Watchlist Sign InTax GuideDefence StocksBreakout StocksAuto StocksLive IPOsDubai Gold RateLatest NewsTata Capital IPOStock InsightsGold Rates IndiaMain Nikla Funde Le KarNifty 50-Sensex PerformanceIn focusThe US Treasury Secretary Scott Bessent‘Two great countries will get this solved’: Scott Bessent on India-US trade tensions, calls SCO summit ‘performative’Stocks to watch today, September 02From Reliance Industries, Coal India, United Breweries to Bharat Electronics- Here are 7 stocks to watchFederal Bank vs. IDFC First Bank – Who is ahead after Q1 results?After 45% rise, is Ola Electric still attractive?The truth behind India’s top 3 fastest-growing companiesBusiness NewsbusinessindustryPersistent Systems on track to reach $2 billion by FY27Persistent Systems on track to reach $2 billion by FY27Persistent Systems posts 12.2% profit growth in Q4, with revenue up 5.9% to Rs 3,242.1 crore. CEO Sandeep Kalra reaffirms $2B FY27 target, driven by BFSI and healthcare verticals. EBIT margin improves to 15.6%. Company sees strong order bookings, eyes $5B revenue by FY30.Written by Geeta NairUpdated:May 7, 2025 18:09 IST Follow UsBSE, BFSI, Industry, Persistent Systems, EBITDA, DOGEThe company announced an additional dividend of Rs 15, taking the total dividend to Rs 35 per share for FY26. (Image/Official Site)Persistent Systems reported a sequential net profit growth of 12.2%, reaching Rs 395.76 crore for the March quarter. Revenues increased by 4.2% quarter-on-quarter to $ 375.2 million. Revenue was up 5.9% sequentially to Rs 3,242.1 crore. The company achieved a 70 basis point improvement in EBIT margins to 15.6% for the quarter. EBIT rose by 10.9% quarter-on-quarter to Rs 505.29 crore. For the quarter ending March 31, 2025, the total contract value (TCV) for order bookings was $ 517.5 million, with an annual contract value (ACV) of $ 350.2 million. Persistent’s utilisation rate increased to 88% in Q4 FY25, compared to 81% in Q1 FY24, which helped improve margins.Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent, stated that the company had outperformed its peers and continued to grow in an uncertain macroeconomic environment. He noted that this marks the 20th consecutive quarter of revenue growth. Kalra expressed optimism about achieving $ 2 billion in annual revenue by FY27 and aimed for revenue of $ 5 billion by FY31. “If we maintain quarterly revenues at the $ 375 million level, the company would reach $1.5 billion in FY26. Growth could also come from acquisitions in new verticals or tuck-in acquisitions,” he said. The company has retained the target of a 200 basis point margin improvement over two years (FY26 and FY27).ALSO READGensol EV shuts shop, lays off remaining staff as crisis brewsAccording to Kalra, over the last six quarters, the growth at Persistent was driven by the healthcare and life sciences vertical. This year, growth would be led by the banking, financial services, and insurance (BFSI) vertical, followed closely by software, hi-tech, and emerging technologies, which offer a significant addressable market. The company expects to benefit from cost optimisation and vendor consolidation initiatives at the customer end. The BFSI vertical grew by 26.6% to $ 121 million, health care and life sciences by 33.6% to $ 100 million and software, hi-tech and emerging technology up 9.7% to $ 153.5 million during the March quarter.While revenues from healthcare and life sciences are anticipated to continue growing, they may face some impact from budget cuts by DOGE and an increased level of caution in the US market. On a positive note, there has been an uptick in offshoring in the healthcare and life sciences sector.The company’s headcount increased by 744 to 24,594 during FY26. Attrition was at 12.9%. Vinit Teredesai, Chief Financial Officer of Persistent, has been appointed as an additional director to the board.The company announced an additional dividend of Rs 15, taking the total dividend to Rs 35 per share for FY26. The Persistent stock rose 0.51% on the BSE to Rs 5,189 after the Q4FY24 results announcement.ExpandTerms & Condition Privacy Policy Contact UsCopyright © 2025 The Indian Express [P] Ltd. All Rights Reserved