From News Desk
Happiest Minds Technologies held a press conference to announce its AI First strategy. Those present on the dias included Ashok Soota, Chairman & Chief Mentor; Joseph Anantharaju, Co-Chairman & CEO; Venkatraman Narayanan, MD; Sridhar Mantha, CEO, Gen AI Business Services; and Praveen RP, Co-CEO, Gen AI Business Services.
Ashok Soota said, “The creation of GBS, a division focused exclusively on GenAI, laid the foundation for our 11th strategic initiative, AI First, which we are formally launching today. AI First itself is supported by 11 strategic programmes which will lead to an expansion of Happiest Minds market size and share. Here, I should also make the statement that Anthropic is an opportunity, not a threat for Happiest Minds.”
Joseph Anantharaju said, “The demand environment remains selective, but increasingly intentional. Customers are not cutting technology spend indiscriminately; instead, they are prioritising initiatives where the business case is well defined. AI-led productivity, modernisation of core platforms and automation programmes are seeing traction as enterprises focus on measurable outcomes and faster time-to-value.
As a result, AI is no longer an add-on in customer conversations. Increasingly, discussions are centred on how AI can be embedded into core workflows and platforms, governed effectively and scaled across the enterprise. This is where our AI First positioning is making a tangible difference.”
Venkatraman Narayanan said, “Aligned to our AI First strategy, we plan to grow our AI/GenAI team to 1,000 by end of FY27, while maintaining financial discipline in the process.”
He also presented the results of the Q3 FY 25. He said, “For Q3 FY25, revenues stood at USD 65.7 million, showing a growth sequential and year over year growth in constant-currency of 1.2% and 7.1% respectively. In rupees, revenues were Rs 587.6 crore, up 2.4% sequentially and 10.7% year-over-year. Total income for the quarter stood at ₹603.7 crore, growing 1.4% QoQ and 8.9% YoY. EBITDA was Rs 123 crore, translating to an EBITDA margin of 20.4%, compared to 20.2% in Q2 and within our guided range of 20% to 22%.”
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