Happiest Minds Q3 FY26 Revenue at ₹587.6 Crore, Up 10.7% YoY
Happiest Minds reported Q3 FY26 revenue of ₹587.6 crore, up 10.7% YoY. For nine months FY26, revenue grew 12.8% YoY to ₹1,711 crore. EBITDA margin was 20.4% for Q3 and 20.6% for nine months. The company plans to invest in AI/GenAI and build a 1,000+ team by FY27.
The financial results show steady growth and operational improvements. The strategic direction and future investments in AI are significant but will take time to fully materialize in terms of market impact.
The company reported healthy year-on-year growth in revenue and maintained strong EBITDA margins. The strategic focus on AI First and plans for further investment indicate a positive outlook.
Happiest Minds Technologies Limited announced its financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved the unaudited financial statements on February 09, 2026.
For the third quarter of FY26, the company reported total income of ₹60,328 lakhs (₹603.28 crore), an increase of 8.9% year-on-year. Revenues stood at ₹58,756 lakhs (₹587.56 crore), growing by 10.7% year-on-year. EBITDA for the quarter was ₹12,283 lakhs (₹122.83 crore), representing a margin of 20.4% of total income. Operating margin improved to 17.4%, up 40 basis points sequentially. Adjusted PAT for the quarter was ₹6,992 lakhs (₹69.92 crore), with an Adjusted EPS of ₹4.64.
For the nine months ended December 31, 2025, the company achieved revenues of ₹1,71,103 lakhs (₹1,711.03 crore), a year-on-year growth of 12.8%. Constant-currency revenue growth for the nine months was 10.2%. EBITDA for the nine-month period was ₹36,716 lakhs (₹367.16 crore), with a margin of 20.6%. Adjusted PAT for the nine months was ₹20,728 lakhs (₹207.28 crore), and Adjusted EPS stood at ₹13.77.
The company highlighted its AI First strategy, with 32 Generative AI & Agentic AI use cases moving beyond prototypes. Key project wins include using GenAI for vendor monitoring for a Global FMCG leader, defining an AI roadmap for a US insurance provider, and conducting an AI solution assessment for a global life sciences partner.
Operationally, employee utilization increased to 82.0%, and trailing twelve-month attrition remained stable at 17.4%. The company plans to double down on AI/GenAI investments and build a dedicated 1,000+ team by the end of FY27. Management reiterated its focus on sustaining double-digit constant-currency growth and maintaining EBITDA margins in the 20–22% range.
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