Happiest Minds Technologies , a digital transformation and IT solutions provider, has announced strong financial results for the third quarter of fiscal year 2021, showcasing significant growth across key metrics.

Revenue Growth

The company reported a quarterly revenue of ₹201.29 crore for Q3 FY21, marking a substantial increase of 7.1% quarter-over-quarter and an impressive 14.6% year-over-year growth. This performance underscores Happiest Minds Technologies' ability to expand its business despite challenging market conditions.

EBITDA Surge

One of the standout features of Happiest Minds Technologies' Q3 results was the remarkable surge in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The company's EBITDA skyrocketed by 112.3% year-over-year, reaching ₹59.69 crore. This growth was accompanied by a significant expansion in EBITDA margins, which improved from 16.0% in the previous year to a robust 29.7% in Q3 FY21.

Profitability Boost

Happiest Minds Technologies also reported a substantial increase in profitability. The company's Profit After Tax (PAT) grew by 97.1% year-over-year, reaching ₹42.15 crore. The PAT margin stood at an impressive 20.9%, reflecting the company's ability to translate revenue growth into bottom-line results.

Nine-Month Performance

For the nine-month period of FY21, Happiest Minds Technologies continued to demonstrate strong performance:

Digital Focus and Client Base

Happiest Minds Technologies maintained its strong focus on digital services, with 96.6% of its revenue coming from this segment. The company serves 38 Fortune 2000, Forbes 200, or billion-dollar corporations, highlighting its ability to attract and retain high-profile clients.

Operational Highlights

• Employee count reached 2,885
• Utilization rate stood at 81.6%
• The company operates across three key segments:
  1. Infrastructure Management & Security Services
  2. Digital Business Solutions
  3. Product Engineering Services

Happiest Minds Technologies' Q3 FY21 results demonstrate the company's resilience and ability to grow in a competitive market. With strong revenue growth, significant margin expansion, and a continued focus on digital services, the company appears well-positioned to capitalize on the increasing demand for digital transformation solutions.

Happiest Minds Technologies ' subsidiary, PureSoftware, has achieved significant recognition for its Arttha digital banking platform at the IBSi Digital Banking Awards 2025. The company secured two prestigious honors, highlighting its growing influence in the digital banking sector across Africa and other high-growth markets.

Award-Winning Innovation

PureSoftware's Arttha platform emerged victorious in two categories:

1. Functional Area Winner in Digital Wallet: This award was secured for the platform's implementation with G-Money Financial Services, a subsidiary of GCB Bank in Ghana.
2. Regional Winner for Africa: Arttha won this accolade for its work with EcoCash, demonstrating its impact across the African continent.

Arttha: A Comprehensive Digital Banking Solution

Arttha, PureSoftware's flagship product, is a cloud-native platform offering a wide range of digital banking solutions:

• Digital Lending
• Payments
• Retail and SME Banking
• Core Banking
• Buy Now Pay Later (BNPL)
• Agency Banking

The platform's versatility and scalability have been key factors in its success, enabling financial institutions to streamline operations and reduce time to market for new services.

Real-World Impact

The awards recognize Arttha's practical applications in the field:

• G-Money Financial Services: Utilizes Arttha for an omnichannel wallet platform, providing secure access to diverse financial services.
• EcoCash: Employs the platform for instant micro-loans, supporting financial inclusion initiatives.

Leadership Perspectives

Joseph Anantharaju, Co-Chairman & CEO of Happiest Minds Technologies, expressed pride in the recognition, stating, "These awards are a testament to the innovation and customer-centricity that define the joint vision of Happiest Minds and PureSoftware."

Manish Sharma, CEO of PureSoftware, emphasized the company's commitment to purpose-led innovation, saying, "Arttha continues to deliver scalable and inclusive digital banking solutions to address both current and future banking needs."

Client Testimonials

The success of Arttha is further validated by client testimonials:

• Munyaradzi Nhamo, Managing Director of EcoCash, praised the platform for enabling "a best-in-class digital lending solution that enables seamless credit access for customers while driving greater efficiency and business growth for our teams."
• Ebo Richardson, Principal Lead at G-Money Financial Services, commended Arttha's alignment with their business objectives and its role in developing scalable digital payment solutions.

About the IBSi Digital Banking Awards

Hosted by IBS Intelligence, these awards serve as a global benchmark for digital transformation success in banking and fintech. Nikhil Gokhale, Director of Research & Digital Properties at IBS Intelligence, congratulated PureSoftware, noting that the dual wins "reflect PureSoftware's growing role in supporting digital banking initiatives across diverse markets."

The recognition of Arttha at the IBSi Digital Banking Awards 2025 underscores PureSoftware and Happiest Minds Technologies' commitment to driving innovation in the digital banking sector, particularly in emerging markets where financial inclusion and digital transformation are critical priorities.