Persistent Systems Q1FY27 Revenue Rises 16.1% YoY to $452.4M; Signs Nagarro Deal
Persistent Systems reported Q1 FY27 revenue of $452.4 million, up 16.1% YoY, with an EBIT margin of 16.0%. The company secured a record TCV of $1.15 billion, including a $650M+ deal. A Business Combination Agreement was signed with Nagarro. Management emphasized AI and the 3C framework.
The revenue growth, record TCV, and the significant acquisition of Nagarro are material events that will likely have a substantial impact on the company's future performance and market position.
The company reported strong year-over-year revenue growth, record TCV bookings, and a significant strategic agreement with Nagarro. The management commentary highlights positive momentum in AI and client engagements.
Persistent Systems Limited announced its financial results for the quarter ended June 30, 2026, reporting a revenue of $452.4 million, a 16.1% increase year-over-year (YoY). The company's EBIT margin stood at 16.0% for the quarter.
During the quarter, Persistent Systems achieved a record quarterly Total Contract Value (TCV) of $1.15 billion, including a 6.5-year strategic services agreement with a leading global technology company valued at over $650 million. The company also signed a Business Combination Agreement with Nagarro, a European digital engineering firm, a move aimed at strengthening capabilities and expanding geographic footprint.
The management highlighted the growing enterprise focus on scaling AI and the company's investment in its 3C framework (Core, Context, Coordination) to help clients build intelligent enterprises. The company reported 25 sequential quarters of revenue growth, with a 3.8% quarter-over-quarter (QoQ) revenue increase to ₹43,032.3 million.
Financial highlights for Q1 FY27 include revenue of ₹43,032.3 million, up 29.1% YoY. EBIT stood at ₹6,868.8 million, a 32.7% YoY increase, and PAT was ₹4,830.4 million, a 13.7% YoY increase. The average exchange rate for the quarter was ₹95.1 per US dollar.
The company also provided TTM (Trailing Twelve Months) performance figures, with revenue at $1,717.1 million and EBIT margin at 16.8%. TCV bookings for the trailing twelve months were $3,030.7 million, and ACV bookings were $1,931.7 million.
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