Persistent Systems Limited: Company Profile

Background

Overview

Persistent Systems Limited, established in 1990, is a global technology services company headquartered in Pune, Maharashtra, India. The company specializes in digital engineering and enterprise modernization, offering services such as cloud computing, internet of things (IoT), endpoint security, big data analytics, and software product engineering. Persistent Systems serves a diverse clientele across various industries, including banking, financial services, insurance, healthcare, life sciences, and telecommunications.

Mission and Vision

Persistent Systems is committed to delivering innovative solutions that drive digital transformation for its clients. The company's mission is to provide comprehensive digital engineering and enterprise modernization services, enabling clients to anticipate market changes and achieve sustainable growth. Its vision is to be a trusted partner in navigating the complexities of digital transformation, leveraging deep technical expertise and industry experience.

Industry Significance

As a leading player in the IT services sector, Persistent Systems has been recognized for its contributions to digital engineering and enterprise modernization. The company has been named a Challenger in the 2024 Gartner Magic Quadrant for Public Cloud IT Transformation Services, reflecting its strong position in the market.

Key Strategic Focus

Core Objectives

Persistent Systems aims to accelerate clients' digital transformation journeys by providing end-to-end solutions that encompass software engineering, cloud services, data analytics, and intelligent automation. The company focuses on delivering value through innovation, efficiency, and agility.

Areas of Specialization

• Digital Engineering: Developing and deploying software products and platforms that meet evolving business needs.

• Enterprise Modernization: Transforming legacy systems and processes to enhance agility and performance.

• Cloud Computing: Offering cloud-native solutions that drive scalability and flexibility.

• Data Analytics: Leveraging data to provide actionable insights and support decision-making.

• Intelligent Automation: Implementing automation strategies to improve operational efficiency.

Key Technologies Utilized

Persistent Systems employs a range of advanced technologies, including:

• Cloud Platforms: Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure.

• Data Analytics Tools: Big data frameworks and analytics platforms.

• AI and Machine Learning: Integrating AI capabilities into solutions for enhanced intelligence.

• IoT Solutions: Developing IoT applications for various industries.

Primary Markets Targeted

The company primarily targets markets in North America, Europe, and Asia, with a significant presence in the United States, which contributes over 80% of its revenue.

Financials and Funding

Funding History

Persistent Systems has been publicly listed since 2010 on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India. The company has raised capital through public offerings and strategic acquisitions to support its growth initiatives.

Recent Financial Performance

• Fiscal Year 2025: Reported revenue of ₹11,908.85 crore, with a net profit of ₹1,400.16 crore, marking an 18.8% year-on-year increase in revenue and a 28.0% increase in net profit.

• Q1 FY26: Achieved revenue of $389.7 million, with a net profit of ₹424.93 crore, reflecting a 39% year-on-year growth.

Notable Investors

Persistent Systems has attracted investments from various institutional investors, including:

• BlackRock: Approximately 5.06% ownership.

• HDFC Asset Management: Around 4.50% ownership.

• ICICI Prudential Mutual Fund: About 3.20% ownership.

Utilization of Capital

The capital raised has been utilized for:

• Strategic Acquisitions: Enhancing service capabilities and market presence.

• Research and Development: Investing in innovation and technology advancements.

• Global Expansion: Establishing a presence in new geographies to serve a broader client base.

Pipeline Development

Key Pipeline Candidates

Persistent Systems is actively developing solutions in the following areas:

• Generative AI Solutions: Developing AI-powered offerings to accelerate software development and enhance customer experiences.

• Cloud-Native Applications: Building scalable and flexible applications leveraging cloud technologies.

• Data Analytics Platforms: Creating platforms that provide actionable insights for business decision-making.

Stages of Development

These initiatives are in various stages, from conceptualization to deployment, with ongoing efforts to integrate emerging technologies and meet client needs.

Target Conditions and Timelines

The company aims to deliver these solutions within the next 12 to 24 months, aligning with market demands and technological advancements.

Technological Platform and Innovation

Proprietary Technologies

Persistent Systems has developed proprietary platforms such as Persistent iAURA, an AI-enabled data transformation platform, and ExtenSURE.AI, a suite of GenAI-led offerings for software engineering and legacy modernization.

Significant Scientific Methods

• Agile Development Methodology: Ensuring iterative and efficient software development processes.

• AI and Machine Learning Integration: Enhancing solutions with intelligent capabilities.

• Cloud-Native Architecture: Designing applications optimized for cloud environments.

AI-Driven Capabilities

The company leverages AI to develop digital assistants, automate processes, and provide predictive analytics, thereby enhancing operational efficiency and customer engagement.

Leadership Team

Key Executives

• Anand Deshpande: Chairman and Managing Director.

• Sandeep Kalra: Chief Executive Officer.

• Vinit Teredesai: Chief Financial Officer.

Professional Backgrounds

• Anand Deshpande: Founder of Persistent Systems, with extensive experience in software engineering and enterprise technology solutions.

• Sandeep Kalra: CEO with a background in leading technology companies and driving digital transformation initiatives.

• Vinit Teredesai: CFO with expertise in financial management and strategic planning.

Key Contributions

• Anand Deshpande: Instrumental in establishing and growing Persistent Systems into a global technology services provider.

• Sandeep Kalra: Leading the company's strategic direction and expansion into new markets.

• Vinit Teredesai: Overseeing financial operations and supporting the company's growth strategies.

Competitor Profile

Market Insights and Dynamics

The global IT services market is highly competitive, with numerous players offering a range of services. Persistent Systems differentiates itself through specialized focus on digital engineering and enterprise modernization. The company holds an estimated 2.5% market share in the digital engineering services segment.

Competitor Analysis

• GlobalLogic: A Hitachi Group company specializing in digital engineering services.

• LTI Mindtree: A merged entity offering a broad spectrum of IT services.

• EPAM Systems: A global provider of digital platform engineering and development services.

Strategic Collaborations and Partnerships

Persistent Systems has established strategic partnerships with leading cloud providers, including AWS, Google Cloud, and Microsoft Azure, to enhance its service offerings and deliver comprehensive solutions to clients.

Operational Insights

The company's focus on digital engineering and enterprise modernization, coupled with its strategic partnerships, positions it to effectively compete in the IT services sector. Persistent Systems' ability to deliver specialized solutions and maintain strong client relationships contributes to its competitive advantage.

Strategic Opportunities and Future Directions

Strategic Roadmap

Persistent Systems plans to expand its presence in emerging markets, invest in research and development to drive innovation, and enhance its AI and cloud capabilities to meet evolving client needs.