Persistent Systems ( BSE : 533179 ) ( NSE : PERSISTENT ) announced on October 15th that the company's board of directors has approved the audited financial results for the quarter ending September 30, 2026.
The company stated that its quarterly revenue as of September 30, 2026, was $487.6 million, marking the 26th consecutive quarter of growth; there was a 7.8% quarter-on-quarter increase and a 20.0% year-on-year increase. The EBIT profit margin was 15.0%.
Persistent Chief Executive Officer and Executive Director Sandeep Kalra stated:
We are pleased to report that in the second fiscal quarter, FY27 achieved revenue of $487.6 million, marking the company's 26th consecutive quarter of growth. This represents a quarter-on-quarter increase of 7.8% and a year-on-year increase of 20.0%, with EBIT profit margin at 15.0%.
We have made substantial progress in the acquisition of Nagarro. We have acquired approximately 94.04% of its share capital and voting rights, excluding treasury shares. At the special general meeting of shareholders, we obtained approval for equity financing of up to $450 million, with the total ceiling for equity financing and borrowing amounting to $1.25 billion. The proposed transaction package is in line with our long-term mergers and acquisitions strategy, aimed at enhancing engineering capabilities, expanding geographical coverage, and increasing global delivery capacity. We thank our shareholders and financing partners for their trust, and we will continue to advance with the completion of the transaction.
Kalra also indicates that the company is continuously strengthening its AI capabilities through the 3C framework and the AI drive platform. The company focuses on building an 'enterprise context' within the customer environment, and continues to add value as cooperation progresses and models, platforms, and agents evolve over time.
The company expresses its gratitude for the continuous trust and support received from customers, partners, employees, and shareholders, and looks forward to continuing this momentum as it embarks on an important new chapter with Persistent.
The company stated that as of the quarter ending September 30, 2026, the total contract value of orders signed amounted to $633.5 million ( TCV ) and the annual contract value was $481 million ( ACV ).
Some important contracts this quarter include:
- Software, high-tech, and emerging industries: Accelerate the modernization of hosts and legacy systems of large-scale cloud service providers through the AI ecosystem of agents, cutting-edge models, and specialized certification Forward Deployed Engineers ( FDEs ) teams, driving cross-industry platform transformation.
- Software, high-tech, and emerging industries: By utilizing managed services, platform integration, and Customer driven by AI, a key Salesforce ecosystem has been restructured to transition from a stable phase to continuous delivery. This reorganization has also unified sales, services, and operations, serving a leading provider of storage and relocation services.
- Software, high technology, and emerging industries: Strengthening data and AI foundations to keep up with growth driven by mergers and acquisitions, addressing system fragmentation issues, accelerating brand integration, and AI-driven personalization to serve an emerging American beauty company.
- Banks, Financial Services, and Insurance: By migrating to a cloud-native insurance platform, a large legacy system that supports personal insurance policy management has been modernized, enabling more efficient pricing, cost reduction, and increased agility, serving a Fortune 500 insurance company in the United States.
- Banks, financial services, and insurance: Utilizing the AI intelligent entity to simplify the supervision of legacy branches and the financing operations of equipment, eliminating manual inefficiencies and data fragmentation, enhancing consistency, scalability, and compliance. At the same time, it allows bank employees to focus more on customers, serving a leading American bank.
- Banks, Financial Services, and Insurance: Automating and Simplifying Case Management through Agent AI to Streamline Complex and Time-Consuming Asset Transfers, Wire Transfers, and Estate Settlement Processes, Reduce Total Cost of Ownership, and Achieve Near-Real-Time Processing for a Large U.S. Financial Services Company
- Healthcare and Life Sciences: By integrating suppliers and leveraging AI, we unify the fragmented operations among ERP, infrastructure, and managed services, enhancing accountability and optimizing costs to serve a leading cancer center in the United States.
- Healthcare and Life Sciences: Undertaking End-to-End AI Enhanced Product Engineering and Strengthening Security to Address Scalability, Support Requirements, and Critical Personnel Dependencies, while Accelerating Product Release for a US-based Life Sciences Insights Platform Provider
- Healthcare and Life Sciences: Expanding Data and AI Capabilities through Governed Data Platforms and Agents AI, Solving Issues of Data Fragmentation and Insufficient Adoption AI, Providing Timely Insights to Caregivers, and Improving Nursing Outcomes for a U.S. Family Care Provider
Other news this quarter includes: Persistent acquiring a majority stake; Persistent shareholders voting in favor of the bid from Nagarro; the company winning five awards in ISG ( Information Services Group ) Provider Lens ™ Awards 2026; for the second consecutive year, it received the Annual Growth Honor in Everest Group Elevate 2026; winning an award in the Climate Action and Carbon Neutrality Leadership category in BW Sustainable World Awards 2026; its talent supply chain case was featured in a case study published by Harvard Business Influence titled ISB; being recognized as one of the best workplaces in the U.S. tech industry in Newsweek 2026; winning honors in seven categories in People Matters Infini - T Awards India 2026; and receiving gold and silver awards in Human Resources Leadership, Technology, Learning, and Performance Management in BW People HR Excellence Awards 2026.
About Persistent: Persistent ( BSE : 533179) ( NSE : PERSISTENT ) is a global services and solutions company that provides platform-based digital engineering and enterprise modernization services driven by AI to enterprises in various industries. The company has over 29,500 employees in 21 countries and is committed to innovation and customer success. Persistent offers comprehensive services including software engineering, product development, data and analytics, customer experience transformation, cloud computing, and business automation with agents. The company is part of the MSCI India index and is included in several major indices of the National Stock Exchange of India, such as the Nifty Midcap 50, Nifty IT, and Nifty MidCap Liquid 15, as well as the S& P BSE 100 and S& P BSE SENSEX Next 50 of the Bombay Stock Exchange. Persistent was also recognized by Newsweek and Plant A Insights Group as one of the best workplaces in the US technology sector for 2026. The company is also a constituent of the Dow Jones Best-in - Class World Index index. Persistent has achieved carbon neutrality, reflecting its commitment to sustainable development and responsible business practices. As a participant in the United Nations Global Compact, the company is committed to aligning its strategies and operations with the universal principles of human rights, labor, environment, and anti-corruption, and takes actions to promote social goals.With a year-on-year increase of 22% in brand value, Persistent was recognized as the fastest-growing IT service brand globally in the 2026 Brand Finance IT Services 25 report, making it one of the top 25 global IT service brands and ranking as the 12th strongest brand.
For information regarding the risks and uncertainties associated with forward-looking and cautionary statements, please visit persistent.com / FLCS.
