Message from the CEO Message From the CEO: Sandeep Kalra

Dear Valued Shareholders,

I am pleased to present the Annual Report for the Financial Year 2024-25, a landmark year that celebrates 35 years of our journey as a leading technology and services company. Our robust financial performance and growth is a testament to our enduring legacy of product engineering excellence and collaborative client relationships. This achievement is a culmination of our team's dedication and our commitment to innovation, underscoring our position as a trusted partner for businesses worldwide. Reflecting on the past year, I extend my sincere gratitude to our valued clients for their trust and partnership, our dedicated global team for their inspiring innovations, our technology partners for their collaboration and expertise that fuel our growth and innovation, and our investors for their steadfast support. For FY25, we achieved 18.8% Year-on-Year growth, in US$ terms, with $1.409 billion in revenue, marking 20 quarters of sequential growth. We are pleased to announce a final dividend of ₹15 per share, bringing the total dividend for FY25 to ₹35 per share. This milestone is particularly significant as we celebrate two notable anniversaries: 35 years since Persistent’s inception and 15 years since our listing on the National Stock Exchange of India Limited and BSE Limited. During this period, our global team has expanded to more than 24,500 employees across 19 countries, with an unyielding focus on delivering client value. The theme of this year’s report, “Re(AI)magining the World,” reflects how we are investing into the latest market leading AI innovations and initiatives aimed at fundamentally transforming our and our clients’ businesses. By leveraging our AI capabilities across geographies and industries, our clients are transforming their businesses, building new levels of adaptability and resiliency into their operations to address market challenges, and creating new avenues of growth. Our AI strategy is successfully proceeding with clients on several fronts. On the one hand, we are partnering with hyperscalers and leading technology companies to build scalable agentic platforms. On the other, our Generative AI-enabled platform, SASVA, is helping us to pivot towards AI-driven platform services, accelerating software development and reducing technical debt for tech companies. We're revolutionising legacy backend processes by integrating AI agent driven workflows, powered by platforms like GenAI Hub for innovative GenAI applications and iAURA for data-driven decision-making. Additionally, we are targeting high-growth sub-verticals with tailored AI solutions, including intelligent insurance operations, AI powered payment platforms in Banking, Financial Services and Insurance, and personalised member experiences in Healthcare and Life Sciences. Our success is resonating with third-party analysts and the broader market, underscoring our industry-leading capabilities as we continue to Re(AI)magine the World. This recognition is reflected in our recent accolades, including being named a Challenger in the Gartner Magic Quadrant for Public Cloud Transformation Services for the second consecutive year. We've also earned the 2024 ISG Star of Excellence award for Superior Customer Experience and achieved top European rankings for client satisfaction in innovation from Whitelane Research. Our commitment to Re(AI)magining the World also encompasses our ongoing ESG initiatives. We have earned a spot in the top 10% of the S&P Global 2025 Sustainability Yearbook, reinforcing our dedication to responsible business practices and long-term sustainability. Notably, since February 2025, we have achieved 100% renewable energy sourcing for all our own locations in Pune, Nagpur, and Goa. Furthermore, we are proud to have made a $1 million initial investment in Persistent Foundation US, mirroring our community-building and life-saving initiatives across India. At the heart of our success lies our people-centric approach, recognising our employees as the driving force behind innovation and growth. We are committed to nurturing talent through comprehensive Learning & Development (L&D) initiatives that empower our workforce to excel in an ever-evolving landscape. Our focus on employee growth and well-being has earned us multiple wins at the prestigious Economic Times Human Capital Awards 2025, recognising excellence in employee practices. By investing in our people and fostering a culture of continuous learning, we are poised to unlock new potential and drive sustainable success. We continue to aspire to strengthen our position in terms of cutting-edge capabilities, unwavering customer focus, and a talented workforce as we move towards our aspiration of $2 billion in revenue in the next several years. As we enter FY26, we are optimistic about our continued journey, poised to deliver impactful solutions, forge meaningful partnerships, and create lasting value for our clients, partners, and investors. Through our Re(AI)magining the World vision, we are excited to explore new horizons, push boundaries, and redefine what is possible. Thank you for your continuous and valued support.

With best regards,

Sandeep Kalra Executive Director and Chief Executive Officer

“Re(AI)magining™ the World reflects how we are investing into the latest market-leading AI innovations and initiatives aimed at fundamentally transforming our and our clients’ businesses.”

Message from The CEO

Contents

Home

FY25 Performance Highlights

Enabling Our AI-Ready Workforce

Persistent University

Environmental, Social and Governance

Persistent Foundation

Re(AI)magining Client Success

FY25 Awards and Analyst Recognitions

Enabling An AI Future

Partnering to Transform, Innovate, and Re(AI)magine

The Re(AI)magining Journey Continues