Persistent on track to reach $ 2 billion run-rate mark; tapping long term finance for acquisition

Persistent Systems is confident of maintaining its operating margins in the 16-17% range for this fiscal. Revenue growth is expected in all three verticals. Vinit Teredesai, executive director and CFO, said Persistent was on track to reach the $ 2 billion run-rate mark in FY27. “The large deal takes us comfortably towards the $2 billion mark,” he said.

Additionally, the acquisition of Nagarro and the synergies that the combined organisation is creating put them in a completely different orbit, Teredesai said. The acquisition was part of its strategy to become a $5 billion organisation by FY31.