PERSISTENT

Fundamental Analysis

is a global digital engineering and IT services company offering end-to-end solutions in product engineering, cloud modernization, AI, data analytics, and intelligent automation. It serves clients across industries such as BFSI, healthcare, life sciences, and software & hi-tech, with specialized offerings like cloud banking, claims management, and mobile healthcare solutions. The company has been recognized as one of the fastest-growing Indian IT services brands, with strong partnerships with major platforms such as Salesforce, AWS, Microsoft, and Google Cloud. As of Q3FY24, its key revenue segments include Software & Hi-Tech (47%), BFSI (31%), and Healthcare & Life Sciences (22%). The company derives 80% of its revenue from North America and has over 375 clients globally, including several top players in banking, pharma, and technology. Its top client concentration has been reducing steadily, with the top 1 client contributing 9% to revenues, down from 16% in FY22. Persistent reported an Annual Contract Value (ACV) of $392.1 Mn in Q3FY24, and a trailing twelve-month ACV of $1,290.3 Mn. The company operates in 21+ countries and has 29 subsidiaries. It continues to invest in infrastructure, certifications (15,500+), and leadership, with the recent appointment of Dr. Ajit Ranade as an Independent Director.