Persistent Systems Q1 FY27 Revenue at $452.4M, Up 16.1% YoY; TCV Hits $1.15B
Persistent Systems reported Q1 FY27 revenue of $452.4 million, a 16.1% YoY increase. The company achieved a record quarterly TCV of $1.15 billion, including a $650M+ strategic services agreement. Persistent also signed a Business Combination Agreement with Nagarro, aiming to create a global leader in AI-led digital engineering.
The strong financial results, record TCV, and the strategic acquisition agreement with Nagarro are significant developments that are likely to have a substantial impact on the company's market position and future growth trajectory.
The company reported strong year-over-year revenue growth, record TCV, and a significant strategic partnership, indicating positive business momentum and future growth potential.
Persistent Systems announced its audited financial results for the quarter and year ended June 30, 2026, with consolidated revenue reaching $452.4 million, marking a 16.1% year-over-year growth and a 3.8% sequential increase. The company reported an EBIT margin of 16.0% and a record quarterly Total Contract Value (TCV) of $1.15 billion. This includes a strategic services agreement with a global technology company valued at over $650 million.
The company also entered into a Business Combination Agreement with Nagarro, a European digital engineering company, to form the Persistent – Nagarro Group. This move is intended to strengthen capabilities and expand geographic footprint and industry coverage.
Persistent highlighted its continued investment in AI capabilities through its 3C framework, aiming to help clients build more intelligent enterprises. The company secured key wins across various industries, including software, hi-tech, banking, financial services, insurance, and healthcare, focusing on areas like product development, cloud operations, enterprise transformation, AI adoption, and data modernization.
Other significant developments during the quarter include a strategic partnership with Kong to help enterprises securely deploy AI into production, recognition as a Leader in the ISG Provider Lens® Digital Engineering Services Report, and top honors in Extel’s 2025 Asia Executive Team Survey.
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