SANDEEP KALRA
Persistent Systems shares slide 5% despite Q2 revenue growth. Buy, sell or hold?
Persistent Systems shares fell 5% despite 7.8% sequential constant-currency revenue growth in Q2FY27, as margin contraction and a sharp decline in profit weighed on sentiment. Brokerages remained divided on the stock amid valuation concerns and acquisition-related costs.
Persistent Systems buys additional stake to get 83.2% control of Nagarro
The mid-sized Indian IT firm will delist Nagarro shares from trading on the stock market of the Frankfurt Stock Exchange.
AI to deflate IT revenue past 30%: Persistent CEO
Chief executive Sandeep Kalra said, "The expectation in the market is that using AI, you will be able to deflate the effort by 25% to 30%. And if the customers allow us to use the tools, we can really do it...It will increase over a period of time because as the tools mature, as people's capability matures, people will be able to use these tools."
Persistent CEO brushes off market rout, says Nagarro growth will reward investors
Persistent Systems' shares came under pressure on Monday with investor concerns over the deal's size, execution risks and the uncertainty around integration. The shares ended 11.3% and 11.2% lower at ₹4,292 and ₹4,298 per share on the NSE and BSE, respectively.
Persistent Systems Q2 net profit up 45% YoY to Rs 471 crore
Revenue, which increased 23.5% y-o-y and 7.3% quarter-on-quarter (q-o-q) to Rs 3,580.7 crore, was supported by 30% y-o-y growth in its banking, financial services and insurance (BFSI) segment, and a 15.5% y-o-y expansion in the software, hi-tech and emerging industries verticals.
Mid-tier IT company Persistent's Q4 net profit balloons 25%
While healthcare will continue to see softness, CEO and executive director Sandeep Kalra is optimistic that banking, financial services & insurance and technology sectors to lead growth in the next three to four quarters.
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Persistent Systems sees healthcare revenue growing to $1 billion in next 3-5 years
Revenue from the Healthcare and Life Sciences vertical is a little below $100 million per quarter. Sandeep Kalra, chief executive at Persistent Systems, said to ET, that Healthcare and Life Sciences vertical is growing at 71% on-year and “that’s a dream come true”. The vertical’s contribution to the company’s total revenue has grown by 8% in the last four quarters. Healthcare’s contribution to the firm’s revenue grew from 19.3% in Q2 FY24 to 27.8% in Q2 FY25.
Seeing more interest in outcome-based deals: Persistent Systems CEO
Though Persistent Systems had been doing outcome-based deals, GenAI has enabled such deals at a much higher scale, according to Kalra. “So, from our perspective, we are seeing more and more interest in outcome-based deals because it’s something where the customer gets more value, and we are able to capture a bit more from a value perspective using our own IP that we are building. That’s how we are differentiating ourselves in the market,” he said.
Our aspiration is to make Persistent a $2 billion plus company in next three years: CEO
Persistent Systems CEO Sandeep Kalra discusses the company's growth strategy amidst challenging market conditions, focusing on leveraging investments in generative AI and sales/marketing to achieve margin growth goals in the upcoming years. Kalra says: "We want to grow in line with what we have done in the past from an outperformance perspective and that is what we are looking at. "
$521 mn total deal wins' the highest we have seen in Persistent Systems: CEO
Sandeep Kalra says: “In terms of industry verticals, we have said it over the past several quarters, that healthcare life sciences will lead the growth for us for the next several quarters, followed by technology companies, followed by BFSI. And that is the trend that we are seeing in our order book and that should pan out for us as well.”
Persistent Systems Q1 Results: Firm logs 8% rise in net profit
"We commenced the year (FY24) by celebrating a significant milestone of surpassing USD 1 billion in annual revenue... we have sustained our growth momentum despite the challenging macroeconomic conditions," Kalra said in a statement.
Persistent Systems targets to double revenues to $2 billion in four years
CEO Sandeep Kalra said the company's quarterly revenues stood at $125 million three years ago, and the rate of doubling will take longer at four years now, given that it will be a bigger size.
Persistent Systems Q1 Results: Net profit rises 40% to Rs 211 crore
The company, which reported a total contract value of USD 394 million during the reporter quarter, is observing cautiously the developments but is confident of business momentum going ahead.
Sandeep Kalra explains what the latest acquisitions mean for Persistent Systems
“Whenever there is a transaction, in the initial year, the cost of doing the transaction and amortisation is reflected before the synergy revenue can start kicking in. For the first year, on the EBIT side, we are expecting this to have a 45 to 50 bps impact but we are very confident that as we go ahead and integrate the organisation into our fabric and take these services to our customer base over next -3 years, we expect this to be much more accretive to the EPS side.”
Persistent Q2 results: Profit up 58%, firm flags headwinds on supply side
Persistent Systems CEO Sandeep Kalra said demand has been moving very strong from all of its verticals that ensured a broad-based growth during the quarter.
Persistent Systems is banking on deal wins to sustain growth momentum
Persistent Systems, a Pune-based mid-tier IT services firm, has clocked $225-300 million in average deal wins over the past four quarters, a trend that CEO Sandeep Kalra says is likely to continue.
Persistent Systems is on the lookout for acquisitions: CEO Sandeep Kalra
Persistent Systems had a cash balance of more than Rs 26.8 crore at the end of the June quarter, and a part of that would be deployed towards potential acquisitions, CEO Sandeep Kalra says.
How mid-sized IT CEO salaries changed in a pandemic year in India
CEO salaries at India’s mid-sized IT firms moved in tandem with the companies’ profits in a pandemic year, an analysis of annual reports for shows. But how does that compare with the remuneration of an average IT employee?
Delhi court denies bail to Navneet Kalra in oxygen concentrator black marketing case
A Delhi court on Thursday refused to grant anticipatory bail to businessman Navneet Kalra in connection with the seizure of oxygen concentrators, required by COVID-19 patients, from his upscale restaurants including 'Khan Chacha' in the national capital.
Persistent looking at niche buys to deepen its expertise
BFSI, healthcare, life sciences and hi-tech focus areas, says CEO Kalra.
Persistent Systems to pursue acquisitions in focus areas in FY22
This could be a company that helps expand its capabilities or geographic presence or deepen its strengths in an existing vertical
Persistent Systems to expand its presence in the US
Persistent Systems may set up a larger delivery centre in the US, and scale it up as the centre grows, CEO Sandeep Kalra says.
Persistent Systems appoints Charles Owen as Chief Corporate Development Officer
Prior to this, Owen was founder of investment firm Ev2 Ventures, investing in early-stage startups in the smart mobility sector in India.
Persistent Systems targets $1 billion in revenues
Sandeep Kalra, who has just taken over as the CEO, has since May 2019 been running the company's key technology business unit that accounts for almost 80% of its revenue.
Persistent Systems Q2 results: Net profit up 18.5% to Rs 101.9 crore
Revenue from operations increased 13.9 per cent to Rs 1,007.7 crore during the quarter under review, as against Rs 884.6 crore in the year-ago period, it added.
Persistent Systems appoints new CEO
Services firm Persistent Systems has appointed Sandeep Kalra as the chief executive following Christopher O’Connor's departure in August.
Persistent Systems reports increase in multi-year deals, with 9.5% growth in revenue
The Pune-headquartered company reported a 9.5% increase in revenue for the quarter to June $131 million, up 3.1% sequentially. In rupee terms, revenue increased 19.1% to Rs 991.3 crore and profit went up 9.1% to Rs 90 crore.
Business restructuring underway at Persistent Systems
Under new CEO Chris O’Connor, who took charge in April this year, Persistent Systems has adopted a solution-oriented approach to working with clients which has resulted in an increase in deal sizes. The company now maps a client’s overall IT spends against its own portfolio to determine what the other areas are where it can contribute.
Persistent Systems appoints Sandeep Kalra as president – Technology Services
Anand Deshpande, Managing Director, Persistent Systems, said, “I am thrilled to welcome Sandeep to Persistent Systems.
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