CEO Sandeep Kalra attributed the performance to sustained demand for AI-driven transformation and enterprise modernization. The company maintained an EBIT margin of 15% while navigating a complex M&A cycle. To fund the Nagarro integration, shareholders approved an equity raise of up to $450 million, with total financing capacity capped at $1.25 billion. This acquisition is intended to diversify the company's geographic footprint and bolster its delivery infrastructure.
In section Releases
Persistent Systems Posts $487.6M Revenue Amid Nagarro Acquisition Push
Persistent Systems reported a 20% year-over-year revenue increase to $487.6 million for the second quarter of fiscal year 2027, marking its 26th consecutive quarter of growth. The milestone coincides with the company securing a 94.04% majority stake in Nagarro as part of a broader strategy to scale its global engineering capacity.
Operational momentum remained robust, with the company recording $633.5 million in Total Contract Value during the quarter. Client wins spanned sectors including healthcare, banking, and hi-tech, often centered on migrating legacy systems to cloud-native platforms and deploying agentic AI to automate workflows. Beyond financials, Persistent received multiple industry accolades, including the Growth Honor of the Year at the Everest Group Elevate 2026 awards and recognition for its human resources and sustainability initiatives.
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