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Economic Times
20-05-2025
- Business
- Economic Times
Mid-tier firms poised to win large AI market share: Sonata Software CEO Samir Dhir
There is 'fatigue' with the large-cap software services vendors and mid-tier companies are emerging as an alternative for clients to accelerate modernisation and artificial intelligence (AI) projects, said Samir Dhir, chief executive officer of Sonata Software, which focuses on modernisation engineering. ADVERTISEMENT 'Many of these generation-1 companies have long-running annuity contracts, and AI, at the heart of it, is going to disrupt some of those manual-intensive contracts,' Dhir told ET. 'Over the next two to five years' time, we can take a large chunk of the market away from this competition.' Several recent wins have come against the tier-1 providers, who now face the challenge of defending their legacy revenue streams, he said. The Bengaluru-headquartered, mid-tier, $1-billion company's strategy involves revenue cannibalisation and going after low-end manual work, with a focus on automation with new-age technology like agentic AI, said Dhir. Sonata Software on Tuesday introduced an agentic AI platform for customers to centrally design, deploy and govern intelligent and industry-specific AI agents to automate tasks in areas like healthcare, BFSI (banking, financial services and insurance), retail, and manufacturing. Further, despite macroeconomic uncertainties, clients are doubling down to 'sweat every dollar to modernise faster', Dhir said, as business imperatives haven't changed from a differentiation or customer retention perspective. ADVERTISEMENT While the outlook from banking and healthcare clients is positive, the retail segment is still cautious and waiting for more certainty before taking big decisions, he recent quarters, mid-tier companies have been bagging big deals and generally outperforming larger peers despite a bad macroeconomic environment. ADVERTISEMENT These players benefit from greater speed and agility and are hungrier, said Dhir, who expects the existing pecking order of the IT industry to be disrupted by a few such midcap firms in the coming 45% of Sonata's active pipeline comprises large deals. In FY25, its revenue grew by about 18% to Rs 10,157.2 crore. It won two large deals in Q4, with a 2.4% increase in PAT, although revenue fell by 7.9% quarter-on-quarter. ADVERTISEMENT Sonata's strategy for the past few years has been to dilute its Ebitda by about 2% to invest back into verticalising the business, as well as building capabilities in technologies like AI. The company expects 20% of its business to be in AI in three years, from about 4-5% now. When it comes to enterprise adoption of AI, Dhir said the company is still seeing progress in 'bits and bytes', rather than at a large scale. A turning point can come at any time, he said, adding that the company is focusing on being ready to capitalise on it.
Time of India
20-05-2025
- Business
- Time of India
Mid-tier firms poised to win large AI market share: Sonata Software CEO Samir Dhar
Sonata Software's CEO, Samir Dhir, highlights the growing fatigue with large-cap software vendors, positioning mid-tier companies as agile alternatives for AI and modernisation projects. Sonata is targeting legacy revenue streams of tier-1 providers by focusing on automation and agentic AI, aiming for 20% of its business to be AI-driven in three years. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads There is 'fatigue' with the large-cap software services vendors and mid-tier companies are emerging as an alternative for clients to accelerate modernisation and artificial intelligence (AI) projects, said Samir Dhir, chief executive officer of Sonata Software , which focuses on modernisation engineering 'Many of these generation-1 companies have long-running annuity contracts, and AI, at the heart of it, is going to disrupt some of those manual-intensive contracts,' Dhir told ET. 'Over the next two to five years' time, we can take a large chunk of the market away from this competition.'Several recent wins have come against the tier-1 providers, who now face the challenge of defending their legacy revenue streams, he Bengaluru-headquartered, mid-tier, $1-billion company's strategy involves revenue cannibalisation and going after low-end manual work, with a focus on automation with new-age technology like agentic AI , said Dhir. Sonata Software on Tuesday introduced an agentic AI platform for customers to centrally design, deploy and govern intelligent and industry-specific AI agents to automate tasks in areas like healthcare, BFSI (banking, financial services and insurance), retail, and despite macroeconomic uncertainties, clients are doubling down to 'sweat every dollar to modernise faster', Dhir said, as business imperatives haven't changed from a differentiation or customer retention the outlook from banking and healthcare clients is positive, the retail segment is still cautious and waiting for more certainty before taking big decisions, he recent quarters, mid-tier companies have been bagging big deals and generally outperforming larger peers despite a bad macroeconomic players benefit from greater speed and agility and are hungrier, said Dhir, who expects the existing pecking order of the IT industry to be disrupted by a few such midcap firms in the coming 45% of Sonata's active pipeline comprises large deals. In FY25, its revenue grew by about 18% to Rs 10,157.2 crore. It won two large deals in Q4, with a 2.4% increase in PAT, although revenue fell by 7.9% strategy for the past few years has been to dilute its Ebitda by about 2% to invest back into verticalising the business, as well as building capabilities in technologies like AI. The company expects 20% of its business to be in AI in three years, from about 4-5% it comes to enterprise adoption of AI , Dhir said the company is still seeing progress in 'bits and bytes', rather than at a large scale. A turning point can come at any time, he said, adding that the company is focusing on being ready to capitalise on it.
Time of India
12-05-2025
- Business
- Time of India
Sonata Software inaugurates new Hyderabad facility; plans to add 5,000 jobs
IT services company Sonata Software , on Monday, unveiled a new facility in Hyderabad's Financial District, an expansion of its global delivery footprint. #Operation Sindoor The damage done at Pak bases as India strikes to avenge Pahalgam Why Pakistan pleaded to end hostilities Kashmir's Pahalgam sparks Karachi's nightmare Spread across 200,000 square feet at the Vamsiram Suvarna Durga Tech Park , the new centre is expected to generate over 5,000 technology jobs in the next three to five years, the company said. Samir Dhir, managing director and CEO of Sonata Software , called the facility a 'major step forward' in the company's growth journey. 'Hyderabad's strong ecosystem and global reputation for innovation make it the perfect location for building AI-led digital solutions at scale. This centre will help us attract top-tier talent, deepen client collaboration, and deliver value-driven outcomes faster,' he said. The facility will also serve as a hub for Sonata's subsidiary, Quant Systems Inc. 'It will be instrumental in delivering AI, machine learning, and cloud modernisation solutions to global clients,' said Srini Veeravelli, CEO of Quant Systems. 'This not only enhances delivery capabilities but enables scalable GCC models and fosters a culture of continuous innovation.' Headquartered in Bengaluru, Sonata Software has a global presence across North America, the UK, Europe, APAC, and Australia and New Zealand. Live Events
Business Upturn
12-05-2025
- Business
- Business Upturn
Sonata Software Unveils New State-of-the-Art Facility in Hyderabad; Aims to Create 5,000 Jobs
HYDERABAD, India , May 12, 2025 /PRNewswire/ — Sonata Software (NSE: SONATSOFTW) (BSE: 532221), a leader in Modernization Engineering, today announced the opening of its new facility in Hyderabad . The facility was formally opened by the Honorable Chief Minister of Telangana, Shri Anumula Revanth Reddy. Spread across 200,000 square feet in the Vamsiram Suvarna Durga Tech Park in Hyderabad's Financial District, the new center is designed to fuel innovation, scale global delivery, and nurture next-generation digital talent. This strategic expansion reinforces Sonata Software's deep commitment to delivering future-ready technology solutions and strengthening its global delivery footprint. Over the next three to five years, the facility is expected to generate more than 5,000 high-value technology jobs and serve as a key hub for digital engineering, co-innovation, and advanced technology development. Speaking at the event, Honorable Chief Minister, Shri Anumula Revanth Reddy, said, 'Sonata Software's new Hyderabad facility is a testament to the partnership between visionary enterprises and progressive governance. Telangana remains steadfast in fostering a business-friendly ecosystem for technology companies. We are proud to see global firms like Sonata expanding from here and contributing to Hyderabad's position as a premier global tech hub.' Samir Dhir , Managing Director and CEO of Sonata Software, noted, 'This new center marks a major step forward in our growth journey. Hyderabad's strong ecosystem and global reputation for innovation make it the perfect location for building AI-led digital solutions at scale. The facility will enable us to attract top-tier talent, drive deeper client collaboration, and accelerate delivery of value-driven outcomes for our clients.' Equipped with modern collaboration zones, innovation labs, and green infrastructure, the facility reflects Sonata's commitment to responsible growth, sustainability, and engineering excellence. Its flexible design supports agile operations, secure service delivery, and rapid scaling of digital capabilities. Srini Veeravelli , CEO of Quant Systems Inc, a Sonata Software company, added, 'This facility will be instrumental in delivering AI, machine learning, and cloud modernization solutions to global clients. It not only enhances our delivery capabilities but also enables scalable GCC models and fosters a culture of continuous innovation across the enterprise.' With a strong global presence—including key regions in North America , the UK, Europe , APAC, and ANZ—and a robust partner ecosystem, Sonata Software continues to be a trusted transformation partner for global enterprises. The Hyderabad facility marks a new chapter in Sonata's mission to engineer purposeful digital excellence at scale. About Sonata Software In today's market, there is a unique duality in technology adoption. On one side, extreme focus on cost containment by clients, and on the other, deep motivation to modernize their Digital storefronts to attract more consumers and B2B customers. Sonata Software, with $1 Billion Revenue, is the leading Modernization company. Our unique Modernization approach through helps create Efficient and Agile digital businesses to drive intelligent ecosystems of the future. Our bouquet of Modernization Engineering Services cuts across Data, Cloud, Dynamics, Automation, Cyber Security, and around newer technologies like Generative AI, Microsoft Fabric, and other modernization platforms. Our unique and innovative Responsible-first AI offering Sonata is a comprehensive platform powered by GenAI and encompasses a variety of industry solutions, service delivery platforms, and accelerators. It is distinguished by its embedded ethics, privacy, security, and compliance. We enable our clients to leverage AI in three different ways: i) driving efficiencies, ii) driving higher consumer experience/modern sales, and iii) driving innovative business models. Headquartered in Bengaluru, India , Sonata Software has a strong global presence, including key regions North America , UK, Europe , APAC, and ANZ. We are one of the fastest growing IT Services companies and a trusted partner of Fortune 500 companies in Banking, Financial Services and Insurance (BFSI); Healthcare and Lifesciences (HLS); Telecom, Media, and Technology (TMT); and Retail, Manufacturing and Distribution (RMD) space. Sonata Software boasts of a very strong partnership with Microsoft, AWS and many others. We are proud member of Microsoft AI Partner Council and have also achieved AWS Generative AI Competency. Also, we are member of the prestigious Inner Circle for Microsoft Business Applications and Featured and Launch Partner for Microsoft Fabric. For more information, please visit Photo: View original content: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
12-05-2025
- Business
- Yahoo
Sonata Software Unveils New State-of-the-Art Facility in Hyderabad; Aims to Create 5,000 Jobs
HYDERABAD, India, May 12, 2025 /PRNewswire/ -- Sonata Software (NSE: SONATSOFTW) (BSE: 532221), a leader in Modernization Engineering, today announced the opening of its new facility in Hyderabad. The facility was formally opened by the Honorable Chief Minister of Telangana, Shri Anumula Revanth Reddy. Spread across 200,000 square feet in the Vamsiram Suvarna Durga Tech Park in Hyderabad's Financial District, the new center is designed to fuel innovation, scale global delivery, and nurture next-generation digital talent. This strategic expansion reinforces Sonata Software's deep commitment to delivering future-ready technology solutions and strengthening its global delivery footprint. Over the next three to five years, the facility is expected to generate more than 5,000 high-value technology jobs and serve as a key hub for digital engineering, co-innovation, and advanced technology development. Speaking at the event, Honorable Chief Minister, Shri Anumula Revanth Reddy, said, "Sonata Software's new Hyderabad facility is a testament to the partnership between visionary enterprises and progressive governance. Telangana remains steadfast in fostering a business-friendly ecosystem for technology companies. We are proud to see global firms like Sonata expanding from here and contributing to Hyderabad's position as a premier global tech hub." Samir Dhir, Managing Director and CEO of Sonata Software, noted, "This new center marks a major step forward in our growth journey. Hyderabad's strong ecosystem and global reputation for innovation make it the perfect location for building AI-led digital solutions at scale. The facility will enable us to attract top-tier talent, drive deeper client collaboration, and accelerate delivery of value-driven outcomes for our clients." Equipped with modern collaboration zones, innovation labs, and green infrastructure, the facility reflects Sonata's commitment to responsible growth, sustainability, and engineering excellence. Its flexible design supports agile operations, secure service delivery, and rapid scaling of digital capabilities. Srini Veeravelli, CEO of Quant Systems Inc, a Sonata Software company, added, "This facility will be instrumental in delivering AI, machine learning, and cloud modernization solutions to global clients. It not only enhances our delivery capabilities but also enables scalable GCC models and fosters a culture of continuous innovation across the enterprise." With a strong global presence—including key regions in North America, the UK, Europe, APAC, and ANZ—and a robust partner ecosystem, Sonata Software continues to be a trusted transformation partner for global enterprises. The Hyderabad facility marks a new chapter in Sonata's mission to engineer purposeful digital excellence at scale. About Sonata Software In today's market, there is a unique duality in technology adoption. On one side, extreme focus on cost containment by clients, and on the other, deep motivation to modernize their Digital storefronts to attract more consumers and B2B customers. Sonata Software, with $1 Billion Revenue, is the leading Modernization company. Our unique Modernization approach through helps create Efficient and Agile digital businesses to drive intelligent ecosystems of the future. Our bouquet of Modernization Engineering Services cuts across Data, Cloud, Dynamics, Automation, Cyber Security, and around newer technologies like Generative AI, Microsoft Fabric, and other modernization platforms. Our unique and innovative Responsible-first AI offering Sonata is a comprehensive platform powered by GenAI and encompasses a variety of industry solutions, service delivery platforms, and accelerators. It is distinguished by its embedded ethics, privacy, security, and compliance. We enable our clients to leverage AI in three different ways: i) driving efficiencies, ii) driving higher consumer experience/modern sales, and iii) driving innovative business models. Headquartered in Bengaluru, India, Sonata Software has a strong global presence, including key regions North America, UK, Europe, APAC, and ANZ. We are one of the fastest growing IT Services companies and a trusted partner of Fortune 500 companies in Banking, Financial Services and Insurance (BFSI); Healthcare and Lifesciences (HLS); Telecom, Media, and Technology (TMT); and Retail, Manufacturing and Distribution (RMD) space. Sonata Software boasts of a very strong partnership with Microsoft, AWS and many others. We are proud member of Microsoft AI Partner Council and have also achieved AWS Generative AI Competency. Also, we are member of the prestigious Inner Circle for Microsoft Business Applications and Featured and Launch Partner for Microsoft Fabric. For more information, please visit Photo: View original content to download multimedia: SOURCE Sonata Software Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
