1 min read.Updated: 16 Sep 2021, 01:01 PM ISTLivemint
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
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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).