Persistent Systems overtakes Hexaware, ranking ninth in India

Persistent Systems has become India's ninth-largest IT services company after surpassing Hexaware Technologies in revenue for the January-March 2025 quarter. This marks the fourth shift in the IT industry's rankings within a year. Persistent Systems reported a 4.2% revenue increase to $375.2 million, while Hexaware's revenue decreased by 0.2% to $371.5 million during the same period. This change reflects the competitive landscape among mid-cap IT firms. The Indian IT industry, valued at $283 billion, has seen recent changes in company rankings, with mid-cap companies actively competing for market share. Persistent's growth is attributed to its focus on regulated verticals and strategic deals.