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Birlasoft
Company typePublic
BSE: 532400
NSE: BSOFT
ISINISIN: INE836A01035
IndustryInformation 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)
RevenueIncrease₹5,278.1 crore[1] (FY24)
Increase₹623.76 crore[1] (FY24)
Number of employees
12,595[2] (2024)
ParentCK Birla Group
Websitewww.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 CK Birla Group.[3]

It operates across a variety of sectors, including manufacturing, life sciences, energy, utilities, banking, financial services, and insurance.[3] The company offers services in enterprise applications, custom software development, and specialized areas such as testing, digital, analytics, and mobility.[4][3][5] Birlasoft has a presence in the United States, United Kingdom, Europe, and the Asia-Pacific region and delivery centers in India.[6]

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.[7]

History

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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.[6] In 2003, GE Capital held a 20% equity stake in the company.[8]

In 2000, Birlasoft partnered with BEA Systems to offer e-commerce services using BEA's Weblogic products.[9] 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.[10] 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.[11]

In 2002, NASSCOM listed Birlasoft among the top 20 software exporters in India for the fiscal year 2001-02.[12] By 2004, Birlasoft was ranked 15th among software exporters in India, reporting export earnings of $73.4 million.[13] 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.[14]

In December 2005, Birlasoft acquired Portfolio Insight, a real-time loan pricing and portfolio management software, from Sydney-based Fusion Technology Group.[15] 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.[16]

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.[17]

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.[18][19]

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.[20] 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.[21] 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.[22]

In May 2023, Birlasoft launched bCloud+, a service designed to facilitate the migration of Oracle JD Edwards instances to Oracle Cloud Infrastructure.[23] In February 2023, Birlasoft launched Cogito, a Generative artificial intelligence platform aimed at automating processes, generating content, and improving business performance.[24] In 2024, Birlasoft received the status of AWS Migration Consulting Competency[25] and AWS Manufacturing and Industrial Consulting Competency from Amazon Web Services.[26]

Finance

[edit]

In the 1998-99 fiscal year, Birlasoft reported a turnover of ₹139 crore, with ₹137 crore generated from software exports.[9] 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.[9] In FY2014, Birlasoft reported annual revenue of ₹939 crore, up from ₹898 crore in FY2013.[27]

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.[28][1]

CSR

[edit]

Birlasoft is involved in various CSR activities focusing on education, healthcare, and sustainability.[29]

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.[30] 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.[31] Project Shodhan was later recognized with the 2021 CSR Impact Award in the Environment category.[32]

In August 2021, Birlasoft launched the e-Vidya project to promote digital and financial literacy among women in Uttar Pradesh and Rajasthan.[33]

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.[29] For its CSR efforts, News18 named Birlasoft one of "The Change Makers" for 2023.[34]

Awards and recognition

[edit]
  • 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.[35]
  • 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.[36][37]
  • In 2015, the company was ranked 69th in Dataquest's list of India's Top 100 IT Companies.[38]
  • In 2021, Birlasoft was named Microsoft Partner of the Year in the Modernizing Applications category.[39]
  • In 2024, the company was recognized as the "ESG Champions of India" by Dun & Bradstreet at the ESG Leadership Summit.[40]
  • Additionally, Birlasoft received awards in the "Innovation in Life Sciences" category and the "Innovative Lockdown Management Solutions" category at the 14th[41] and 11th annual Aegis Graham Bell Awards,[42] respectively.
  • In June 2024, the company was awarded for its contribution to digital transformation at the GCC Excellence Award 2024.[43]
  • 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.[44]
  • 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.[45]

See also

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References

[edit]
  1. ^ a b c Mohanty, Ajay (April 29, 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. April 29, 2024.
  3. ^ a b c d e Arakali, Harichandan (April 12, 2023). "From Mphasis to WNS, four midcaps changing the Indian IT game". Forbes India.
  4. ^ Parmar, Beena (March 4, 2024). "Birlasoft eyes large clients to lead industry growth". The Economic Times.
  5. ^ "Birlasoft: Playing a Vital Role in Partnering Global Businesses to Transform and Innovate". Siliconindia Magazine. May 2014.
  6. ^ a b Warrier, Shobha (August 7, 2003). "Birlasoft opens development centre in Chennai". Rediff.com.
  7. ^ Balachandran, Manu (April 30, 2024). "Long-term wealth creation calls for long-term investments: Ravi Pandit". Forbes India.
  8. ^ "BIRLASOFT: Reversing the Order". Dataquest. August 25, 2003.
  9. ^ a b c "BirlaSoft Under Pressure". Dataquest. August 31, 2000.
  10. ^ "Birlasoft, iPlanet in service pact". The Times of India. December 21, 2000.
  11. ^ "BIRLASOFT: Back on Track". Dataquest. August 4, 2001.
  12. ^ "TCS remains top software exporter". Rediff.com. July 19, 2002.
  13. ^ "Nasscom ranks Birlasoft 15th among the 20 biggest software exporting companies in India". Domain B. January 19, 2004.
  14. ^ "Birlasoft gets CMMI Level 5 appraisal". The Economic Times. April 16, 2004.
  15. ^ Kant, Krishna (December 24, 2005). "Birlasoft eyes acquisitions in ERP space". The Economic Times.
  16. ^ "Birlasoft launches ADVISIOR+ for wealth managers". One India. August 30, 2006.
  17. ^ Gupta, Bhavna; Puthuparampil Johnson, Joby (January 9, 2014). "Birlasoft acquires US-based CRM solutions provider EnablePath". VCCircle.
  18. ^ Phadnis, Shilpa (January 30, 2018). "KPIT to merge with Birlasoft, split into two". The Times of India.
  19. ^ Mendonca, Jochelle (January 30, 2018). "KPIT, Birlasoft to merge and split into two publicly-traded companies". The Economic Times.
  20. ^ "Birlasoft announces global strategic cloud partnership with Microsoft". The Economic Times. August 18, 2020.
  21. ^ "Acacia II Partners LP sells Birlasoft shares worth over Rs 137 cr". The Times of India. December 21, 2020.
  22. ^ "Birlasoft, Google Cloud partner to help enterprises accelerate digital transformation journey". The Hindu Business Line. June 20, 2022.
  23. ^ "Birlasoft launches bCloud+". The Times of India. May 31, 2023.
  24. ^ Shivangi (February 28, 2023). "Birla Group's arm, Birlasoft ventures into AI with launch of Cogito". Mint.
  25. ^ "Birlasoft Gets AWS Migration Consulting Competency For Helping Enterprises Migrate To Cloud". NDTV Profit. May 14, 2024.
  26. ^ "Birlasoft earns AWS competency in manufacturing and industrial consulting". Manufacturing Today India. September 26, 2024.
  27. ^ "The Next 50#81 Birlasoft". Dataquest. August 22, 2014.
  28. ^ Singh, Tushar Deep. "Profit Surges Over 11%, Revenue Rises Amid IT Slowdown". NDTV Profit.
  29. ^ a b "Birlasoft spends 123% of prescribed CSR budget in FY21; Major chunk goes to PM CARES". TheCSRUniverse. October 8, 2021.
  30. ^ "Birlasoft's Shodhan initiative leads to Zero Crop burning in villages of Punjab". India CSR. December 19, 2017.
  31. ^ "CII Foundation partners with Birlasoft to launch third phase of Project Shodhan". Asian News International. September 12, 2019.
  32. ^ "8th CSR Impact Awards 2022" (PDF). India CSR Summit.
  33. ^ "E-Vidya: Promoting digital and financial literacy among underprivileged women". CII Foundation. January 27, 2022.
  34. ^ "The Change Makers - Season 3". News 18. January 4, 2023.
  35. ^ "Birlasoft among 10 best outsourcing service providers in Australia, New Zealand". The Economic Times. June 25, 2009.
  36. ^ "12 Indian outsourcing cos among top global 100". Deccan Herald. July 13, 2012.
  37. ^ "Infy, HCL, Wipro among world's top 10 outsourcing cos". Rediff.com. July 13, 2012.
  38. ^ "Meet India's Top 100 IT Companies". Dataquest. August 5, 2015.
  39. ^ "Birlasoft named a finalist of the 2021 Microsoft Partner of the Year Awards". TechGig.com. July 9, 2021.
  40. ^ "ESG Champions of India 2024". Dun & Bradstreet. 2024.
  41. ^ "Finalists of 14th Aegis Graham Bell Awards". Bellaward.com.
  42. ^ "11th edition Winners - Aegis Graham Bell Awards". bellaward.com.
  43. ^ "GCC Excellence Awards 2024: Meet the Winners". AIM. June 2024.
  44. ^ Chadha, Sunainaa (August 9, 2024). "HCLTech's Roshni Nadar Malhotra is India's most influential woman leader". Business Standard.
  45. ^ "ET Brand Equity MarTech Awards 2024 winners". The Economic Times. 2024.
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