Persistent Systems Hits Record $1.15B Contract Value in Q1

CEO Sandeep Kalra attributed the performance to the company's 25th consecutive quarter of revenue growth, supported by a 16% EBIT margin. The firm’s expansion strategy continues to focus on large-scale client engagements and AI-led enterprise modernization. A key component of this growth involves a new business combination agreement with Nagarro, a European digital engineering firm, intended to broaden the company's geographic reach and industry coverage.

Client wins in the quarter spanned major sectors including healthcare, banking, and high-tech. Notable projects included consolidating 3,000 bots for a large U.S. healthcare organization and reengineering trade ledger platforms for multinational banks. Beyond contract wins, the company expanded its technical ecosystem through partnerships with Kong and achieved new specializations with Databricks. Persistent, which currently employs over 28,500 people across 21 countries, continues to emphasize its 3C framework—a model designed to help enterprises integrate business logic, data, and experience to scale artificial intelligence capabilities effectively.