Persistent Systems Ltd reported a 13.7% year-on-year (YoY) increase in consolidated profit after tax (PAT) to ₹483 crore for the first quarter ended June 30, 2026, driven by robust revenue growth and strong deal wins.
The AI-led digital engineering company posted 29% YoY growth in revenue, with consolidated revenue rising to ₹4,303 crore during the quarter.
Revenue growth momentum continues
Persistent Systems recorded its 25th consecutive quarter of revenue growth, with revenue increasing 3.8% quarter-on-quarter (QoQ) and 16.1% in dollar terms year-on-year, while maintaining an EBIT margin of 16%.
The company attributed the performance to strong traction in large client engagements and sustained demand for AI-led digital transformation services.
Record deal bookings
Persistent reported a record quarterly Total Contract Value (TCV) of $1.15 billion, while Annual Contract Value (ACV) stood at $536.8 million.
The company said the quarter included a 6.5-year strategic services agreement with a leading global technology company, with a contract value exceeding $650 million.
Nagarro acquisition to expand global footprint
During the quarter, Persistent signed a Business Combination Agreement with Nagarro, the Frankfurt Stock Exchange-listed European digital engineering company.
Persistent Systems Chief Executive Officer and Executive Director Sandeep Kalra said the proposed transaction aligns with the company’s acquisition strategy to strengthen capabilities, expand its geographic presence and deepen industry coverage.
He added that as enterprises accelerate AI adoption, the company’s focus remains on helping clients build “Intelligent Enterprises” through its AI-driven platforms and proprietary 3C framework, which integrates business logic, enterprise data and organisational knowledge.
Large client wins
Persistent secured several marquee deals during the quarter across technology, banking and financial services.
In the technology segment, the company won contracts to support AI-led product development and cloud operations for one of the world’s largest IT companies, drive engineering transformation for a global urban mobility platform, and accelerate enterprise-wide AI adoption for a leading cloud security company.
In the BFSI vertical, key wins included modernising over 250 enterprise applications for a global insurance claims management company, AI-led modernisation of a multinational bank’s trade ledger platform, and cloud security transformation for one of the largest banks in the United States.