Persistent Systems shares jump 5% on launching AI-powered contract management solution

Sandeep Kalra, CEO and Executive Director of Persistent, said, "At Persistent, our AI-driven, platform-based approach is key to addressing complex enterprise challenges with practical, scalable solutions. ContractAssIst, developed in collaboration with Microsoft, showcases how we use innovative technologies to transform traditionally manual tasks, such as contract management, with AI. This solution reflects our strong partnership with Microsoft and our shared vision of driving AI adoption to achieve measurable efficiencies and tangible results for our clients."

Recently, the company also introduced Pi-OmniKG, AI-driven knowledge graph solution created with Google Cloud technology. This solution is set to help healthcare and life sciences organisations accelerate biomedical research, streamline data mining, and deliver insights faster and more accurately.

Persistent Systems is set to release its third-quarter results on January 22, 2025. Analysts at HDFC Securities expect the company to lead sequential growth in the mid-tier IT sector for Q3. The brokerage forecasts a 22 percent year-on-year (YoY) increase in net sales, reaching Rs 3,044 crore in Q3FY25, with adjusted profit rising by 24 percent YoY to Rs 355 crore.

At the operating level, Persistent’s EBIT is expected to grow 22.6 percent YoY to Rs 445 crore, with the EBIT margin likely to expand by 9 basis points YoY to 14.6 percent in Q3FY25.

Over the past 3 months, shares of Persistent Systems have surged 8 percent, outperforming benchmark Nifty 50's 4 percent decline.

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