Type of Event: Earnings Conference Call for Q2 FY27 results and investor interaction.

Date and Time: The call was held on Thursday, October 15, 2026, at 5:00 PM IST.

Purpose: Discussion of quarterly results for the quarter and half year ended September 30, 2026, and a strategic business update, including progress on the Nagarro acquisition.

Management Participants:

  • Dr. Anand Deshpande, Chairman and Managing Director
  • Mr. Sandeep Kalra, Executive Director and Chief Executive Officer
  • Mr. Vinit Teredesai, Executive Director and Chief Financial Officer
  • Mr. Nitish Shrivastava, Chief Technology Officer – Engineering Hyper Productivity
  • Mr. Saurabh Dwivedi, Corporate Vice President, Finance and Strategy

Availability of Materials: The transcript of the investor/analyst call was made available on the company's website at https://www.persistent.com/wp-content/uploads/2026/10/Analyst-Call-Transcript-Q2FY27.pdf on October 23, 2026.

Compliance Language: The document is a regulatory filing submitted pursuant to Regulation 30 read with Schedule Ill (Para A) (15) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The call itself included a standard disclaimer that forward-looking statements made involve significant uncertainty and that Persistent does not take responsibility to update them.

Financial Period Discussed: Q2 FY27 (Quarter ended September 30, 2026).

Financial Highlights from Call:

  • Revenue: USD 487.6 million (7.8% QoQ growth, 20% YoY growth). Rupee revenue was Rs. 46,639 million (30.3% YoY growth).
  • EBIT: Rs. 6,977.2 million (19.5% YoY growth). EBIT Margin: 15%.
  • Operating PAT: Rs. 4,951.5 million (5% YoY growth). OPAT Margin: 10.6%.
  • Reported PAT: Rs. 3,515.1 million (-25.4% YoY). Reported PAT Margin: 7.5%, impacted by ~3.1% due to one-time Nagarro acquisition costs.
  • Headcount: 29,598 (increase of 958 QoQ).
  • Utilization: 85.8% (down 70 bps QoQ).
  • Attrition (TTM): 11.9% (vs. 12.3% in Q1).

Order Book:

  • Total Contract Value (TCV): USD 633.5 million.
  • TCV from New Bookings: USD 367.1 million.
  • Annual Contract Value (ACV): USD 481 million.
  • ACV from New Bookings: USD 262.3 million.

Strategic Updates:

  • Nagarro Acquisition: Significant update provided. The voluntary public takeover offer secured ~94.04% of Nagarro share capital. Merger control and FDI clearances are pending only from Austria and Spain. An RBI approval application is submitted. Financing plan involves raising USD 1.25 billion (USD 450M equity, balance debt). Deal closure is expected by Q4 CY26 or Q1 CY27. One-time transaction expenses of ~$50M are expected over 3-4 quarters, with $19-20M incurred in Q2.
  • Software Reinvention Services: A new offering was launched to help enterprise software companies build AI-native products and modernize legacy products. This was a key driver for the 28.5% YoY growth in the Software, High-Tech & Emerging vertical.
  • Large Deal: A 6.5-year engagement worth over $650 million with a large technology company was referenced, involving product development support and cloud operations.

Operational Metrics:

  • Client Movement: Healthy YoY growth across client buckets. Number of $1M+ clients increased from 191 to 280.
  • Geography Growth (YoY): North America +22.5%, Europe -8.5% (due to client-specific events), India +19.4%, Rest of World +67%.
  • Vertical Growth (YoY): Software, High-Tech & Emerging +28.5%, BFSI +16.2%, Healthcare & Lifesciences +12%.
  • Cash & Investments: Rs. 29,996.7 million (~$315M) as of September 30, 2026.
  • DSO: Billed DSO improved to 50 days (from 61 days in Q1). Unbilled DSO was 24 days (vs. 25 days in Q1).
  • OCF to PAT (TTM): 96.6% (vs. 76.2% in Q1).

Additional Notes Section

Attachments: The regulatory filing intimates the submission of the transcript of the call as an enclosure.

Financial Data: The announcement itself did not contain financial figures; they were disclosed during the call, the transcript of which was filed.