Happiest Minds Technologies Reports Strong Q1 FY26 Results, Driven by GenAI and Strategic Initiatives

Happiest Minds Records 20 Quarters of Growth with ₹13.5 Cr in GenAI Business | AIM

Bengaluru-based IT firm Happiest Minds reported revenues of ₹549.9 crore, as compared to ₹463.8 crore a year ago, an increase of 18.5 per cent. Revenue in constant currency rose by 2.3% quarter-on-quarter (QoQ) and 17.5% year-on-year (YoY), according to an official statement. The company reported ₹13.54 crore in Generative AI Business Services (GBS), which was ₹7.13 crore when the company started its GBS operations in Q1FY25. Ashok Soota, chairman & chief mentor, attributed the strong start to the confidence its customers have on the company's differentiated digital capabilities. "As we harness the transformative power of Generative AI and deep tech, Happiest Minds remains steadfast in delivering purposeful innovation and long-term value," he said in the statement. He added that with a sharp focus on mindful execution, customer-centricity, and technology leadership, "the company is well-positioned to sustain double-digit growth for the year and have laid a foundation for achieving three consecutive years of double-digit growth." Key deal wins included: delivering GenAI services to drive innovation and boost productivity for a global logistics company, and serving as the implementation partner for a US-based insurance and financial solutions firm by deploying GenAI-powered workflow automation. Commenting on the performance, Joseph Anantharaju, co-chairman & CEO, said that the momentum reflects the contribution of the ten transformations the company has undertaken to drive growth. "Our differentiated capabilities in Generative AI, Data, and Cybersecurity -- combined with our verticalised structure -- position us as the partner of choice. We remain confident in our ability to scale impact and drive sustainable growth for our clients and stakeholders," Anantharaju said. Venkatraman Narayanan, managing director, shared that even as Happiest Minds continues to invest in AI and strengthen its sales engine, the company has delivered 20 quarters of sequential growth with a robust EBITDA of 21.4%. "Our unwavering focus remains on driving sustainable growth, enhancing operational efficiency, and consistently creating long-term value for our shareholders," he said. The company's operating revenue in US dollars stood at $64.4 million, reflecting a 2.3% QoQ and 15.9% YoY growth. EBITDA for the quarter stood at ₹124.05 crore, forming 21.4% of total income, with a 12.9% QoQ and 6.3% YoY growth.

Happiest Minds Q1 Results: Profit climbs 12% to Rs 57 crore; revenue up 18%

Happiest Minds Technologies on Tuesday reported an 11.9 per cent increase in consolidated net profit at Rs 57.1 crore for June quarter 2025-26. The Bengaluru-headquartered IT firm had logged a profit of Rs 51 crore in the same period last year. Revenue from operations in the quarter improved 18.5 per cent to Rs 549.9 crore, as compared to Rs 463.8 crore a year ago. Sequentially, the profit surged 67.9 per cent, but revenue rose marginally by 0.9 per cent. CEO Joseph Anantharaju attributed the momentum to the 10 strategic changes and initiatives the company outlined before the start of the fiscal year. Happiest Minds implemented 10 major changes, including leadership restructuring, acquisitions, expansion into new geographies, and the launch of new business units and AI services. These initiatives are aimed at driving double-digit, organic growth in FY26 and FY27, building a future-ready organisation, and increasing operational efficiency while expanding global and technological capabilities. "Our differentiated capabilities in Generative AI, Data, and Cybersecurity-combined with our verticalized structure-position us as the partner of choice. We remain confident in our ability to scale impact and drive sustainable growth for our clients and stakeholders," Anantharaju, who assumed the position of company Co-Chairman and CEO in March this year, said. The company added 17 new clients during the first quarter of the fiscal year, bringing its tally to 285 as of June 30, 2025. The employee count at the end of Q1 FY26 stood at 6,523, a decline of 109 from the previous quarter. Furthermore, the company's board approved the amalgamation of Happiest Minds Technologies with its wholly-owned subsidiary, Aureus Tech Systems Private Ltd. Through this amalgamation, the companies expect to pool resources, achieve operational synergies and cost savings, optimise logistics, and simplify the group structure by reducing statutory compliances. In 2024, Happiest Minds acquired Aureus Tech Systems, a digital product engineering firm based in the US, for USD 8.5 million (around Rs 71 crore). Happiest Minds Technologies offers digital transformation, product engineering, and infrastructure management services. Shares of the company were trading at Rs 641.65 apiece on the BSE on Tuesday.