceeding $650 million
  • Business Combination Agreement signed with Nagarro, a leading European digital engineering company listed on Frankfurt Stock Exchange

Key Client Wins by Vertical

Software, Hi-Tech & Emerging Industries:

  • Product development, support and cloud operations for multiple SaaS products for one of world's largest IT companies
  • Engineering transformation for global transport technology ecosystem for leading urban mobility platform provider
  • Enterprise transformation across Engineering, Support, IT, Data and Customer functions for leading cloud security company

Banking, Financial Services & Insurance:

  • Modernizing 250+ enterprise applications for leading global insurance claims management provider
  • Gen-AI-led reengineering of trade ledger platform for one of world's leading multinational banks
  • Cloud security transformation for one of largest U.S. banks

Healthcare and Life Sciences:

  • Consolidating 3,000 bots across 350 business processes for one of largest U.S. healthcare organizations
  • Unifying Salesforce, SAP and commercial operations for leading U.S.-based genomics company
  • Building modern enterprise data platform on Snowflake for leading U.S. healthcare technology company

Other Quarterly Achievements

  • Achieved Databricks specializations across multiple industry verticals and service lines
  • Strategic partnership with Kong to help enterprises securely move AI into production
  • Named Leader in ISG Provider Lens® Digital Engineering Services Midsize Providers Report 2026 for U.S. and Europe
  • Top honors for third consecutive year in Extel's 2026 Asia Executive Team Survey

Management Commentary

CEO Sandeep Kalra highlighted:

  • 25th sequential quarter of revenue growth
  • M&A strategy execution through Nagarro combination to strengthen capabilities and expand geographic footprint
  • Continued investment in 3C framework and AI-driven platforms for Intelligent Enterprises
  • Focus on creating unified Enterprise Context from business logic, data and enterprise experience

Company Overview

Persistent Systems is a global services company with:

  • Over 28,500 employees across 21 countries
  • Services include software engineering, product development, data and analytics, CX transformation, cloud computing, and agentic business automation
  • Index constituents: MSCI India Index, Nifty Midcap 50, Nifty IT, Nifty MidCap Liquid 15, S&P BSE 100, S&P BSE SENSEX Next 50, Dow Jones Best-in-Class World Index
  • Carbon neutral status achieved
  • Recognized as Fastest Growing IT Services brand globally in 2026 Brand Finance IT Services 25 report