Birlasoft
| Company type | Public |
|---|---|
| BSE: 532400 NSE: BSOFT | |
| ISIN | ISIN: INE836A01035 |
| Industry | Information technology |
| Founded | 1990 |
| Headquarters | , India |
Area served | Worldwide |
Key people | Amita Birla (Chairman) C. K. Birla (Non-executive Director) Angan Guha (CEO & MD) |
| Revenue | ₹5,278.1 crore[1] (FY24) |
| ₹623.76 crore[1] (FY24) | |
Number of employees | 12,595[2] (2024) |
| Parent | CKA Birla Group |
| Website | www |
Birlasoft is an Indian multinational information technology services and consulting company, founded in 1990 and headquartered in Pune, India. It is a part of the CKA Birla Group.[3][4]
Birlasoft has a presence in the United States, United Kingdom, Europe, and the Asia-Pacific region and delivery centers in India.[5]
The company's shares are listed on the Bombay Stock Exchange and the National Stock Exchange of India. As of April 2024, Birlasoft's market capitalization was approximately ₹20,000 crore.[6]
History
Birlasoft was founded in 1990.[3] The company was launched in New Jersey in 1992 with initial equity investment from GE Capital. By the fiscal year 2002-2003, the company reported $73 million in revenue and 1,500 employees.[5] In 2003, GE Capital held a 20% equity stake in the company.[7][8][9] In 2001, Birlasoft secured a contract from the Ministry of External Affairs of India to computerize Indian consulates in New York and Dubai, with an extension to 38 other consulates worldwide.[10]
In April 2004, the company achieved a Level 5 maturity in CMMI Continuous Representation - SW version 1.1 from the Software Engineering Institute, becoming the first Indian IT company to attain this level.[11]
In December 2005, Birlasoft acquired Portfolio Insight, a loan pricing and portfolio management software, from Sydney-based Fusion Technology Group.[12] The company launched Birlasoft Advisior+ in the Asia-Pacific market in 2006, providing tools for investment advisors and financial institutions for portfolio management and analytics.[13]
In January 2014, Birlasoft acquired US-based CRM software provider EnablePath for an undisclosed sum.[14]
In 2019, Birlasoft and KPIT Technologies underwent a merger and demerger, leading to the creation of two publicly traded companies, with Birlasoft operating in business IT services and KPIT Technologies focusing on automotive embedded software.[15][16]
In December 2020, Acacia II Partners LP sold over 6.7 million shares of Birlasoft Ltd worth approximately ₹137 crore through an open market transaction.[17]
See also
References
- ^ a b Mohanty, Ajay (29 April 2024). "Birlasoft Q4 results: Profit rises 60% to Rs 180 cr, revenue up 11%". Business Standard.
- ^ "Birlasoft's net profit grew 11.8% to Rs 180 crore". The Economic Times. 29 April 2024.
- ^ a b Arakali, Harichandan (12 April 2023). "From Mphasis to WNS, four midcaps changing the Indian IT game". Forbes India.
- ^ Parmar, Beena (4 March 2024). "Birlasoft eyes large clients to lead industry growth". The Economic Times.
- ^ a b Warrier, Shobha (7 August 2003). "Birlasoft opens development centre in Chennai". Rediff.com.
- ^ Balachandran, Manu (30 April 2024). "Long-term wealth creation calls for long-term investments: Ravi Pandit". Forbes India.
- ^ "BIRLASOFT: Reversing the Order". Dataquest. 25 August 2003.
- ^ "BirlaSoft Under Pressure". Dataquest. 31 August 2000.
- ^ "Birlasoft, iPlanet in service pact". The Times of India. 21 December 2000.
- ^ "BIRLASOFT: Back on Track". Dataquest. 4 August 2001.
- ^ "Birlasoft gets CMMI Level 5 appraisal". The Economic Times. 16 April 2004.
- ^ Kant, Krishna (24 December 2005). "Birlasoft eyes acquisitions in ERP space". The Economic Times.
- ^ "Birlasoft launches ADVISIOR+ for wealth managers". One India. 30 August 2006.
- ^ Gupta, Bhavna; Puthuparampil Johnson, Joby (9 January 2014). "Birlasoft acquires US-based CRM solutions provider EnablePath". VCCircle.
- ^ Phadnis, Shilpa (30 January 2018). "KPIT to merge with Birlasoft, split into two". The Times of India.
- ^ Mendonca, Jochelle (30 January 2018). "KPIT, Birlasoft to merge and split into two publicly-traded companies". The Economic Times.
- ^ "Acacia II Partners LP sells Birlasoft shares worth over Rs 137 cr". The Times of India. 21 December 2020.