BENGALURU: Bengaluru-headquartered IT company Happiest Minds is hopeful that it will deliver healthy double-digit organic growth 'not just in FY26 but also FY27'. "This is due to the momentum we are building up through our 10 strategic transformational changes that were launched since FY24 and going ahead through FY26," said Ashok Soota, Chairman and Chief Mentor of Happiest Minds.
Addressing a press conference here on Wednesday, Soota said they are not seeing a recession driven slowdown. "The year FY25 is witnessing flat growth for some of the majors and negative growth for a few others. We have delivered a healthy double-digit growth, albeit most of it is inorganic. The market is predicting a US slowdown or recession. This has clouded the prospects for the Indian IT industry," he said.
Recently, the mid-tier IT company named Joseph Anantharaju as its co-chairman and CEO. The company has also invested heavily in the transformations that include creating an independent business unit of GenAI; appointment of a Chief Growth Officer; addressing the requirement of GCC (Global Capability Centres) companies; developing a private equity (PE) company ecosystem & their portfolio companies; and creating large accounts focus strategy.
The company, which previously engaged with PE firms in an ad-hoc and tactical manner, will now engage in a strategic manner. "We would like to move more upstream and help PE firms in carrying out due diligence of their acquisition candidates and helping them with a post-acquisition roadmap. We are developing tools and frameworks that will accelerate this process," Anantharaju said, adding the company will create more $5 and $10 million accounts.
Given that companies are now focusing on GCCs, Happiest Minds too will focus on enhancing their effectiveness. "For companies that are contemplating a GCC, we would help them understand the opportunity, risk, legal and compliance needs, scale requirements, and talent needs to craft an appropriate strategy and facilitate their entry directly or through Happiest Minds," he said.
The IT firm also announced that it is looking to expand its international market presence beyond its current Southeast Asia and Africa markets into Europe and North America.
The company has completed PureSoftware and Aureus acquisitions and the results of these have led to the growth in FY25.
Venkatraman Narayanan, MD and CFO, said they will continue to focus on M&A and will explore new opportunities. "We are starting the new year with a good pipeline of potential M&A prospects," he said.
In the December quarter, the company's revenue rose 29.50% y-o-y to Rs 531 crore. The company has set a goal of achieving $1 billion in revenue by 2031.