Shares of Happiest Minds Technologies surged as much as 13.5% to an intraday high of ₹455 on Wednesday, marking the stock's third consecutive day of gains and taking its cumulative rise to a sharp 35% over the same period. According to The Economic Times, the rally follows the company's announcement of an increase in its FY27 growth expectation to 12.5%, up from the earlier 10%. The stock opened at ₹407.60 on the NSE, climbed to an intraday high of ₹454.30, and was last trading at ₹450.30 — up ₹49.85 or 12.45% from its previous close of ₹400.45.
The rally follows a press release dated March 10, 2026, in which the company revised its FY27 constant-currency growth expectation to 12.5%, up from the 10% target set in March 2025. As reported by The Economic Times, the company also said it aspires to reach 15% growth in FY28. The revision is driven by what the company describes as accelerating client adoption of its AI First initiative, which was launched on February 10, 2026. Co-Chairman and CEO Joseph Anantharaju cited broad-based growth across financial services, healthcare, hi-tech, and manufacturing sectors, with the enhanced pipeline and strong business momentum validating their AI First strategy.
Chairman Ashok Soota said the AI First strategy was already delivering measurable results and driving client transformations at scale. According to reports from The Economic Times, Co-Chairman and CEO Joseph Anantharaju emphasized that the company is witnessing all-round growth led by rapid acceleration in financial services, healthcare, hi-tech, and manufacturing by robust adoption of AI. Managing Director Venkatraman Narayanan described the revised forecast as grounded in execution and client trust rather than aspiration. The company plans to double down on its AI/GenAI investments and build a dedicated 1,000+ team by the end of FY27.
The company reported a revenue growth of 10.7% year-on-year to ₹587 crore in the December 2025 quarter, driven by strong deal closures. As reported by The Economic Times, the company maintained an EBITDA margin of 20.4% and reported an adjusted PAT of 11.6% in the quarter, compared to 11.0% in the previous quarter. However, for the same quarter, profit after tax (PAT) declined 19.5% to ₹40.30 crore, compared with ₹50.10 crore in the same quarter last year. The company reported annualised revenues exceeding $260 million as of February 2026, with over 6,500 employees across 43 offices globally and more than 290 active customers.
The AI First initiative represents the company's 11th strategic initiative, launched earlier this year, which repositions the company's operating model and service delivery around artificial intelligence as a core value driver. As reported by The Economic Times, the company reported annualised revenues exceeding $260 million as of February 2026, with over 6,500 employees across 43 offices globally and more than 290 active customers. The company launched 10 strategic initiatives in March last year, which collectively provided the foundation for setting a revenue growth expectation of 10% in constant currency over a four-year horizon.
