Persistent Systems Achieves $452.4M Revenue in Q1 FY27, Reports 32.7% YoY EBIT Growth

Persistent Systems Achieves $452.4M Revenue in Q1 FY27, Reports 32.7% YoY EBIT Growth​

Persistent Systems announced its audited financial results for the quarter and year ended June 30, 2026. The company reported revenue of $452.4 million for Q1 FY27, marking a 3.8% quarter-over-quarter (QoQ) growth and a 16.1% year-on-year (YoY) increase.

The results were characterized by significant growth in earnings power and a record quarterly Total Contract Value (TCV).

Consolidated Financial Highlights for Q1 FY27​

Persistent Systems showcased strong performance across its key financial metrics:


*Note: QoQ decline in PBT and PAT is attributed to forex losses.

Management Commentary and Strategic Developments​

Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent, noted that the company marked its 25th sequential quarter of revenue growth for FY27. This performance was supported by a record quarterly Total Contract Value (TCV) of $1.15 billion, driven by sustained momentum in large client engagements.

A key strategic win mentioned is a 6.5-year strategic services agreement with a global technology company that carries a TCV exceeding $650 million.

Persistent also announced a Business Combination Agreement with Nagarro, a leading European digital engineering company listed on the Frankfurt Stock Exchange. This transaction aligns with the company's M&A strategy aimed at strengthening capabilities and expanding its geographic footprint and industry coverage.

In addressing enterprise demands for AI scaling, Kalra stated that clients need more than just models; they require an ability to create a unified Enterprise Context from business logic, data, and enterprise experience embedded across their organization. Persistent is investing in this capability via its 3C framework and AI-driven platforms to help clients build Intelligent Enterprises.

Client Wins and Order Booking Details​

The order booking for the quarter ended on June 30, 2026, totaled $1,146.2 million in Total Contract Value (TCV) and $536.8 million in Annual Contract Value (ACV).

Key client wins across different industry sectors include:

Software, Hi-Tech & Emerging Industries:

• Driving product development, support, and cloud operations using AI-led platforms for one of the world's largest IT companies' SaaS products.
• Advancing a global transport technology ecosystem through engineering transformation and scaled delivery capabilities for a leading global urban mobility platform provider.
• Accelerating enterprise transformation across Engineering, Support, IT, Data, and Customer functions for a leading cloud security company via global delivery modernization and AI adoption.

Banking, Financial Services & Insurance (BFSI):

• Modernizing the enterprise application landscape of over 250 applications while accelerating AI adoption and data modernization for a major global insurance claims management provider.
• Gen-AI-led reengineering of a trade ledger platform through legacy modernization for one of the world's leading multinational banks, strengthening operational control.
• Propelling cloud security transformation with AI-led implementation and data platform modernization for one of the largest U.S. banks, improving resilience and risk management.

Healthcare and Life Sciences:

• Transforming an enterprise ecosystem by consolidating 3,000 bots across 350 business-critical processes onto Microsoft Power Automate for a leading U.S.-based healthcare organization.
• Unifying Salesforce, SAP, and commercial operations into a standardized customer engagement ecosystem following a strategic acquisition for a leading U.S.-based genomics and life sciences company.
• Building a modern enterprise data platform on Snowflake, integrating clinical, claims, and operational systems to enable AI-driven decision-making for a leading U.S.-based providerled healthcare technology company.

Other Company Updates in Q1 FY27​

In addition to major client wins, Persistent reported several significant achievements during the quarter:

• The signing of a Business Combination Agreement with Nagarro to form the Persistent -Nagarro Group, targeting global leadership in AI-led digital engineering.
• A long-term strategic services agreement with a global technology leader valued at $650M+ TCV.
• Achieving Databricks specializations across multiple industry verticals and service lines.
• Announcing a strategic partnership with Kong to assist enterprises in moving AI into production securely.
• Being named a Leader in ISG Provider Lens Digital Engineering Services Midsize Providers Report 2026 (U.S. and Europe).
• Earning top honors for the third consecutive year in Extel's 2026 Asia Executive Team Survey.

PERSISTENT Stock Price Movement​

On Friday, Persistent Systems Limited shares edged higher to close at ₹5549 after gaining 0.35%. The stock saw robust activity during trading sessions, with a total volume of 1.47 million shares recorded.