Persistent Systems

Persistent Systems Limited is a leading IT services and consulting firm. The company is primarily engaged in designing and development of software systems and solutions. Persistent Systems caters to the telecom and wireless, infrastructure, life sciences and healthcare sectors. The company builds new applications and software systems for businesses.

Persistent Systems Limited operates as a Digital Engineer and Enterprise Modernisation partner for many businesses. The company assists clients in anticipating future developments and addressing the challenges proactively. It gives clients a competitive edge and empowers them to tap the new opportunities.

Persistent Systems Private Limited was established in May 1990. It was subsequently converted into a public limited entity. It was renamed as Persistent Systems Limited in September 2007.

The company initially started offering services to database-centric clients. Later it diversified into outsourced product development in the early 2000s. The company expanded to full product lifecycle between 2008 and 2016. Over the years the IT services firm has emerged as a strong player globally in the digital engineer segment. With the changing landscape of digital transformation for businesses the company has expanded into the enterprise customer segment in recent years.

Persistent Systems Limited launched its Initial Public Offering (IPO) in March 2010.

Persistent Systems Limited’s market capitalisation stood at nearly ₹58,600 crore as of January 16, 2024. Persistent share price has surged more than 367% in the last three years.

Business operations

Persistent Systems Limited is headquartered in Pune, Maharashtra, and its operations expand across India and abroad. It offers its products and services across 21 countries.

Persistent Systems Limited specialises in software products, services, and technology solutions. The company’s products and services encompass the end-to-end process of architecture, design, development, and maintenance of product life cycles.

Persistent Systems Limited provides design framework, technology advisory and consulting to scale its digital strategy services for businesses. Its services include cloud computing, data centre modernisation and application management. It offers enterprise IT and security services. The intelligent automation services of Persistent Systems Limited include business process management, robotics process automation, low code application development and conversational AI.

Persistent Systems Limited enables businesses to transform by using its data and analytics services like data and analytics advisory, data stack modernisation, machine learning, data connectors and certification, and data strategy.

The company offers software solutions like salesforce cloud implementation, CX strategy and platform integration and salesforce industry accelerators.

Persistent Systems Limited covers various industries like banking and financial services, healthcare, insurance and life sciences. It has become a leading player in the telecom and product lifecycle management domains.

The telecommunication API gateway enables partners and application developers to define, expose, control, and monetize telecom services. It provides the ‘Internet of Things’ service platform to businesses. It adds service layers or business logic to the basic APIs of connected devices.

Financial highlights

The company’s consolidated revenue from operations increased 46.23% year-on-year (YoY) to ₹8,350.59 crore in FY23 from ₹5,710.74 crore in FY22. Its EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased to ₹1,489.47 crores in FY23 from ₹958.17 crores in FY22, marking a 55.45% growth YoY. Consolidated profit after tax (PAT) grew 33.42% year-on-year to ₹921 crore in FY23 from ₹690.38 crore in FY22. Its earnings per share (EPS) stood at ₹123.73 in FY23 as against ₹90.34 in FY22.