Dear Shareholders,
FY26 marked a defining year in the evolution of enterprise AI. Across industries, the conversation shifted decisively from experimentation to execution. Organisations are no longer asking what AI can do; they are asking how quickly and effectively it can be embedded into products, processes, decisions and customer experiences.
Throughout my career, I have witnessed several technology transitions reshape our industry, from distributed computing and the internet to cloud and digital transformation. What makes AI different is its ability to influence not only technology architectures, but also how organisations operate, make decisions and create value. The next competitive advantage will come from how effectively intelligence is integrated into the operating core of the enterprise.
At Persistent, we believe this is where our engineering heritage creates a distinct advantage. Our roots in software and product engineering have shaped our approach to technology innovation for more than three decades. As enterprises seek to operationalise AI, the combination of product engineering excellence, data expertise, domain knowledge and disciplined execution is becoming increasingly important.
Our performance in FY26 reflects the strength of this positioning. Revenue reached $1.654 billion, growing 17.4% year-over-year, while Q4 marked our 24th consecutive quarter of revenue growth. We are also pleased to announce a final dividend of INR 18 per share, bringing the total dividend for the year to INR 40 per share. These results reflect the growing demand for AI-led modernisation, the dedication of our teams and the trust our clients continue to place in Persistent.
Through our work with enterprises around the world, we have learned that successful AI adoption depends on three critical capabilities: a strong technology foundation, deep business context and the ability to embed intelligence into workflows where decisions and outcomes are created. We describe this through our 3C Framework — Core, Context and Coordination. Together, these capabilities help enterprises move beyond pilots and translate AI investments into measurable business value.
This represents a significant opportunity for Persistent. Organisations increasingly need partners that can combine AI capabilities with engineering rigour and accountable execution. Our heritage in product engineering, combined with deep expertise in enterprise modernisation, positions us uniquely to help clients operationalise intelligence across their technology landscape, data estate and business operations.
Our AI-led, platform-driven services strategy continues to strengthen this differentiation. By combining software engineering, cloud, data, platforms and AI, we help clients modernise core systems, accelerate innovation and build more intelligent enterprises.
Throughout the year, we continued to invest in the platforms, partnerships and talent required to enable AI adoption at scale. We strengthened strategic relationships across our ecosystem, expanded industry-focused solutions and deepened our capabilities in highly regulated and data-intensive sectors where trust, governance and reliability are paramount.
A defining moment of the year was our recognition as a Microsoft Frontier Firm for leadership in Agentic AI. We were also recognised as the Fastest Growing IT Services Brand globally in the 2026 Brand Finance IT Services 25 report, reinforcing the relevance of our strategy and the growing impact of our work with clients around the world.
Long-term value creation extends beyond financial performance. For the third consecutive year, Persistent achieved carbon neutrality across Scope 1 and Scope 2 emissions while continuing to advance our sustainability commitments.
Our people remain our greatest differentiator. Through Persistent University, we delivered more than 30,000 AI certifications, 24,500+ hyperscaler certifications and 2.6 million learning hours during the year. As technology evolves, we remain committed to helping our people learn, grow and lead in an increasingly AI-driven world.
Beyond business performance, we continue to create meaningful societal impact through Persistent Foundation and Persistent Foundation US, supporting initiatives in education, healthcare and community development.
Looking ahead, I believe AI will be one of the most powerful drivers of productivity, innovation and economic value creation over the coming decade. Organisations that successfully combine technology, data, talent and governance will be best positioned to capture its full potential.
Persistent enters this next chapter with confidence. Our product engineering DNA, AI-led, platform-driven services strategy, ecosystem partnerships and global talent base position us uniquely to help clients navigate this transformation and create enduring value for all stakeholders.
I extend my sincere gratitude to our clients, colleagues, partners and shareholders for their continued trust and support. Together, we are building a company designed not only to thrive in a rapidly changing world, but to help shape the future of enterprise technology.
We believe the next generation of industry leaders will be defined by how effectively they combine intelligence, engineering and execution. Persistent is uniquely positioned and we remain confident in our ability to create sustainable value for all stakeholders.
The next phase of enterprise transformation will be defined not by access to AI, but by the ability to operationalise it responsibly, at scale and with measurable business impact.
With best regards, Sandeep Kalra Executive Director and Chief Executive Officer
Message from
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2026 Annual Report
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Re(AI)magining
the Enterprise
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Contents
Home
FY26 Performance Highlights
Building the Workforce for the Next Era of Enterprise Execution
Persistent University
Environmental, Social and Governance
Persistent Foundation
FY26 Awards and Analyst Recognitions
Re(AI)magining™ AI as a System to Deliver Enterprise Outcomes
Re(AI)magining™ Client Success
Partnering to Transform, Innovate and Re(AI)magine
Re(AI)magining™ the Enterprise From Ambition to Engineered Advantage
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