Happiest Minds-ITC Infotech merger to broaden geographical, vertical reach
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Happiest Minds is making good progress on the ITC Infotech merger to reach a billion-dollar revenue target by FY28.
- ✓The companies have minimal overlap in geography and verticals, creating many growth opportunities.
- ✓They plan to cross-sell AI and security services to help the combined entity grow in the future.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
What were the key highlights for the company this quarter?
VN: We saw good numbers relative to industry performance, given the global outlook and geopolitical macro. We saw 7 per cent YoY CC growth, 12.5 per cent-plus in rupee terms. Profitability has grown by double digits YoY. Operating metrics are better, and utilization is high at 82 per cent. We are making good progress on the ITC Infotech merger.
We have guidance of 12.5 per cent cc revenue growth, and at midyear, we are at about 6.87 per cent. We have been pursuing a few large deals, which are just moving from Q1 and Q2, because, as a $260 million company, 2-3 large deals throw us off our estimates. We hope to nail it down by Q3 or Q4. If that happens, we’ll show a good exit. The intention is to end the year with double-digit CC growth.
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