OPEN APP
Home >Companies >News >Persistent Systems expects demand to remain strong over next 3-5 years: Emkay Research

Persistent Systems expects demand to remain strong over next 3-5 years: Emkay Research

Persistent Systems is considering mergers and acquisitions to add capabilities across service lines. (Photo: Company website)Premium
Persistent Systems is considering mergers and acquisitions to add capabilities across service lines. (Photo: Company website)

  • The company is on track to achieve its goal of $1 billion revenue run rate over the next few years. Management has indicated that $10-50 million size deals remain a sweet spot although it is seeing a gradual increase in the deal size

Listen to this article

BENGALURU: Mid-sized IT services company  Persistent Systems Ltd has been witnessing broad-based healthy demand and expects the trend to continue over next 3-5 years, according to a report by Emkay Research.

“It is confident of sustaining the revenue growth momentum on the back of broad-based demand, robust deal intake, healthy deal pipeline and new logo additions," the report said.

According to the brokerage firm, Persistent Systems has been focusing on increasing the share of revenue from its Europe market over the next few years, organically and inorganically. It expects revenues from Europe to rise to 15-18% of total revenue in the next 3-5 years from 9.5% currently.

Growth will be helped by cross-selling opportunities across the client base, traction in partnerships with Salesforce, Appian, Amazon Web Services (AWS) and others, and new logo additions in banking, financial services & insurance (BFSI) and healthcare.

The company is on track to achieve its goal of $1 billion revenue run rate over the next few years, Emkay Research said. Management indicated that $10-50 million size deals remain a sweet spot although it is seeing a gradual increase in deal size.

Persistent Systems is considering mergers and acquisitions to add capabilities across service lines (cloud, data and security), verticals (BFSI and healthcare) and geography (Europe).

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout