Birlasoft was founded in 1990.[3] The company was launched in New Jersey in 1992 with initial equity investment from GE Capital. At that time, Birlasoft's revenue was $0.3 million. By the fiscal year 2002-2003, the company had grown significantly, reporting $73 million in revenue and employing approximately 1,500 people, with offices in the United States, Europe, Australia, the Middle East, the United Kingdom, Singapore, and India.[5] In 2003, GE Capital held a 20% equity stake in the company.[7]
In 2000, Birlasoft partnered with BEA Systems to offer e-commerce services using BEA's Weblogic products.[8] Later that year, it also established a partnership with iPlanet, a Sun-Netscape alliance, to deliver implementation services for iPlanet's B2B e-commerce software.[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 2002, NASSCOM listed Birlasoft among the top 20 software exporters in India for the fiscal year 2001-02.[11] By 2004, Birlasoft was ranked 15th among software exporters in India, reporting export earnings of $73.4 million.[12] 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.[13]
In December 2005, Birlasoft acquired Portfolio Insight, a real-time loan pricing and portfolio management software, from Sydney-based Fusion Technology Group.[14] 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.[15]
In January 2014, Birlasoft acquired US-based CRM software provider EnablePath for an undisclosed sum to support its transition to a business process model and enhance outcomes through cloud, analytics, and mobility.[16]
In 2019, Birlasoft and KPIT Technologies underwent a strategic merger and demerger, leading to the creation of two distinct publicly traded companies. The restructuring was undertaken to enhance specialization and growth, with Birlasoft concentrating on business IT services and KPIT Technologies focusing on automotive embedded software.[17][18]
In August 2020, Birlasoft entered into a cloud collaboration with Microsoft to support enterprise clients with cloud transformation, including infrastructure and business applications. The company has been a Microsoft Gold partner since 2010.[19] Following this strategic alliance, Birlasoft developed a $100 million revenue practice related to Microsoft Azure within two years.[3] 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.[20] The company entered a partnership with Google Cloud in June 2022 to assist enterprises in implementing cloud technologies across sectors such as manufacturing, life sciences, BFSI, and energy utilities.[21]
In May 2023, Birlasoft launched bCloud+, a service designed to facilitate the migration of OracleJD Edwards instances to Oracle Cloud Infrastructure.[22] In February 2023, Birlasoft launched Cogito, a Generative artificial intelligence platform aimed at automating processes, generating content, and improving business performance.[23] In 2024, Birlasoft received the status of AWS Migration Consulting Competency[24] and AWS Manufacturing and Industrial Consulting Competency from Amazon Web Services.[25]
Finance
In the 1998-99 fiscal year, Birlasoft reported a turnover of ₹139 crore, with ₹137 crore generated from software exports.[8] By August 2000, the company's turnover had increased to ₹166 crore, with exports contributing approximately ₹164 crore, or 99% of the total revenue. In the 2000-01 fiscal year, the company’s turnover rose by nearly 66%, reaching ₹276 crore.[8] In FY2014, Birlasoft reported annual revenue of ₹939 crore, up from ₹898 crore in FY2013.[26]
In FY24, Birlasoft reported a 60.5% increase in consolidated net profit, reaching ₹180.1 crore compared to ₹112.2 crore in the previous fiscal year. The company’s revenue for the fourth quarter was ₹1,362.5 crore, marking an 11.1% rise from the same period in FY23. For the full fiscal year, revenue amounted to ₹5,278.1 crore, representing a 10.1% increase, while net profit grew significantly by 88.1% to ₹623.8 crore.[27][1]
In September 2017, the company launched Project Shodhan, a crop residue management program aimed at addressing stubble burning and reducing air pollution in the states of Punjab and Haryana.[29] By 2019, Birlasoft, in collaboration with the Confederation of Indian Industry (CII) Foundation, expanded Project Shodhan to its third phase, targeting 13,000 acres in 20 villages across Punjab and Haryana. This phase focused on promoting sustainable straw management practices among farmers. By the end of this phase, the initiative had impacted 50 villages, covering 43,000 acres of farmland.[30] Project Shodhan was later recognized with the 2021 CSR Impact Award in the Environment category.[31]
In August 2021, Birlasoft launched the e-Vidya project to promote digital and financial literacy among women in Uttar Pradesh and Rajasthan.[32]
During the financial year 2020–2021, the company allocated ₹5.27 crore to its CSR activities, including educational programs such as e-Vidya and Disha.[28] For its CSR efforts, News18 named Birlasoft one of "The Change Makers" for 2023.[33]
Awards and recognition
In 2009, the International Association of Outsourcing Professionals (IAOP) named Birlasoft one of the top 10 outsourcing service providers in the Australia and New Zealand region in its "2009 Global Outsourcing 100" list.[34]
In 2012, Birlasoft was listed as one of the top 100 outsourcing companies globally in the "2012 Global Outsourcing 100" by the International Association of Outsourcing Professionals.[35][36]
In 2015, the company was ranked 69th in Dataquest's list of India's Top 100 IT Companies.[37]
In 2021, Birlasoft was named Microsoft Partner of the Year in the Modernizing Applications category.[38]
In 2024, the company was recognized as the "ESG Champions of India" by Dun & Bradstreet at the ESG Leadership Summit.[39]
Additionally, Birlasoft received awards in the "Innovation in Life Sciences" category and the "Innovative Lockdown Management Solutions" category at the 14th[40] and 11th annual Aegis Graham Bell Awards,[41] respectively.
In June 2024, the company was awarded for its contribution to digital transformation at the GCC Excellence Award 2024.[42]
In August 2024, Amita Birla, the chairman of the company, was named one of India's most influential women leaders in the Barclays Private Clients Hurun India Most Valuable Family Businesses report.[43]
The company received a Silver in the IT/ITeS category at the ET Brand Equity MarTech Awards 2024 by The Economic Times for its bInclusive campaign.[44]
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₹5,278.1 crore [1] (FY24)