Pune, Noida : Birlasoft [BSE: 532400, NSE: BSOFT], a part of the USD 2.4 billion diversified CK Birla Group, reported its unaudited consolidated financial results for the first quarter ended June 30, 2021.

Dharmender Kapoor, Chief Executive Officer and Managing Director, Birlasoft, said, “We have begun FY22 on a positive note with healthy growth and improved traction in our Enterprise Solutions business and net new wins. Our consistent QoQ growth, sustainable profitability, and continuous improvement in PAT are a testament to our value creation for shareholders. Keeping customer centricity at the core, we have reorganized and redefined our service lines to align with contemporary market demands and customer priorities in the hyper-digital and subscription economy. We are confident that the consolidation of our complementary service offerings under the three pillars of Business and Technology Transformation, Cloud and Base services, and Enterprise Solutions will allow us to be more agile and deepen our capabilities, thereby effectively addressing our customers’ business needs.”

Key Financial Highlights for Q1 FY22

Other Highlights

·         Signed deals of TCV $ 153 M during the quarter

o  $ 94 M of new TCV wins in Q1

·         Active Client Count at 291

o  $ 5 M customer at 22; up by 5 YoY and $ 10 M customer at 10; up by 2 YoY

o  Top 20 customers grew 14.6% YoY

·         Cash & equivalents at $ 154 M (₹ 11,446 M), up $ 45.2 M YoY (₹ 3,230 M)

·         DSO of 54 days, down by 6 days YoY and 2 days QoQ

·         Headcount stood at 11,508 as of June 30, 2021, versus 11,051 in Q4’FY21

o  Added 457 professionals QoQ and 1,600 on a YoY basis

o  Attrition at 16.5% in Q1’ FY22 versus to 11.6% in Q4’FY21 & 16.5% in Q1’FY21

Deal Wins for the Quarter

·         Won IT managed services and support deal from a global Communication and Media Software major.

·         Selected by a leading US Telecom major for financial accuracy and testing services.

·         Selected by a Global Consumer Financial Services major for migration of Source-to-Pay and integrating upstream and downstream systems.

·         Selected by a leading US medical device manufacturer for upgrade, migration, and roll out to the JD Edwards enterprise ERP stack.

·         Won a deal from a global Ecological Transformation major for development, and support of the application services.

·         Selected by a US Auto major for the rollout of SAP S/4 Hana Services.

·         Chosen by a leading US medical technology company for SAP S4 Hana Greenfield implementation and Data Warehousing modernization.

·         Chosen by a leading US technology services provider to global energy for implementation, roll out, and support of J D Edwards enterprise ERP stack across Latin America and the Far East.

Business Highlights & Recognition

·         Birlasoft Fortifies its Cloud-First Strategy as an AWS Advanced Consulting Partner. Achieving AWS Advanced Consulting Partner status further strengthens Birlasoft’s cloud portfolio and will enable the company to leverage AWS to accelerate its enterprise clients’ digital transformation journeys.

·         Birlasoft Wins Three Distinguished Oracle JD Edwards Partner Awards. The awards recognize Birlasoft in Product Innovation-Enterprise Integration, Cloud Centric-Oracle Cloud Platform, Customer Centricity-Bringing Customers back on JD Edwards categories

·         Birlasoft and Regulativ.ai Co-Develop AI-Led Cybersecurity Assessment Platform for Global Banking, Financial Services, and Insurance Customers. The co-development of an AI/ML- based industry-revolutionizing platform will help customers streamline and automate their cybersecurity regulatory assessment and reporting, leverage the power of new-age digital technologies, deliver significant cost savings, and near real-time view of compliance to cyber regulations, as well as rich analytics.

·         Birlasoft launches Pega® Center of Excellence to help customers drive CX and automation programs with AI-led technologies