Persistent Systems Ltd
NSE:PERSISTENT
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Persistent Systems Ltd
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Persistent Systems Ltd
Persistent Systems is an Indian IT services company that helps businesses design, build, and modernize software. It writes custom applications, engineers digital products, moves systems to the cloud, and maintains existing software for customers. Its main clients are enterprises and software companies that need outside engineering help, especially in areas like financial services, healthcare, and technology. The company makes money mainly by charging for software development and related services. Some work is sold as long-term service contracts, while other projects are billed as fixed-price or time-based engagements. Persistent does not usually sell a packaged software product; instead, it acts as a delivery partner that helps customers turn ideas and legacy systems into working software. What sets Persistent apart is its focus on product engineering rather than simple outsourcing. It often works close to a customer’s internal teams and product roadmap, helping build new digital products and modernize older ones. That makes it a useful middle layer in the technology value chain: less like a mass-market software seller and more like a specialized engineering firm for companies that need custom code, cloud migration, and ongoing application support.
Persistent Systems is an Indian IT services company that helps businesses design, build, and modernize software. It writes custom applications, engineers digital products, moves systems to the cloud, and maintains existing software for customers. Its main clients are enterprises and software companies that need outside engineering help, especially in areas like financial services, healthcare, and technology.
The company makes money mainly by charging for software development and related services. Some work is sold as long-term service contracts, while other projects are billed as fixed-price or time-based engagements. Persistent does not usually sell a packaged software product; instead, it acts as a delivery partner that helps customers turn ideas and legacy systems into working software.
What sets Persistent apart is its focus on product engineering rather than simple outsourcing. It often works close to a customer’s internal teams and product roadmap, helping build new digital products and modernize older ones. That makes it a useful middle layer in the technology value chain: less like a mass-market software seller and more like a specialized engineering firm for companies that need custom code, cloud migration, and ongoing application support.
Revenue: Persistent reported Q4 FY '26 revenue of USD 436 million, up 3.2% quarter-on-quarter and 16.2% year-on-year, with full-year revenue of USD 1.65 billion, up 17.4%.
Margins: EBIT margin came in at 16.3% in Q4 and 15.6% for FY '26. Management said the quarterly improvement was helped by the absence of the prior quarter’s wage-code cost, operational efficiencies, and currency.
Bookings: Quarterly TCV was USD 600.8 million and quarterly ACV was USD 445.1 million. Management said the sequential moderation was normal seasonality because December is usually the peak renewal quarter.
AI Push: The company is leaning harder into AI, highlighting its SASVA, iAURA and Gen AI Hub platforms, more than 500 agents, and a planned AI Investor Day in early June to showcase capabilities and customer cases.
BFSI Strength: BFSI was the strongest vertical, growing 24.4% year-on-year in Q4 and 28.4% for the full year, supported by modernization, data infrastructure work and AI-led engineering.
Outlook: Management reiterated confidence in reaching a USD 2 billion annualized run rate by the FY '27 exit and said the long-term margin aspiration remains in the 16% to 17% range, while still prioritizing growth and reinvestment.
