Persistent Systems Reports $422.5M Revenue in Q3 FY26

Persistent Systems delivered strong Q3 FY26 results with $422.5 million in revenue, marking 17.3% year-over-year growth and the company’s 23rd consecutive quarter of revenue expansion. The IT services firm also declared an interim dividend of ₹22 per share.

Financial Performance at a Glance

*Excluding one-time 2.3% impact from New Labour Codes

What’s Driving Growth

“Our performance reflects a deeper role in strategic client programs and sustained demand for data, cloud, and digital engineering across our core industries,” says Sandeep Kalra, CEO and Executive Director at Persistent Systems.

The company secured $674.5 million in Total Contract Value (TCV) and $501.9 million in Annual Contract Value (ACV) during the quarter. Key wins spanned healthcare, banking, fintech, and hi-tech sectors.

Healthcare & Life Sciences: Accelerated automation and cloud-native transformation for a leading U.S. pathology organization, including 24/7 multilingual support through predictive analytics and self-healing systems for a global vital organ therapy leader.

Banking & Financial Services: Re-architected payroll and HCM platforms for a global fintech leader, drove compliant data transformation for a French multinational bank, and strengthened cybersecurity for a tier-1 U.S. bank.

Software & Hi-Tech: Scaled AI-led digital commerce solutions, delivered data-driven customer experience improvements for a global edtech leader, and modernized R&D platforms for a semiconductor materials company.

Agentic AI and Innovation

Persistent is applying Agentic AI within its own operations as a “customer zero” to improve productivity and accelerate adoption at scale. This approach earned recognition as a Microsoft Frontier Firm for leading the innovation curve.

The company also received multiple industry accolades during the quarter, including being named one of India’s Most Valuable Brands by Kantar BrandZ (ranked 6th in Business Technology and Services), a Leader in ISG Provider Lens Generative AI Services, and winning the ISG Star of Excellence Award for AI and Data Excellence.

Leadership Recognition

Dr. Anand Deshpande (Founder, Chairman and Managing Director) and Sandeep Kalra were jointly recognized by Fortune India as India’s Best CEOs in the IT Services mid-cap category. Kalra also won ET Edge India’s Impactful CEO Awards 2025, while Dr. Deshpande was elected a Fellow of the Indian National Science Academy.

Looking Ahead

“As we move ahead, our priority remains sustaining growth through consistent execution as demand continues to shift toward larger, more complex engagements,” Kalra explains.

With 23 consecutive quarters of revenue growth, strong order bookings, and expanding margins (excluding one-time labour code impacts), Persistent is positioned for continued momentum across its core verticals.

The interim dividend of ₹22 per share reflects the company’s commitment to shareholder returns alongside operational expansion.

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