Dear Valued Shareholders,
Our AI solutions, including ExtenSURE.AI, SASVA, and Persistent iAURA, underscore our leadership in leveraging cutting-edge technology to drive transformation and growth for our clients. Strategic collaborations with leading hyperscalers along with extensive AI training for more than 16,000 employees further enhance our capabilities to serve our clients’ most complex technology challenges.
On the ESG front, we were recognised as one of India's leading ESG entities by Dun & Bradstreet, and we are on track to achieve carbon neutrality for Scope 1 and Scope 2 emissions and 100% renewable energy sourcing for our owned facilities by mid-FY25.
I am pleased to present the Annual Report for the Financial Year 2023-24. Our strong financial performance and growth highlight our resilience and 30+ years of storied heritage.
We were identified as a Challenger in the Gartner Magic Quadrant for Public Cloud Transformation Services and named a GenAI Leader by HFS Research. We received accolades from ISG for overall excellence and from Everest Group for leadership in next-gen IT services talent. Additionally, we were honoured as the “Most Promising Company” at CNBCTV18’ s India Business Leader Awards. We were also included in prestigious capital market indices like MSCI India Index, S&P BSE 100, and S&P BSE SENSEX Next 50.
Thank you for your continuous support.
With Best Regards,
“The theme of this year’s report, Resilient and Future- Ready: The Persistent Way, captures our ability to navigate challenging market conditions through strategic investments, client focus, and adaptability.”
Reflecting on our first full year as a $1 billion company, I extend my gratitude to our clients for their trust, our global team for their dedication, and our investors for their unwavering support. For FY24, we achieved a 14.5% YoY growth with $1.186 billion in revenue. We are deeply humbled by our 16 quarters of sequential growth. We announced a total dividend of ₹52 per share (pre-split) for FY24, up from ₹50 in FY23, not factoring the stock split effective April 1, 2024. Our global team expanded to over 23,800 employees across 20 countries, fostering continuous value delivery to our clients.
The theme of this year’s report, "Resilient and Future-Ready: The Persistent Way", captures our ability to navigate challenging market conditions through strategic investments, client focus, and adaptability. We consistently remain in the top quartile of revenue growth in our industry over the last four years and maintain a forward-thinking approach, especially with AI and Generative AI-enabled solutions.
Sandeep Kalra
CEO and Executive Director
34th Annual Report 2024
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FY24 Performance Highlights
Our Future-Ready Global Workforce
Persistent University
Environmental, Social and Governance
Persistent Foundation
Client Resilience and Success
FY24 Awards and Analyst Recognitions
Innovation for Resilience and Excellence
Partnering for Future-Ready Solutions
The Persistent Way Forward
As we pursue our goal of becoming a $2 billion company over the next several years, we remain focused on building strong capabilities and delivering value to our stakeholders. As we enter FY25, our commitment to resilience and future-readiness drives our pursuit of continued success.
We also celebrate the 15th anniversary of Persistent Foundation, dedicated to positively impacting our planet, people, and society.
34th Annual Report 2024
Download Report
Home
Home
FY24 Performance Highlights
Our Future-Ready Global Workforce
Persistent University
Environmental, Social and Governance
Persistent Foundation
Client Resilience and Success
FY24 Awards and Analyst Recognitions
Innovation for Resilience and Excellence
Partnering for Future-Ready Solutions
The Persistent Way Forward
34th Annual Report 2024
Download Report