Latest news with #Persistent
Korea Herald
19 hours ago
- Business
- Korea Herald
Persistent Achieves Top Rankings for the Second Year in a Row in Extel's Asia Executive Team Survey
Recognized under multiple categories, including Best CEO, Company Board of Directors, Overall ESG, Best Investor Relations Program, and Best Investor Relations team SANTA CLARA, Calif. and PUNE, India, June 5, 2025 /PRNewswire/ -- Persistent Systems (BSE: 533179) (NSE: PERSISTENT), a global leader in Digital Engineering and Enterprise Modernization, has been acknowledged as a 'Most Honored Company' in the prestigious 2025 Asia (ex-Mainland China) Executive Team survey of the highly regarded buy-side and sell-side portfolio managers and research analysts conducted by Extel (formerly known as Institutional Investor Research). Persistent has been recognized across multiple categories and improved its overall weighted score from 7 last year to 24 this year, demonstrating excellence in executive leadership, investor relations, corporate governance, and ESG practices. Among combined (buy-side and sell-side) analyst rankings, prominent positions include: Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent "We are proud to be recognized once again by Extel, and I am grateful to the portfolio managers and analysts who rated us so highly in the survey. This year's rankings reflect a significant improvement from last year, underscoring our continued focus on delivering best-in-class outcomes for all our stakeholders. Thank you to the Persistent team for their dedication to upholding the highest standards of governance, communication, and performance. We will continue to engage meaningfully with the investment analyst community, sharing our progress and priorities with the same credibility, consistency, and accountability that have defined our approach." The Extel Executive Team surveys are a trusted benchmark for buy-side and sell-side professionals to evaluate corporate performance across leadership, governance, and investor relations. Known for its independent, proprietary research and rankings, this year, Extel's survey saw participation from over 6,300 portfolio managers, investors, and analysts evaluating companies across 18 sectors. The leading positions across multiple categories highlight Persistent's strong executive leadership, clear and consistent communication, and disciplined capital allocation. The recognition also reflects the Company's proactive investor engagement, credibility of its investor relations team, quality, granularity and transparency of disclosures, and thoughtful approach to ESG strategy and stakeholder engagement, reinforcing its commitment to long-term value creation and governance excellence. Persistent had also earned top rankings in the 2024 edition of the survey. About Persistent Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 24,500 employees located in 19 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including AI-enabled software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company is part of the MSCI India Index and is included in key indices of the National Stock Exchange of India, including the Nifty Midcap 50, Nifty IT, and Nifty MidCap Liquid 15 as well as several on the BSE such as the S&P BSE 100 and S&P BSE SENSEX Next 50. Persistent is also a constituent of the Dow Jones Sustainability World Index. The Company has achieved carbon neutrality, reinforcing its commitment to sustainability and responsible business practices. As a participant of the United Nations Global Compact, Persistent is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 327% growth in brand value since 2020, Persistent is the fastest-growing IT services brand in the 2024 Brand Finance India 100 Report.
Mint
27-05-2025
- Business
- Mint
Stocks to buy for long term: Pankaj Pandey of ICICI Securities picks Persistent, SBI, DLF and more
Stocks to buy for the long term: The Indian stock market benchmark Nifty 50 looks set to extend its winning run to the third consecutive month. After a 6.30 per cent rise in March and a gain of 3.46 per cent in April, the Nifty 50 is up 2.74 per cent in May till the 26th. Favourable macro, healthy retail buying and largely stable Q4 earnings have kept the market up despite persisting concerns over Trump's tariffs and their impact on the global economy. The Indian stock market could remain on a strong footing in the medium term due to a bright growth outlook, expectations of a healthy monsoon, easing inflation and a strong influx of retail investors. However, experts warn that the valuations look a bit on the higher side, which could trigger consolidation. They suggest buying quality stocks at the current juncture, which are available across segments. Pankaj Pandey, the head of research at ICICI Securities, has picked five stocks to buy for the next one to two years. Take a look: Persistent offers cloud, data, product, and design-led services to BFSI, healthcare and hi-tech verticals. It continues to demonstrate industry-leading growth, supported by a robust TCV (total contract value) of $2.1 billion in FY25. 'We expect dollar revenue and earnings to grow at a CAGR of 18.4 per cent and nearly 27.2 per cent over FY25–27E, backed by resilient deal wins (annual contract value of $1.5 billion), margin stability, diversified revenue mix across verticals and no deal cancellations despite a challenging macro backdrop,' said Pandey. Despite higher investments in S&M (service management), margin expansion of 200–300 bps is targeted in the medium term, supported by operational efficiency. The management has reaffirmed a revenue target of nearly $2 billion by FY27 and an ambitious FY31 revenue target of $5 billion, likely incorporating an inorganic growth component, implying a nearly 23.5 per cent CAGR over FY25-31. SBI remains well-positioned to deliver steady growth, backed by a strong corporate pipeline and revival in momentum of personal loan disbursements, while secured retail and MSME segments remain healthy. Easing liquidity, coupled with a CD (credit-deposit) ratio at 69.7 per cent and a prudent deposit repricing strategy, is expected to support credit expansion without straining funding costs. The bank's diversified loan mix—anchored by a high share of fixed and MCLR-linked loans at nearly 70 per cent — provides a cushion against margin headwinds in the ongoing rate cut cycle. 'Despite some near-term NIM (net interest margin) pressure, earnings resilience is likely to hold, aided by treasury gains and stable operational efficiency,' said Pandey. 'Asset quality remains a key strength, supported by sustained control over slippages and steady recoveries and write-offs. Management's focus on revival in Xpress Credit is also poised to aid yields, further strengthening the overall outlook,' Pandey said. For FY26, DLF is targeting ₹ 20,000-22,000 crore of presales. It has a strong medium-term launch pipeline of ₹ 95,196 crore ( ₹ 21,256 crore unsold launched inventory), which should aid in maintaining healthy pre-sales bookings over the next three to four years. On the rental portfolio, it will be developing nearly 28 msf, of which nearly 6.2 msf is expected to be completed in FY26 with exit rental income of ₹ 6,700 crore. It eyes annuity rental income of over ₹ 10,000 crore by FY30 (including 100 per cent of JVs share in DCCDL and Atrium place). It has earmarked ₹ 5,000 crore capex per annum for FY26 and FY27. 'We believe the scale-up in its annuity portfolio would provide a consistent revenue stream amidst cyclicality in residential business by nature,' said Pandey. Marico is transforming its business model from low-margin hair oil and edible oil to premium foods and personal care business, which will provide a strong margin lever in the long run. The company has delivered 6-7 per cent volume in the domestic business, high compared to large FMCG players, on the back of strong 20 per cent growth in the foods business and personal care business (nearly 22 per cent of India business). 'Gradual recovery in the sales volume of the core products (Parachute, Saffola edible oil and value-added products) and sustained strong growth of 20 per cent+ in premium businesses coupled with moderation in input cost inflation will help the company to clock 16 per cent earnings growth over FY23-25E, expected to be better compared to large companies,' said Pandey. Gland Pharma is one of the largest generic injectable-focused B2B companies, with a global footprint across 60 countries. Gland's in-house complex injectable pipeline includes 19 products with a US market opportunity of $6.5 billion (Filed 9 ANDAs and launched 6 products from this portfolio). The French CDMO, Cenexi, grew despite a machinery breakdown in a Fontenay plant as the Belgium plant has returned to normal levels of production. 'We believe turnaround in this business is around the corner. This, along with In-licensing deals for GLP 1 contracts for the Gland base business, could provide significant traction in FY26/FY27,' said Pandey. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary. First Published: 27 May 2025, 08:56 AM IST
The Print
12-05-2025
- Politics
- The Print
Pakistan-allied hackers launched 15 lakh cyber attacks on Indian websites; only 150 successful
Even after India and Pakistan reached an understanding to stop military hostilities, Indian government websites are facing a barrage of cyber attacks from the neighbouring country as well as from Bangladesh and the Middle Eastern region, they said. Of these, only 150 attacks were successful, officials said on Monday. Mumbai, May 12 (PTI) Maharashtra Cyber has identified seven Advanced Persistent Threat (APT) groups responsible for launching over 15 lakh cyber attacks targeting critical infrastructure websites across India following the Pahalgam terror strike. Addressing reporters, a senior official of Maharashtra Cyber debunked claims of hackers stealing data from Chhatrapati Shivaji Maharaj International Airport in Mumbai, hacking aviation and municipal systems, and targeting the Election Commission website. 'The probe discovered that cyber attacks on (government websites in) India decreased after India-Pakistan ceased hostilities, but not fully stopped. These attacks continue from Pakistan, Bangladesh, Indonesia, Morocco, and Middle Eastern countries,' he said. In a report titled 'Road of Sindoor', prepared under the military operation launched by the Indian armed forces under the same name against terrorists, the state's nodal cyber agency has detailed the cyber warfare launched by Pakistan-allied hacking groups. The report has been submitted to all key law enforcement agencies, including the Director General of Police and the State Intelligence Department. According to the report, these cyber attacks originated from Bangladesh, Pakistan, the Middle East, and an Indonesian group, said Yashasvi Yadav, Additional Director General of Police, Maharashtra Cyber. The methods used included malware campaigns, Distributed Denial-of-Service (DDoS) attacks, and GPS spoofing. Defacement of Indian websites was also reported. Many such attacks were thwarted and critical infrastructure of India was saved, he said. 'Road of Sindoor' is a follow-up to Maharashtra Cyber's earlier report 'Echoes of Pahalgam', which documented cyber attacks following the Pahalgam terror incident. The seven hacking groups identified in the report are: APT 36 (Pakistan-based), Pakistan Cyber Force, Team Insane PK, Mysterious Bangladesh, Indo Hacks Sec, Cyber Group HOAX 1337, and National Cyber Crew (Pakistan-allied). These groups collectively launched approximately 1.5 million targeted cyber attacks on Indian infrastructure, Yadav said. Among the 150 successful attacks, the Kulgaon Badlapur Municipal Council website was defaced. The attackers also claimed to have stolen data from Chhatrapati Shivaji Maharaj International Airport (CSMIA), as well as from telecom companies, with some of the data allegedly appearing on the darknet. Additionally, the website of the Defence Nursing College in Jalandhar was defaced. The report also highlights a hybrid warfare strategy by Pakistan-allied groups that includes widespread misinformation campaigns. These groups falsely claimed to have hacked India's banking system and caused power outages. Maharashtra Cyber identified and removed over 5,000 instances of misinformation and fake news related to India-Pakistan military conflicts that were circulating on social media. Of 80 specific misinformation cases flagged for take-down, 35 have been removed so far, with the remaining 45 pending action. These false narratives included claims of cyber attacks on India's power grid, statewide blackouts, satellite jamming, disruption of the Northern Command, and an alleged attack on a BrahMos missile storage facility, Yadav said. Maharashtra Cyber has urged citizens not to believe in or spread misinformation and to verify news through trusted and official sources, he said. PTI ZA DC NSK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Mint
06-05-2025
- Business
- Mint
Top Indian IT companies report first-ever revenue decline since 2020. What awaits investors in Q1?
Indian domestic technology companies reported another soft performance in the March quarter, led by select cases of delays in project ramp-ups and a cautious spending stance adopted by a few verticals in the run-up to the reciprocal tariff announcement. Companies also remained cautious that growth would be a challenge in the coming quarters amid potential headwinds in developed economies. All large IT services companies reported a sequential revenue decline in constant currency terms in Q4FY25 — a first since the June 2020 quarter, said domestic brokerage firm Kotak Institutional Equities in its latest report. According to the brokerage, the decline was sharp in manufacturing and retail verticals, while revenues from the financial services vertical held up well. It stated that revenue growth slowed on a year-on-year basis across companies, falling to low single digits. Headcounts increased across firms, indicating they were building up capacity for growth but faced a deterioration in demand toward the latter half of the quarter. On the margins front, the brokerage said all large IT companies, except TCS, reported a year-on-year increase in EBIT margin and stable margins on a quarter-on-quarter basis. A combination of rupee depreciation, aggressive expense management, and potential adjustments in variable compensation helped. Select companies also reported an increase in realisation. While large companies struggled during the quarter, mid-tier companies such as Persistent reported strong performance in the March quarter. Mphasis also delivered good revenue numbers, prompting the brokerage to expect the mid-tier pack to outperform larger companies on growth, driven by a favourable revenue mix and lesser concern over deflationary risks from new technologies. Retail, consumer, logistics, travel, and manufacturing verticals are the most impacted due to tariff imposition by the US government and are highly vulnerable to project delays, cancellations, and cuts to discretionary spending, the brokerage noted. The spending outlook is mixed across telecom, hi-tech, and healthcare. Clients continue to adopt a cautious stance, partly due to higher macro uncertainties. It is reasonable to expect a slowdown in decision-making and revenue pressure in these verticals. BFSI and Energy & Utilities (E&U) continue to have a healthy demand outlook. The brokerage expects firms with higher exposure to manufacturing and retail verticals, discretionary spending, and the US market to face stronger headwinds as demand slows down. According to Kotak, tech companies are entering a tough phase where margin expansion will be difficult, and the only options left are cutting employee compensation or deferring raises/bonuses, as most other levers have already been exhausted. The brokerage said that Q1FY26 is seasonally strong for IT services companies. A weak Q1 will be difficult to offset unless there is a ramp-up in cost take-out deals. The outlook for the June quarter is mixed. Wipro indicated an impact on sequential revenue growth due to higher macro uncertainties. However, the outlook from Capgemini and Cognizant indicates no significant deterioration in expected growth in Q1 compared to the start-of-year expectations. Kotak also observed that although recent deal wins have been driven by cost-saving priorities, mega deals remain rare, and uncertainties could delay large deal conversions despite a strong pipeline at firms like HCL Tech and LTIMindtree. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions. First Published: 6 May 2025, 12:37 PM IST
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Business Standard
24-04-2025
- Business
- Business Standard
Persistent Systems Q4 results: Profit rises 25% to ₹396 cr on strong growth
Mid-tier IT company Persistent Systems on Thursday posted a 25 per cent jump in March quarter profit to Rs 395.76 crore. The Pune-headquartered company reported a net profit of Rs 315.32 crore in the year-ago period. Its revenues grew 25.2 per cent to Rs 3,242 crore from Rs 2,591 crore in the year-ago period, while operating profit margin expanded to 15.6 per cent from 14.5 per cent in the year-ago period. Its Chief Financial Officer Vinit Teredesai said the margins will further expand up to 2 percentage points in FY26. Speaking to PTI, he also added that the company is maintaining its aspiration of getting USD 2 billion in revenues by FY26, as against USD 1.4 billion in FY25 despite the ongoing uncertainties. He said it is very difficult to predict the exact outcome for the company from the shift in trade policies, and added that deal signings have become sluggish as customers adopt a cautious stance. The company's new deal signings declined to USD 517.5 million in the reporting quarter, down from USD 594 million. Teredesai said the deal pipeline continues to be strong, even as clients are in a wait-and-watch mode. On its fresher hiring target for the new fiscal year, the CFO declined to give any number and pointed out that the company has a bias towards hiring experienced staff, given the kind of work it undertakes. He said the labour supply situation in the market has become conducive, which allows it to hire talent as required. The company added 700 employees to take its overall strength to 24,594, and Teredesai said it will continue to keep the utilisation at an elevated 88 per cent levels going forward. The Persistent scrip was trading marginally down at Rs 5,139.5 on the BSE, down 0.45 per cent from its previous close. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
