Persistent Systems Ltd
NSE:PERSISTENT
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Persistent Systems Ltd
NSE:PERSISTENT
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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 Q1 FY '27 revenue of USD 462.4 million, up 3.8% sequentially and 16.1% year over year, marking its 25th straight quarter of growth.
Bookings: The quarter produced a record total contract value of USD 1.14 billion, helped by a USD 650 million-plus strategic deal with a global technology company.
Margins: EBIT margin came in at 16%, down 30 basis points sequentially but up 50 basis points year over year, with lower utilization and higher software purchases partly offset by currency gains.
Cash Flow: Operating cash flow was weak at 24.2% of PAT because of delayed collections and tax timing, but management said this was a one-off and expects normalization over the year.
Nagarro: Management said the Nagarro acquisition is progressing as planned, with deal closure expected by Q4 CY '26 or at the latest Q1 CY '27, subject to approvals.
AI Strategy: The company emphasized AI-led engineering, data readiness and enterprise productivity as its three AI pillars, and said AI capabilities are already influencing wins across the business.