Birlasoft

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Birlasoft
Company type Public
BSE:  532400
NSE:  BSOFT
ISIN ISIN:  INE836A01035
Industry Information technology
Founded1990;35 years ago (1990)
Headquarters
Pune
,
India
Area served
Worldwide
Key people
Amita Birla (Chairman)
C. K. Birla (Non-executive Director)
Angan Guha (CEO & MD)
RevenueIncrease2.svg₹5,278.1 crore [1]  (FY24)
Increase2.svg₹623.76 crore [1]  (FY24)
Number of employees
12,595 [2]  (2024)
Parent CKA Birla Group
Website www.birlasoft.com

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]

Contents

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

  1. 1 2 Mohanty, Ajay (29 April 2024). "Birlasoft Q4 results: Profit rises 60% to Rs 180 cr, revenue up 11%". Business Standard .
  2. ↑ "Birlasoft's net profit grew 11.8% to Rs 180 crore". The Economic Times . 29 April 2024.
  3. 1 2 Arakali, Harichandan (12 April 2023). "From Mphasis to WNS, four midcaps changing the Indian IT game". Forbes India .
  4. ↑ Parmar, Beena (4 March 2024). "Birlasoft eyes large clients to lead industry growth". The Economic Times .
  5. 1 2 Warrier, Shobha (7 August 2003). "Birlasoft opens development centre in Chennai". Rediff.com .
  6. ↑ Balachandran, Manu (30 April 2024). "Long-term wealth creation calls for long-term investments: Ravi Pandit". Forbes India .
  7. ↑ "BIRLASOFT: Reversing the Order". Dataquest. 25 August 2003.
  8. ↑ "BirlaSoft Under Pressure". Dataquest. 31 August 2000.
  9. ↑ "Birlasoft, iPlanet in service pact". The Times of India . 21 December 2000.
  10. ↑ "BIRLASOFT: Back on Track". Dataquest. 4 August 2001.
  11. ↑ "Birlasoft gets CMMI Level 5 appraisal". The Economic Times . 16 April 2004.
  12. ↑ Kant, Krishna (24 December 2005). "Birlasoft eyes acquisitions in ERP space". The Economic Times .
  13. ↑ "Birlasoft launches ADVISIOR+ for wealth managers". One India. 30 August 2006.
  14. ↑ Gupta, Bhavna; Puthuparampil Johnson, Joby (9 January 2014). "Birlasoft acquires US-based CRM solutions provider EnablePath". VCCircle.
  15. ↑ Phadnis, Shilpa (30 January 2018). "KPIT to merge with Birlasoft, split into two". The Times of India .
  16. ↑ Mendonca, Jochelle (30 January 2018). "KPIT, Birlasoft to merge and split into two publicly-traded companies". The Economic Times .
  17. ↑ "Acacia II Partners LP sells Birlasoft shares worth over Rs 137 cr". The Times of India . 21 December 2020.
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