Persistent Systems Limited, a leading IT services company, has announced a significant change in its leadership team, marking a new chapter in its human resources department.

Leadership Transition

Persistent Systems has revealed that Yogesh Patgaonkar has retired from his position as Chief People Officer and Senior Management Personnel (SMP) effective July 31, 2025. Following this transition, the company has appointed Rajiv Naithani as the new Chief People Officer, with his tenure beginning on August 1, 2025.

New Chief People Officer Profile

Rajiv Naithani brings a wealth of experience to his new role, boasting over two decades of human resource expertise within the IT industry. Prior to this appointment, Naithani had been serving as the Senior Vice President – HR & OD and SMP at Persistent Systems since February 3, 2025.

Naithani's educational background is impressive, showcasing his commitment to the field of human resources:

• PGDHRM from Symbiosis Institute of Business Management, Pune
• PGCHRM from XLRI
• Organization Development Certification Program (ODCP) from the Indian Society for Applied Behavioural Science (ISABS)

Company Statement

In an official communication to the National Stock Exchange of India Limited and BSE Limited, Persistent Systems stated, "Mr. Rajiv Naithani has been designated as the Chief People Officer of the Company, with effect from August 1, 2025 (IST)." The company described Naithani as "a very passionate and articulate Human Resource leader" in their filing.

Regulatory Compliance

The company has made this announcement in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure adheres to the SEBI Master Circular dated November 11, 2024, ensuring transparency in corporate governance matters.

This leadership transition underscores Persistent Systems' commitment to maintaining a strong and experienced management team as it continues to navigate the dynamic IT services landscape.

Persistent Systems , a global leader in digital engineering services, has reported a strong start to fiscal year 2026 with impressive revenue growth and continued profitability in its first quarter results.

Financial Highlights

The company delivered revenue of $389.70 million for Q1 FY26, marking an 18.8% year-on-year growth and a 3.9% quarter-on-quarter increase. This performance represents Persistent's 21st consecutive quarter of growth, showcasing the company's consistent expansion trajectory.

Profitability remained robust, with EBIT margin standing at 15.5% and profit after tax margin at 12.7%. The company's Total Contract Value (TCV) for the quarter was $520.80 million, with new bookings contributing $337.00 million.

Sector-wise Performance

Persistent Systems witnessed growth across its key verticals:

• Banking, Financial Services, and Insurance (BFSI) led the growth at 30.7% year-on-year
• Software and Hi-tech sector grew by 14.1%
• Healthcare and Life Sciences increased by 12.4%

Strategic Initiatives and Future Outlook

The company launched SASVA 3.0, an AI-powered digital engineering platform, reinforcing its commitment to innovation and technological advancement. Persistent Systems maintains its target of achieving $2 billion in revenue by FY27, demonstrating confidence in its growth strategy.

Operational Updates

In response to market uncertainties, management has postponed annual wage hikes by a quarter. Despite this, the company continued to expand its workforce, adding 746 employees quarter-on-quarter, bringing the total headcount to 25,314.

Management Commentary

Sandeep Kalra, Executive Director and CEO, commented on the results: "We are happy with our performance in Q1 FY26 despite the increased caution among our customers due to macroeconomic and geopolitical uncertainties. We'll continue to strengthen our AI capabilities as well as our sales channels and proactively engage with our customers while striving for top-quartile growth in our sector."

Persistent Systems' strong Q1 performance, coupled with its strategic focus on AI and digital engineering, positions the company well for continued growth in the evolving tech landscape. The company's ability to maintain growth momentum amidst market uncertainties underscores its resilience and adaptability in the dynamic IT services sector.